Chapters 1 & 2:1. The primary duties that CFOs share include all of the following except:
a. Developing and defining the overall strategy for the organization
b. Representing the organization’s progress on external goals to strategic
stakeholders
C. A sole focus on ensuring the books are closed properly and the financial
statements are accurate
d. Leading key initiatives in finance that support overall strategic goals
2. The new job of a CFO demands experience with capital markets, mergers and
information technologies, as well as operations and other corporate functional areas
3. The first challenge CEOs consider in measuring value is:
a. Alignment incentives with measures
b. Develop methodology and tools to measure value
C. Understand where value comes from and how much these is of it.
d. Creating a balanced scorecard representing all key areas of the organization.
4. Investors say that they would like to see less narrative reporting that explains how the
business intends to create value since the amount of current information is overwhelming
and confusing.
5. The three communication competencies include:
a. Presentation, speaking, and writing
b. Speaking, writing, and listening
c. Writing, listening, and presentation
d. Listening, presentation, and speaking
6. Management accountants are now serving as business partners in organizations,
providing senior executives and company managers with not only traditional reporting
information, but also guidance on how to set strategic plans, business goals, and value-
creating activities.
7. Generation X (born 1965-1980) should contains a large enough pool of talented
management accountants to fill the gap of retiring baby (born 1946 – 1964), thus limiting
the opportunities for Generations Y (born 1981 – 2000) professionals.
8. Since communication skills can be developed through schooling, company training, and
other resources, it is important for a management accounting progress to pursue such
activities to be successful in the profession.
9. Professions typically reach the role of CFO through either the
Chief Accountant/Controller or the Treasurer role.
10. In order to effectively make his transition from Public Accounting into a senior level
corporate position, Papa focused on:
a. Improving his technical skills
b. Building relationships with within the company
c. Obtaining his MBA degree
d. Providing strong references
Chapter 3:
1. The most important skill to possess in the finance profession is:
a. Leadership
b. Problem Solving
c. Technical Accounting
d. Communication
2. When communicating in a financial role, start with technology (e.g. email, instant
messaging, text messaging) to gain efficiencies and effectiveness.
3. The various types reports discussed in the chapter include all of the following except:
a. Investigative reports
b. Feasibly reports
c. Closing reports
d. Formal reports
4. Persuading and Influencing are the same.
5. Hearing and listening are basically the same think.
6. In preparing for a meeting you should do all of the following except:
a. Have a clear purpose
b. Know the speaker
c. Know the content
d. Know the answer
7. It is important to empathize with the person you are meeting with by relating to them,
their point of view and their passion.
8. At the end of a meeting, it is important to do all of the following except:
a. Summarize the speakers message
b. Ask thoughtful question
c. Show you are smart by stating the answer
d. Clarify any unclear messages
9. While in Western culture terrific speakers are praised, however, you could find yourself
at a disadvantage as you advance in your career if you do not effectively listen.
10. It is important for a financial professional to be able to explain complex topics in simple
terms.
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