MANAGEMENT CONTROL TESTS

TEST 1

Question 1
5 / 5 points
Indicate which of the following statements can explain the
presence of “variations or deviations”
with what was planned:

Errors of Omission

Calculation Errors

Entry Errors

Production Errors

Correct!

Estimation Errors

Correct, the definition of unrealistic or difficult-to-achieve objectives can

lead to large deviations from what was planned.

Question 2
5 / 5 points
What type of control does a company use in which the owners
focus clearly on achieving positive results with the fewest number
of results:
Management Control System

Business control

Management control in results

Modern management control

Correct!

Traditional management control

Correct, in traditional management control controls are considered only

as a verification instrument, since it focuses on measuring results and
not on how these are achieved.

Question 3
5 / 5 points
In an organizational chart, indicate what the controller's position
may be:

Co-worker dependent on the HR manager

An operational unit dependent on a headquarters

Correct!

Staff unit dependent on senior management

Correct, it can be a staff unit, without detriment to being a management
or position dependent on a particular area. This will depend on the level
of control that the company decides to apply according to its nature and
resources.

A head of the commercial area in charge of establishing a sales

plan

A financial area manager

Question 4
5 / 5 points
The defined management control approaches are:

Traditional and Managerial

Regular and Strategic

Correct!

Modern and Traditional

Correct, Management Control approaches have evolved from Traditional

to Modern.

Ancient and Modern

Controller and Systematic

Question 5
5 / 5 points
Producing faster cycles corresponds to the __________ of
management control.
Which alternative corresponds to the missing term?

Conditioning

Purposes

Accessories

Processes

Correct!

Benefits

Correct, this is a benefit of management control, since knowing the

processes and applying measurements on them allows us to take
actions in a timely manner and articulate the processes to act in the
face of the new needs and challenges presented by the environment.

Question 6
5 / 5 points
Indicate which of the following statements corresponds to a stage
for the design of a Management Control System:

Establishment and choice of Tasks that the management control

system will pursue

Correct!
Establishment and choice of Objectives that the management
control system will pursue

Correct, the determination and choice of objectives that the

management control system will pursue corresponds to the first stage,
since here it is defined what will be expected. Examples of this are:
aligning the organizational structure with strategic planning, reducing
risks, anticipating shocks in demand, making efficient and effective use
of the resources owned by each person responsible.

Establishment of risks that will affect the Objectives that the

management control system will pursue

Establishment of objectives for the production area that has the

management control system

Keep in mind the knowledge of the management control system

Question 7
5 / 5 points
Explain what the environments can be like when reviewing the
conditions of Management Control:

Stable or Common

Not very stable or dynamic

Stable or Traditional
Varied or Dynamic

Correct!

Stable or Dynamic

Right, first of all, we have the environment, this can be stable or dynamic
to different degrees.

Question 8
5 / 5 points
The quantification, in monetary terms, of the action plans planned
by the organization is known as:
Correct!

Budget

Correct, the budget seeks to quantify the objectives established by the

organization with the help of the respective managers.

Marketing plan

Estimated number of workers

Development goals

Financial - administrative communication

Question 9
5 / 5 points
Recognize, what is the definition of traditional “Management
Control”:

Set of processes based on strategic planning, whose purpose is to

achieve objectives by aligning and communicating goals and
procedures to the entire organization.

Correct!

Set of processes used by senior management in order to obtain

results with the least amount of resources

Correct, Traditional Management Control is a set of processes that

belong to senior management whose information is proprietary and
seeks to achieve the desired results with the least number of resources.

Set of processes based on senior management with the purpose of

obtaining resources

Set of processes based on strategic planning, whose purpose is to

obtain results with the least amount of resources

Set of processes based on strategic planning, whose purpose is to

achieve the objectives with the least number of resources

Question 10
5 / 5 points
The goal that aligns all the tasks or activities carried out within an
organization is:

Encourage
Correct!

To coordinate

Correct, one of the purposes of Management Control is to Coordinate, in

which all the tasks or activities carried out in the organization are
aligned so that the proposed objectives are materialized in accordance
with the established plan.

To motivate

Guide

Order

Question 11
5 / 5 points
Which of the following corresponds to the limitations of a
Management Control System:

Complexity and slowness in the Objectives

Complexity and overconfidence

Operating Income

Correct!
Complexity and slowness in processes

Correct, an excess of rigor and bureaucracy can cause setbacks and can
paralyze or delay the functioning of areas within the company.

Complexity and accuracy in the Objectives

Question 12
5 / 5 points
Relate what the following statement corresponds to: “The set of
processes used by the highest hierarchical level, in order to
achieve results using the least number of resources.”

