CMA Foundation Question Paper with Detailed Solution | Dec 25 | Session 2

  • By Team Koncept
  • 15 December, 2025
CMA Foundation Question Paper with Detailed Solution | Dec 25 | Session 2

CMA Foundation Question Paper with Detailed Solution | Dec 25 | Session 2

CMA Foundation previous year question papers

Table of Contents

  1. Business Mathematics and Statistics
  2. Fundamentals of Business Economics and Management

CMA Inter Dec 25 Suggested Answer Other Subjects Blogs :

  1. CMA Foundation Suggested Answer Dec 25 Session 1
  2. CMA Foundation Syllabus (New Updates)
  3. CMA Foundation Online Classes

CMA Foundation Question Paper with Detailed Solution | Dec 25 | Session 2  - 6


Business Mathematics and Statistics

1. The mean proportional between 1.4 gm and 5.6 gm is

  1. 2.8 gm
  2. 28 gm
  3. 3.2 gm
  4. 32 gm
Solution:

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2. The 9ᵗʰ term of an AP −2, −5, −8, −11 is

  1. −16
  2. −27
  3. −29
  4. −26
Solution:

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3. The first term and common ratio of a GP are 4 and 1⁄2 respectively. The 5ᵗʰ term of the series is

  1. 1/2
  2. 1/4
  3. 1
  4. 1/64
Solution:

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4. Find the sum of ten terms of the series 2, 4, 6, 8, 10

  1. 110
  2. 104
  3. 108
  4. 112
Solution:

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5. A sum of money is doubled in 5 years at simple interest. The rate of interest is

  1. 15%
  2. 20%
  3. 10%
  4. 5%
Solution:

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6. If 30x = 1⁄243, then the value of x is

  1. 5
  2. 4
  3. −5
  4. −4
Solution:

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7. If (100)ˣ = (1000)ᶻ then x : y : z is

  1. 6 : 2 : 3
  2. 1 : 2 : 3
  3. 2 : 3 : 6
  4. 6 : 3 : 2
Solution:

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8. log 144 is equal to

  1. 2 log₂ + 2 log₃
  2. 3 log₂ + 4 log₃
  3. 4 log₂ + 2 log₃
  4. 3 log₂ + 2 log₃
Solution:

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9. The value of (2! + 3!) × 0! is

  1. 0
  2. 5
  3. 120
  4. 8
Solution:

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10. In how many ways five members can be selected for a committee out of 11 members of a club where a particular member will always exist in the committee

  1. 210
  2. 462
  3. 252
  4. 330
Solution:

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CMA Foundation Question Paper with Detailed Solution | Dec 25 | Session 2  - 6

11. The number of proper subsets of the set {a, e, i, o, u} is

  1. 32
  2. 31
  3. 30
  4. 28
Solution:

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12. For the function y = x³ − 3x, the value of x for which dy/dx = 0 is

  1. ±1
  2. +1
  3. ±3
  4. ±√3
Solution:

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13. If ⁹Pᵣ = 504, the value of r is

  1. 4
  2. 3
  3. 5
  4. 2
Solution:

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The present value of an annuity of ₹1000 received annually for 4 years at a discount rate of 5% is approximately

  1. ₹ 3445
  2. ₹ 3455
  3. ₹ 3554
  4. ₹ 3555
Solution:

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15. If the roots of a quadratic equation are 2 and −3, then the equation is

  1. (x + 2)(x + 3) = 0
  2. (x − 2)(x + 3) = 0
  3. (x − 2)(x − 3) = 0
  4. (x + 2)(x − 3) = 0
Solution:

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16. The cost function of a perfect competitive firm is

C(x) = x² + 5x + 5, where x denotes the level of output.

The market price of the product is ₹ 17 per unit.

Find the profit maximizing output of the firm.

  1. 4 units
  2. 7 units
  3. 8 units
  4. 6 units
Solution:

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17. The value of log(75⁄16) − log(25⁄81) + log(32⁄243) is

  1. log 5
  2. log 4
  3. log 2
  4. log 3
Solution:

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18. x varies inversely with the sum of y and z, and x = 4 when y = 5 and z = 3.

