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Get an edge on your CIMA Management Accounting journey with premium P1 practice tests from Actual4Labs. We offer 258 questions with comprehensive updates throughout 2026, giving you the exact preparation you need.
| Certification Vendor: | CIMA (Chartered Institute of Management Accountants) |
|---|---|
| Exam Name: | P1 Management Accounting |
| Exam Number: | CIMAPRO19-P01-1 |
| Available Languages: | Spanish, Portuguese, English |
| Related Certifications: | CGMA Designation CIMA Professional Qualification E1 Managing Finance in a Digital World F1 Financial Reporting |
| Certificate Validity Period: | Valid while syllabus remains active; Operational Level credits do not expire |
| Exam Duration: | 90 minutes |
| Exam Price: | USD $115–$195 / GBP £95–£165 (varies by region and membership status) |
| Real Exam Qty: | 60 |
| Exam Format: | Computer-based objective test, Scenario-based items, Fill-in-the-blank / Numeric entry, Multiple choice, Drag-and-drop, Multiple response |
| Passing Score: | 100/150 scaled score (approx. 67%) |
| Recommended Training: | CIMA Official Study Resources CIMA Approved Learning Partners |
| Exam Registration: | Pearson VUE Test Center CIMA Official Exam Booking |
| Sample Questions: | DOWNLOAD DEMO |
| Exam Way: | On-demand computer-based test at Pearson VUE test centers or remote online proctored |
| Pre Condition: | No mandatory prerequisites; open to all students; exemptions available via AAT, ACCA, ACA or relevant degrees |
| Official Syllabus URL: | https://www.cimaglobal.com/Studying/Our-exams-and-assessments/Operational-Level/P1-Management-Accounting/ |
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Cost Accounting for Decision and Control | 30% | - Standard costing and variance analysis - Cost classification and behaviour - Costing methods and techniques - Absorption, marginal and activity-based costing |
| Topic 2: Short-Term Commercial Decision Making | 30% | - Working capital management - Break-even and limiting factor analysis - Relevant costing and opportunity costs - Pricing decisions and make-or-buy choices |
| Topic 3: Budgeting and Budgetary Control | 25% | - Quantitative analysis for forecasting - Budget preparation and approaches - Flexible budgets and budgetary control - Behavioural aspects of budgeting |
| Topic 4: Dealing with Uncertainty in the Short Term | 15% | - Expected values and decision trees - Basic internal control and risk management - Sensitivity analysis and simulation - Risk and uncertainty concepts |
The P1 exam is a core requirement for the CIMA Operational Level / CIMA Diploma in Management Accounting certification at the Operational Level level. Earning this validates your skills for credentials like CIMA Professional Qualification, CGMA Designation, F1 Financial Reporting, E1 Managing Finance in a Digital World.
Candidates will face 60 questions and have 90 minutes to complete the exam. This means you need strict time management. We strongly recommend taking timed practice tests to ensure you can maintain a steady pace without rushing when under actual exam time pressure.
The official examination fee is USD $115–$195 / GBP £95–£165 (varies by region and membership status), and you must achieve a score of 100/150 scaled score (approx. 67%) to pass. Since retaking the test requires paying the full fee again, utilizing accurate practice materials for thorough self-assessment beforehand is crucial to protect your investment.
Candidate requirements include: No mandatory prerequisites; open to all students; exemptions available via AAT, ACCA, ACA or relevant degrees. Please verify all eligibility details on the official certification page before scheduling your appointment.
Registration is handled through official testing partners. The exam is delivered via On-demand computer-based test at Pearson VUE test centers or remote online proctored. You can sign up here:
The vendor suggests following official learning paths to build a foundational understanding:
Once you complete your training, use the 258 practice questions from Actual4Labs to refine your exam readiness.
Absolutely. A free PDF demo is available for you to evaluate the quality of our questions. Once purchased, you receive 365 days of free updates. If your access expires, you can renew it at a 50% discount to keep your materials current.
Your P1 practice materials are delivered instantly. You can download them right away, and a copy will be sent to your email within one minute (contact support if not received in 2 hours). You can install the software on an unlimited number of computers. We also offer a 100% Money Back Guarantee: if you fail the corresponding exam within 60 days of purchase, you can claim a full refund. To apply, submit your enrollment slip and official Score Report PDF within 2 days after taking the test (processing takes up to 7 days). Note: failures within 3 days of purchase, downloaded but unattempted exams, free materials, and expired orders are excluded. The payer's name must match the candidate's name. Alternatively, you can exchange your order for two free exams of equal value and keep the original product's updates.
The syllabus is divided into 4 main domains. Key areas include "Short-Term Commercial Decision Making" (30%), "Cost Accounting for Decision and Control" (30%), "Dealing with Uncertainty in the Short Term" (15%). For a comprehensive breakdown of all measured skills, please review the complete exam outline table provided above.
Question 1
A company develops computer software programs to meet each client's specific requirements. The management accountant is considering introducing a standard costing system.
Which THREE of the following are reasons that support the case for the company's introduction of a standard costing system?
A. It will aid the budget setting process.
B. It will provide a system of control.
C. It will enable the company to make a direct comparison of costs for each program developed.
D. It will simplify the work-in-progress valuation.
E. It will enable the company to better focus on the quality of its service.
Question 2
The following details are available for a company's production overhead costs at different levels of activity:
The company uses the high-low method to calculate its budgeted production overhead costs.
What is the budget for production overhead costs at an activity level of 8,500 units?
Give your answer as a whole number.
Question 3
A company's product range includes Product N. The costs relating to Product N are shown below:
The direct labour costs relate to specialists employed to work wholly and exclusively with Product N.
If the company stopped making Product N, the insurance overhead cost would cease, but overhead cost J would be unaffected. Both overheads are absorbed in direct proportion to material costs.
Which of the following costs should be used in the decision whether to stop making Product N?
A. $884,000
B. $850,000
C. $910,100
D. $944,100
Question 4
Company Y absorbs fixed production overheads using a rate per machine hour. Budgeted and actual data for month 8 are as follows:
What is the fixed production overhead efficiency variance?
A. $1,000,000 adverse
B. $1,000,000 favourable
C. $400,000 favourable
D. $400,000 adverse
Question 5
XY can choose from four mutually exclusive projects. The projects will each last for one year and their net cash inflows will be determined by market conditions. The forecast net cash inflows for each of the possible outcomes are shown below.
If the company applies the maximin criterion the project chosen would be:
A. Project D
B. Project C
C. Project A
D. Project B
Solutions:
| Question 1 Answer: A,B,D | Question 2 Answer: Only visible for members | Question 3 Answer: C | Question 4 Answer: C | Question 5 Answer: C |
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