Operational Management Control

Correct!

Traditional Management Control

Correct, traditional management control focuses its focus on results.

Modern Management Control

Results-Based Management Control

Budget Control

Question 13
5 / 5 points
Identify which Control the following characteristic belongs to:
“The Control is only a verification instrument.”

Modern management control

Strategic management control

Correct!

Traditional management control

Correct, in traditional management control controls are considered only

as a verification instrument, since it focuses on measuring results and
not on how these are achieved.

Strategy Control

Current management control

Question 14
5 / 5 points
Analyze which of the following definitions corresponds to the
purpose of Management Control known as “Evaluate”:

It is necessary to ensure that collaborators are immersed in the

defined strategy, giving a sense of belonging that allows the
achievement of objectives.

It is necessary to apply strategic plans and it is necessary to make

decisions transmitted to the entire organization in a timely
manner.
Correct!

It is necessary to apply controls or measurements that allow

knowing the status of compliance with the goals or objectives.

Correct, to know the status of a process and the degree of compliance

with the proposed objectives is achieved by applying controls.

It is necessary to apply controls or measurements that allow us to

know the degree of satisfaction of employees with their
expectations.

It is necessary to ensure that employees understand the tasks

they must perform and their work schedule.

Question 15
5 / 5 points
Indicate what the conditions of Management Control are:

Economic environment, Objectives by area, Structure of the area,

Type of Organization and Business Strategy

Environment, Business Objectives, Organizational Structure,

Organization Size and Business Strategy

Correct!

Environment, Business Objectives, Organizational Structure,

Organization Size and Business Culture
Correct, the conditions of Management Control are the environment,
business objectives, organizational structure, size of the organization
and business culture.

Information, Motivational objectives, Coordination structure, Size

of the Organization and Business culture

Environment, Business Objectives, Organizational Structure, Type

of Organization and Business Strategy

Question 16
5 / 5 points
What the Profile that a controller must have will depend on:

Expected financial result

Percentage of expected cost savings

Correct!

Nature of the company

Correct, the profile of a controller will depend on the nature of the

company in which he or she performs his or her duties; therefore, greater
or lesser skills and experience will be required depending on the
complexity of the organization.

Nature of the professional's study career

Nationality of the professional

Question 17
5 / 5 points
Suppose that the person in charge of preparing the budget took
the entire industry as a calculation basis to set the objectives for
the second half of 2018, and the Organization only has a market
share of 30%. The above will generate:
Correct!

Deviations

Correct, deviations can be explained by estimation errors, where the

established objectives are unattainable or too ambitious.

Overcompliance

Compliance

Certainty

Accuracy

Question 18
5 / 5 points
The process that seeks to know the degree of fulfillment of an
organization's objectives is called:

Management control system

Business control

Correct!

Management control

Correct, as can be seen in the contents of the module, management

control is the process whose purpose is to know the degree of fulfillment
of the objectives that an organization has.

Target Control

Target Control System

Question 19
5 / 5 points
Which of the benefits of Management Control defines the following
sentence:
“The application of measurements allows us to optimally and
timely address changes in the environment where the organization
is located, such as: changes in regulations, technologies and
others, giving it the chance to generate new opportunities and
prevent threats.”

Add value

Produce faster cycles

Correct!

Help you deal with changes in a better way

Correct, applying measurements helps to better and timely deal with
changes in the environment in which the organization is immersed.

Increase processes

Help face processes in a better way

Question 20
5 / 5 points
Distinguish which ones correspond to the purposes of
Management Control:

Inform, Coordinate, Evaluate, Motivate and Business Culture

Environment, Coordinate, Evaluate, Motivate and Business Culture

Correct!

Inform, Coordinate, Evaluate, Motivate

Correct, the purposes of management control seek to define in greater

detail the main purpose of management control.

Information, Motivational objectives, Evaluation

Environment, Business objectives, Structure

TEST 3
Score for this attempt: 100 out of 100
Delivered on Oct 14 at 19:09
This attempt lasted 5 minutes.

Question 1
5 / 5 points
Indicate the composition of the CMI:

The four perspectives, objectives, key success factors, indicators,

goals and action plans

At least three perspectives, objectives, key success factors,

indicators, goals and action plans

Correct!

The four perspectives, key success factors, indicators, goals and

action plans

There must be a relationship between the four perspectives and, for

each of them, there must be an indicator with the previously identified
attributes; key success factors (objectives), indicators, respective goals
and action plans

The four perspectives, key success factors, indicators, goals,

action plans and monitoring

The four perspectives, objectives, key success factors, indicators,

goals, action plans and monitoring

Question 2
5 / 5 points
Point out what the perspectives of the “Balanced Scorecard” are:

Internal Client, Accountant, Operational Process, Learning and

Knowledge

Happy Customer, Financial, Process Development, Learning and

Growth

Correct!