What is the value of z, when y = 3 and x = 8?

  1. 1
  2. 2
  3. 3
  4. 4
Solution:

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19. If f(x) = ax + b and f(−1) = 3, f(1) = 5, then the value of f(2) is

  1. 0
  2. 1
  3. 6
  4. 4
Solution:

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20. A bike rider and a cycle rider travel from city A to city B.

The time taken by the cycle rider is double of the time taken by the bike rider.

The ratio of velocities of bike and cycle is

  1. 1 : 1
  2. 2 : 1
  3. 1 : 2
  4. 1 : 4
Solution:

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CMA Foundation Question Paper with Detailed Solution | Dec 25 | Session 2  - 6

21. A pie diagram is used to represent the following data:

Source

A

B

C

D

Revenue (in ’000 ₹)

120

180

240

180

The central angle corresponding to source C is

  1. 140°
  2. 120°
  3. 130°
  4. 125°
Solution:

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22. Which part of a statistical table contains the observed values?

  1. Stub
  2. Caption
  3. Source notes
  4. Body
Solution:

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23. Find the frequency density of the class interval 11–15 from the following frequency distribution:

Class Interval

4–6

7–10

11–15

16–21

Frequency

2

6

5

8

  1. 5⁄21
  2. 0.5
  3. 1
  4. 1.25
Solution:

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24. The measure of central tendency based on all observations of a variable is

  1. Mean
  2. Median
  3. Mode
  4. Variance
Solution:

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25. The geometric mean of the numbers 4, 6 and 9 is

  1. 6
  2. 18
  3. 12
  4. 24
Solution:

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26. Find the mode of the following frequency distribution:

x

5

10

15

20

25

f

4

9

6

3

5

  1. 10
  2. 9
  3. 25
  4. 15
Solution:

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27. Find the geometric mean of 1/4, 1/8, 1/16

  1. 1/4
  2. 8
  3. 4
  4. 1/8
Solution:

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28. Calculate the median for the following frequency distribution:

Class

0–7

7–14

14–21

21–28

28–35

35–42

Cumulative Frequency (Less than)

7

18

42

61



82

  1. 20.17
  2. 20.71
  3. 21.07
  4. 21.70
Solution:

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29. For an ungrouped dataset n = 15, Σx = 480, Σx² = 15735, the standard deviation is

  1. 25
  2. 6.4
  3. 32
  4. 5
Solution:

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30. If the AM and the CV of a variable x are 5 and 20% respectively, then the variance of x is

  1. 100
  2. 10
  3. 1
  4. 25
Solution:

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CMA Foundation Question Paper with Detailed Solution | Dec 25 | Session 2  - 6

31. The mean deviation about 4 of the following numbers of 0, 9, 5 and 6 is

  1. 12
  2. 3
  3. 0.75
  4. 0
Solution:

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32. The relationship between two variables is represented by the

  1. histogram
  2. ogive
  3. scatter diagram
  4. frequency curve
Solution:

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33. If x = X − X̄, y = Y − Ȳ, Σx² = 90, Σxy = 60, Σy² = 62.5, then rₓᵧ = ?

  1. 0.65
  2. 0.80
  3. 0.85
  4. 0.75
Solution:

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34. State which of the following is false:

  1. Correlation coefficient is the geometric mean of the regression coefficients.
  2. Correlation coefficient is independent of change of scale and origin of the observations.
  3. If the variables are connected by a perfect linear relation, then the value of correlation coefficient is either −1 or +1.
  4. Correlation coefficient depends on the units of measurements of the variables.
Solution:

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35. In a music competition two judges have given the following ranks to four competitors:

Competitor 1 2 3 4
Judge A 1 2 3 4
Judge B 1 2 4 3

The rank correlation is

  1. 0.4
  2. 0.5
  3. 0.8
  4. 0.7
Solution:

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36. If x̄ = 10, ȳ = 20, rₓᵧ = 0.6, σₓ² = 2.25, σᵧ² = 4, the regression line y on x is

  1. y = 0.3375x + 16.625
  2. y = 0.3375x + 3.25
  3. y = 0.45x + 15.5
  4. y = 0.8x + 12
Solution:

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37. If the regression coefficients of two variables are 0.4 and 0.9, find the correlation coefficient

  1. 0.6
  2. −0.6
  3. +0.6
  4. 0.65
Solution:

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38. Which of the following is true?

  1. 0 ≤ rₓᵧ ≤ 1
  2. −1 ≤ rₓᵧ < 1
  3. 0 ≤ rₓᵧ ≤ 1
  4. −1 ≤ rₓᵧ ≤ 1
Solution:

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39. The probability of an event A lies in the interval

  1. 0 < P(A) < 1
  2. 0 < P(A) < ∞
  3. 0 ≤ P(A) ≤ 1
  4. 0 ≤ P(A) < ∞
Solution:

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40. Three coins are tossed simultaneously. What is the probability of getting exactly 2 heads?

  1. 3/8
  2. 1/4
  3. 1/8
  4. 1/3
Solution:

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CMA Foundation Question Paper with Detailed Solution | Dec 25 | Session 2  - 6

41. If a die is thrown two times in succession, what is the probability of getting the sum 7?

  1. 1/8
  2. 1/6
  3. 5/36
  4. 1/3
Solution:

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42. Two balls are drawn randomly from a box containing 4 white and 6 black balls. The probability that the drawn balls are white is

  1. 2/15
  2. 3/5
  3. 1/10
  4. 2/3
Solution:

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43. Probability of occurrence of at least one of the events A and B is denoted by

  1. P(A ∩ B)
  2. P(A ∪ B)
  3. P(A) + P(B)
  4. P(A|B)
Solution:

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44. A card is drawn randomly from a pack of 52 cards. Find the probability that the card is either a red or a king.

  1. 17/52
  2. 29/52
  3. 15/26
  4. 7/13
Solution:

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45. f P(A) = 1/3, P(B) = 1/4, P(A ∪ B) = 1/2, then P(B|A) is

  1. 1/4
  2. 1/6
  3. 1/2
  4. 1/3
Solution:

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46. Find the index number for the year 2024, taking 2023 as base from the following data by aggregative method.

Commodity A B C D
Price in 2023 (₹) 30 40 90 90
Price in 2024 (₹) 35 50 95 110
  1. 116
  2. 106
  3. 125
  4. 120
Solution:

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47. If ΣP₀Q₀ = 1360, ΣP₁Q₀ = 1900, ΣP₀Q₁ = 1324, ΣP₁Q₁ = 1880, then the Laspeyres’ Price Index number is

  1. 188.0
  2. 139.7
  3. 142.0
  4. 97.4
Solution:

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48. If the observed value, trend, seasonal variation, cyclical variation and irregular movement of a time series are denoted by Y, T, S, C and I respectively, then the multiplicative model is

  1. Y = T × S × C + I
  2. Y = (T + S) × (C + I)
  3. Y = T × S × C × I
  4. Y = T + (S × C × I)
Solution:

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49. 3-year moving averages for 2012 and 2013 are 23 and 33 respectively. If the value for the year 2011 is 17, then the value for 2014 is

  1. 47
  2. 27
  3. 28
  4. Cannot be determined
Solution:

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50. Using arithmetic mean of price relatives, compute the quantity index from the following data.

Commodity

A

B

C

D

E

F

Base Year Quantity

20

30

10

25

50

40

Current Year Quantity

25

30

15

35

55

45

  1. 125.22
  2. 124.92
  3. 127.25
  4. 121.29
Solution:

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CMA Foundation Question Paper with Detailed Solution | Dec 25 | Session 2  - 6


Fundamentals of Business Economics and Management

51. Which one of the following is a central problem of an economy?

  1. When to produce?
  2. Where to produce?
  3. How much to produce?
  4. None of the above
Solution:

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52. Production Possibility Curve is:

  1. Downward sloping and convex to the origin
  2. Downward sloping and concave to the origin
  3. Upward sloping and convex to the origin
  4. Upward sloping and concave to the origin
Solution:

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53. Which one of the following statements is correct?

  1. Demand schedule shows the list of quantity demanded of different goods at the same price
  2. Market demand schedule is the vertical summation of the individual demand schedules
  3. Demand schedule shows the list of quantity demanded of different goods at different prices
  4. Market demand schedule is the horizontal summation of the individual demand schedules
Solution:

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54. At which point of the linear demand curve, point elasticity is minimum?