Client, Financial, Internal Process, Learning and Growth

As can be seen in the contents of the module, they are those key critical
dimensions in the company, which are classified as Customer, Financial,
Internal Process, Learning and Growth.

Client, Financial, Operational Process, Learning and Growth

Financial, Client, External process, Learning and Knowledge

Question 3
5 / 5 points
Point out some of the aspects that must be taken into account to
detect the variables in the “Customers” perspective:

Analyze increases in products and market shares

Analyze ROA
Determine what we value as a company

Correct!

Analyze increases in customers and market shares

They must be 100% related to the client and their relationship with the
company in question.

Analyze ROE

Question 4
5 / 5 points
Indicate which are the phases of the Plan to follow that the
Controller must present to the managers:
Correct!

Introduction, Development, conclusion

This process is necessary, given that an initial explanation of the CMI

concept is required, describing the current situation of the company; the
presentation of the methodology and a forceful closing of it.

Detection of key factors, development, conclusion

Detection of key factors, Strategic Map Design, development,

conclusion

Strategic map design, development, conclusion

Introduction, strategic map design, development, conclusion

Question 5
10 / 10 points
Which of the following are indicators from the customers'
perspective:
Correct!
Know the degree of customer satisfaction

Satisfacción de clientes

Correct!
Measures new clients for the current year (expressed as a
percentage)

Incremento de nuevos clientes

Other bad match options:

 Number of deadlines met

 Supplier delivery time

Question 6
10 / 10 points
What are the phases to design a CMI:
Correct!
Describes the current situation of the company, the causes that
motivate the use of a tool like this and the collaborators who must
participate in the design of the table.

Introducción

Correct!
It consists of presenting the methodology defined for its design;
For this, it is possible to use implementation examples from other
organizations, review options for possible initial imbalances and
what their action plan would be, establish a project calendar or a
gantt chart to follow.

Desarrollo

Correct!
Review the implementation steps of the tool and respond to
questions raised by company members.

Conclusión

Other bad match options:

 Detail
 Start

Question 7
15 / 15 pts
The strategy map is a tool that allows detecting cause-effect
relationships between key success factors (objectives).
Additionally, you must relate these objectives to the four
perspectives of the balanced scorecard.

Answer 1:
Correct!
strategic

Answer 2:
Correct!
four

The strategy map is a tool that allows detecting cause-effect

relationships between key success factors (objectives).
Additionally, you must relate these objectives to the four
perspectives of the balanced scorecard.
Question 8
15 / 15 pts
In small companies, the Balanced Scorecard will be the same for
all members of the organization, while in more complex
organizations, the indicators of each BSC may be different
depending on the level of responsibility of the end user or area
involved.
Answer 1:
Correct!
Balanced Scorecard

Answer 2:
Correct!
organizations

Answer 3:
Correct!
final user

In small companies, the Balanced Scorecard will be the same for

all members of the organization, while in more complex
organizations, the indicators of each BSC may be different
depending on the level of responsibility of the end user or area
involved.

Question 9
15 / 15 pts
The important thing about the CMI is that it is perceived as a tool
that allows improving management through information and
control of key factors. In smaller organizations, it will be the
manager and another member of the team who will evaluate the
results obtained.
Answer 1:
Correct!
tool
Answer 2:
Correct!
management

The important thing about the CMI is that it is perceived as a tool

that allows improving management through information and
control of key factors. In smaller organizations, it will be the
manager and another member of the team who will evaluate the
results obtained.

Question 10
15 / 15 pts
Starting with the Strategic Plan, mission and vision, it is necessary
to identify the key success factors that the organization has. In
addition to knowing the different cause-effect relationships in
various aspects of the entity, which is essential to determine the
key factors. An example of this could be: the effect that a high
level of motivation brings in work teams is a high level of
productivity.
Answer 1:
Correct!
Plan

Answer 2:
Correct!
success

Answer 3:
Correct!
entity

Starting with the strategic plan, mission and vision, it is necessary

to identify the key success factors that the organization has. In
addition to knowing the different cause-effect relationships in
various aspects of the entity, which is essential to determine the
key factors. An example of this could be: the effect that a high
level of motivation brings in work teams is a high level of
productivity.
TEST 4

Score for this attempt: 100 out of 100

Delivered on Oct 14 at 19:26
This attempt lasted 8 minutes.

Question 1
5 / 5 points
Relate the definition “Establish and pertinently review the
company's general strategies and policies” with the concept that
best identifies, according to the module:

Vision

Management cycle

Correct!

Corporate Governance Standard

It is a variable in the standards scheme, part of what is expected of a

good directory.

Management objectives

Planning

Question 2
5 / 5 points
Relate the definition “Adopts agreements” with the corresponding
concept:

Control management

Minority partners

directory

Correct!

General meeting of shareholders

Represents the ownership body.

General management

Question 3
5 / 5 points
Classify the following definition: “It is concerned with knowing the
existence of management schemes that are correctly delimited,
with broad and effective mechanisms and tools to follow.” The
previous text corresponds to:

First block: Transparency

Second block: property right

Correct!
Second block: The board and management

It is one of the blocks on which corporate governance is based.

Third block: property sale

First block: transfer

Question 4
5 / 5 points
One of the provisions in “compliance or explanation” is:

Dismissal of executives

Management functions

Correct!

Directory operation

According to what the current regulations say.

Finance operation

Secure contracts

Question 5
10 / 10 points
Recognize the three blocks to analyze corporate governance and
their definitions:
Correct!
Verify whether shareholders and other participants can fully and
timely exercise their property rights

Derecho de propiedad

Correct!
It is concerned with knowing the existence of management
schemes that are correctly defined, with broad and effective
mechanisms and tools to follow.

El directorio y la gerencia

Correct!
It verifies whether the company's information to the market, and
to the investor in particular, is sufficient (that is, complete and
relevant), reliable (that is, truthful and objective) and timely (in
other words, available on time).

Transparencia

Other bad match options:

 Administrative law
 The board and leadership

Question 6
10 / 10 points
Match the correct definition to the SOA law component:
Correct!
There must be supervision of the processes.

Monitoreo

Correct!
This allows staff to manage the correct information for continuous
development.

Información y comunicación

Correct!
The risks you face must be known and addressed.

Evaluación de riesgo

Other bad match options:

 Control environment
 Control activities

Question 7
15 / 15 pts
In 2012, the SVS issued “General Standard No. 341 (NCG341)”,
which has the main objective of providing good and correct
information to investors and interested and/or related persons, and
allowing specialized entities to issue reports. external that are
relevant in the decision-making and management of the
organizations involved.
Answer 1:
Correct!
SVS

Answer 2:
Correct!
investors

Answer 3:
Correct!
organizations

In 2012, the SVS issued “General Standard No. 341 (NCG341)”,

which has the main objective of providing good and correct
information to investors and interested and/or related persons, and
allowing specialized entities to issue reports. external that are
relevant in the decision-making and management of the
organizations involved.

Question 8
15 / 15 pts
In general terms, a takeover bid is an offer to purchase shares
corresponding to Public Limited Companies and has different
control methods, for example, the individualization of whoever
intends to carry out a takeover bid.
Answer 1:
Correct!
takeover bid

Answer 2:
Correct!
control

Answer 3:
Correct!
individualization

In general terms, a takeover bid is an offer to purchase shares

corresponding to Public Limited Companies and has different
control methods, for example, the individualization of whoever
intends to carry out a takeover bid.

Question 9
15 / 15 pts
Corporate governance is born and developed as a mechanism to
solve various problems of moral risk, so it must be concerned with
selecting the most and best qualified people to be able to align
investor incentives, ensuring the obtaining and satisfaction of
returns with respect to The investors .
Answer 1:
Correct!
corporate governance

Answer 2:
Correct!
moral

Answer 3:
Correct!
investors

Corporate governance is born and developed as a mechanism to

resolve various problems of moral risk, so it must be concerned
with selecting the most and best qualified people to be able to
align investor incentives, ensuring the obtaining and satisfaction
of returns with respect to The investors.

Question 10
15 / 15 pts
The Corporate Governance Law (2009) perfects the Public Limited
Companies Law and the Securities Market Law, adding and
improving – for example – transparency issues. In these terms, it
seeks to reduce insider advantages; Regulations are perfected
that are related to transactions between related parties, voting
conditions, obligation of ordinary shareholders meetings and
designation of the company that will be in charge of the external
audit.
Answer 1:
Correct!
Corporate

Answer 2:
Correct!
transparency

Answer 3:
Correct!
external
The Corporate Governance Law (2009) perfects the Public Limited
Companies Law and the Securities Market Law, adding and
improving – for example – transparency issues. In these terms, it
seeks to reduce insider advantages; Regulations are perfected
that are related to transactions between related parties, voting
conditions, obligation of ordinary shareholders meetings and
designation of the company that will be in charge of the external
audit.