  1. At the mid-point
  2. At the bottom point
  3. At the upper most point
  4. At any point of the linear demand curve
Solution:

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55. In which one of the following cases, extension of supply of a product will take place?

  1. Increase in the price of the concerned product
  2. Decrease in the number of suppliers
  3. Increase in the subsidy on the inputs used
  4. Increase in the GST on the product
Solution:

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56. Which one of the following cost curves is continuously falling as the output increases?

  1. Average Fixed Cost Curve
  2. Marginal Cost Curve
  3. Average Variable Cost Curve
  4. Average Total Cost Curve
Solution:

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57. Which one of the following values the Marginal Product (MP) does not take?

  1. Zero
  2. Negative
  3. Positive
  4. Cannot be defined
Solution:

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58. If, in an economy, demand increases while supply remains constant, then there will be:

  1. Increase in both the equilibrium price and the equilibrium quantity
  2. Decrease in both the equilibrium price and the equilibrium quantity
  3. Increase in price but decrease in quantity
  4. Increase in price but no change in quantity
Solution:

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59. Selling Cost is a feature of:

  1. Monopoly
  2. Oligopoly
  3. Monopolistic Competition
  4. Both (B) and (C)
Solution:

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60. ______ reflects different prices for different groups of consumers.

  1. First Degree of Price Discrimination
  2. Second Degree of Price Discrimination
  3. Third Degree of Price Discrimination
  4. Uniform Pricing
Solution:

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CMA Foundation Question Paper with Detailed Solution | Dec 25 | Session 2  - 6

61. In case of Perfect Competition,

  1. AR = MR
  2. AR > MR
  3. AR < MR
  4. AR is falling
Solution:

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62. In which one of the following markets, there is no entry and no exit of the firm?

  1. Monopoly
  2. Oligopoly
  3. Monopolistic Competition
  4. Perfect Competition
Solution:

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63. In Economics, a ______ is a formal association of independent firms or individuals which decide to restrict the market supply and/or fix prices, aiming to increase profits and market dominance.

  1. Monopoly
  2. Cartel
  3. Dominant Oligopoly
  4. Discriminant Monopoly
Solution:

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64. A monopolist firm in the short-run can earn ______.

  1. Supernormal profits
  2. Normal profits
  3. Losses
  4. Any one of the above
Solution:

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65. Close substitute of a product is a feature of which market?

  1. Monopoly
  2. Oligopoly
  3. Monopolistic Competition
  4. Perfect Competition
Solution:

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66. As a pricing strategy, Price Leadership can be seen in ______.

  1. Discriminant Monopoly
  2. Duopoly
  3. Oligopoly
  4. Monopolistic Competition
Solution:

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67. In Perfect Competition, ______.

  1. Advertisement cost is taken into account
  2. A firm can take decision on the amount of quantity to be produced
  3. The factors of production are immobile
  4. Number of buyers are small
Solution:

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68. On the basis of the number of sellers, which market has least sellers?

  1. Monopoly
  2. Duopoly
  3. Monopsony
  4. Monopolistic Competition
Solution:

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69. Which one of the following is considered as narrow money in India?

  1. M0
  2. M1
  3. M2
  4. M3
Solution:

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70. Which one of the following is not considered as a cause of inflation?

  1. Increase in indirect tax
  2. Increase in international price of gold
  3. Increase in unproductive expenditure by the Government
  4. Increase in money supply by the Central Bank
Solution:

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CMA Foundation Question Paper with Detailed Solution | Dec 25 | Session 2  - 6

71. Temporary loan facilities provided by the RBI to the State Governments and the Central Government is known as ______.

  1. Ways and Means Advances
  2. Standing Deposit Facility
  3. Market Stabilizing Bond
  4. Open Market Operations
Solution:

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72. Which one of the following organizations does not provide industrial credit?

  1. IFCI
  2. SFC
  3. SIDC
  4. NABARD
Solution:

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73. Which one of the following is not a money market instrument?

  1. Treasury Bill
  2. Commercial Paper
  3. Debenture
  4. Certificate of Deposits
Solution:

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74. SDR (Special Drawing Rights) of IMF now comprises a basket of ______ currencies.

  1. 5
  2. 4
  3. 6
  4. 3
Solution:

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75. To control inflation, the RBI might resort to ______.

  1. Reducing the CRR
  2. Increasing the Repo Rate
  3. Open Market Operations
  4. All of the above
Solution:

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76. ______ is a public sector company mandated to acquire and aggregate non-performing assets.

  1. SBI
  2. IFCI
  3. NARCL
  4. SIDBI
Solution:

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77. SEBI is the primary regulatory body for overseeing and regulating the functioning of India’s ______.

  1. Insurance companies
  2. Stock exchanges
  3. Pension funds
  4. Commercial banks
Solution:

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78. The Monetary Policy in India is framed by the ______.

  1. Ministry of Finance
  2. SEBI
  3. RBI
  4. SBI
Solution:

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79. Under the PESTEL framework, “S” stands for ______.

  1. Sound
  2. Science
  3. Social
  4. Sustainable
Solution:

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80. Which one of the following is not a part of the micro environment?

  1. Suppliers
  2. Competitors
  3. Customers
  4. Technological innovations
Solution:

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CMA Foundation Question Paper with Detailed Solution | Dec 25 | Session 2  - 6

81. Which one of the following is not a criterion for decision-making under uncertainty?

  1. Maximax criterion
  2. Utility Maximization criterion
  3. Laplace criterion
  4. Minimax criterion
Solution:

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82. Which one of the following is not a part of internal business environment?

  1. Employee
  2. Raw material
  3. Vendor
  4. Money
Solution:

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83. Globalization, as a part of the Indian macro environment, does not include ______.

  1. FEMA
  2. Devaluation
  3. Membership of different Trade Blocks
  4. Encouraging FDI
Solution:

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84. The authorized agency of managing e-Rupee in India is the ______.

  1. Bank of Digital Currency
  2. National Payment Corporation of India
  3. Clearing Corporation of India Ltd.
  4. RBI
Solution:

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85. Micro environment is also called as the ______.

  1. General environment
  2. Operating environment
  3. Political environment
  4. Economic environment
Solution:

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86. Which one of the following statements is correct?

  1. Management is a goal-oriented process
  2. Management is a continuous process
  3. Management is a dynamic process
  4. All of the above
Solution:

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87. Name the function of management which bridges where we are and where we want to go.

  1. Planning
  2. Staffing
  3. Organizing
  4. Leading
Solution:

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88. Which one of the following is not a Content Theory?

  1. Maslow’s Hierarchy of Needs theory
  2. Vroom’s Expectancy theory
  3. Herzberg’s Two-factor theory
  4. McClelland’s Acquired Needs theory
Solution:

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89. ______ suggests that individuals compare their own input–outcome ratio (e.g., effort vs. income) with that of others (e.g., colleagues, friends).

  1. Acquired Needs theory
  2. Equity theory
  3. Expectancy theory
  4. Two-factor theory
Solution:

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90. The decisions which are frequent and repetitive in nature are called ______.

  1. Programmed decisions
  2. Non-programmed decisions
  3. Operating decisions
  4. Organizational decisions
Solution:

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CMA Foundation Question Paper with Detailed Solution | Dec 25 | Session 2  - 6

91. Who introduced the concept of the five functions of management?

  1. Peter Drucker
  2. Frederick Taylor
  3. Henri Fayol
  4. Elton Mayo
Solution:

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92. The management function that involves evaluating employee performance and providing feedback is known as ______.

  1. Planning
  2. Organizing
  3. Leading
  4. Controlling
Solution:

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93. What is the last step in the decision-making process?

  1. Identifying the alternatives
  2. Implementing the best alternative
  3. Evaluating the alternatives
  4. Recognizing the need for decision
Solution:

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94. ______ is a mental shortcut or a rule of thumb that helps make quick decisions and judgments without having to think through every detail.

  1. Simulation
  2. Linear Programming
  3. PERT
  4. Heuristic
Solution:

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95. Which is not a characteristic of the control phase?

  1. Setting the target
  2. Preparing the budget
  3. Changing the control process
  4. Measuring the performance
Solution:

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96. According to Herzberg, which one of the following is a maintenance factor?

  1. Salary
  2. Job enrichment
  3. Recognition
  4. Achievement
Solution:

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97. Communication begins with ______.

  1. Encoding
  2. Idea generation
  3. Channel selection
  4. Decoding
Solution:

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98. The form of organization known for giving rise to rumors is called ______.

  1. Centralized organization
  2. Formal organization
  3. Decentralized organization
  4. Informal organization
Solution:

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99. Who among the following is an agent?

  1. Shareholder
  2. Manager
  3. Debt financer
  4. Donor
Solution:

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100. Which one of the following is not concerned with staffing?

  1. Recruitment
  2. Training
  3. Publicity
  4. Selection
Solution:

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CMA Foundation Question Paper with Detailed Solution | Dec 25 | Session 2  - 6

Ruchika Saboo An All India Ranker (AIR 7 - CA Finals, AIR 43 - CA Inter), she is one of those teachers who just loved studying as a student. Aims to bring the same drive in her students.

Ruchika Ma'am has been a meritorious student throughout her student life. She is one of those who did not study from exam point of view or out of fear but because of the fact that she JUST LOVED STUDYING. When she says - love what you study, it has a deeper meaning.

She believes - "When you study, you get wise, you obtain knowledge. A knowledge that helps you in real life, in solving problems, finding opportunities. Implement what you study". She has a huge affinity for the Law Subject in particular and always encourages student to - "STUDY FROM THE BARE ACT, MAKE YOUR OWN INTERPRETATIONS". A rare practice that you will find in her video lectures as well.

She specializes in theory subjects - Law and Auditing.

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Yashvardhan Saboo A Story teller, passionate for simplifying complexities, techie. Perfectionist by heart, he is the founder of - Konceptca.

Yash Sir (As students call him fondly) is not a teacher per se. He is a story teller who specializes in simplifying things, connecting the dots and building a story behind everything he teaches. A firm believer of Real Teaching, according to him - "Real Teaching is not teaching standard methods but giving the power to students to develop his own methods".

He cleared his CA Finals in May 2011 and has been into teaching since. He started teaching CA, CS, 11th, 12th, B.Com, M.Com students in an offline mode until 2016 when Konceptca was launched. One of the pioneers in Online Education, he believes in providing a learning experience which is NEAT, SMOOTH and AFFORDABLE.

He specializes in practical subjects – Accounting, Costing, Taxation, Financial Management. With over 12 years of teaching experience (Online as well as Offline), he SURELY KNOWS IT ALL.

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"Koncept perfectly justifies what it sounds, i.e, your concepts are meant to be cleared if you are a Konceptian. My experience with Koncept was amazing. The most striking experience that I went through was the the way Yash sir and Ruchika ma'am taught us in the lectures, making it very interesting and lucid. Another great feature of Koncept is that you get mentor calls which I think drives you to stay motivated and be disciplined. And of course it goes without saying that Yash sir has always been like a friend to me, giving me genuine guidance whenever I was in need. So once again I want to thank Koncept Education for all their efforts."

- Raghav Mandana

"Hello everyone, I am Kaushik Prajapati. I recently passed my CA Foundation Dec 23 exam in first attempt, That's possible only of proper guidance given by Yash sir and Ruchika ma'am. Koncept App provide me a video lectures, Notes and best thing about it is question bank. It contains PYP, RTP, MTP with soloution that help me easily score better marks in my exam. I really appericiate to Koncept team and I thankful to Koncept team."

- Kaushik Prajapati

"Hi. My name is Arka Das. I have cleared my CMA Foundation Exam. I cleared my 12th Board Exam from Bengali Medium and I had a very big language problem. Koncept Education has helped me a lot to overcome my language barrier. Their live sessions are really helpful. They have cleared my basic concepts. I think its a phenomenal app."

- Arka Das

"I cleared my foundation examination in very first attempt with good marks in practical subject as well as theoretical subject this can be possible only because of koncept Education and the guidance that Yash sir has provide me, Thank you."

- Durgesh