6/25/22, 11:53 AM Assessment Review - Corporate Finance Institute

FP&A Monthly Cash Flow Forecast Model

Below is a scored review of your assessment. All questions are shown.

Correct Answer Partially Correct Incorrect Answer

https://cfi.onlinetests.app/Assess.aspx?guid=583F0D2ABF814812AE8660CAD37129C7&a=R1 1/13
6/25/22, 11:53 AM Assessment Review - Corporate Finance Institute

1 Inputs should be blue colored font and should have ________ only. Process and outputs should be in black colored font and have _______
only.

Your Answer hardcoded numbers only, formulas only

Correct Answer hardcoded numbers only, formulas only

Explanation
None.

https://cfi.onlinetests.app/Assess.aspx?guid=583F0D2ABF814812AE8660CAD37129C7&a=R1 2/13
6/25/22, 11:53 AM Assessment Review - Corporate Finance Institute

2 The annual accounts payable is 4,800; the annual revenue is 75,000, and the gross profit margin is 40%. The payable days estimated from
the data above is ______.

Your Answer 39

Correct Answer 39

Explanation
Payable days = (4,800 / (75,000 x (1-40%)) x 365 = 39

https://cfi.onlinetests.app/Assess.aspx?guid=583F0D2ABF814812AE8660CAD37129C7&a=R1 3/13
6/25/22, 11:53 AM Assessment Review - Corporate Finance Institute

3 The annual accounts receivable is 3,000; the annual sales 40,000, and the gross profit margin is 40%.

The receivable days estimated from the data above is _____.

Your Answer 27.4

Correct Answer 27.4

Explanation
Receivable days = (3,000/40,000) x 365 = 27.4

https://cfi.onlinetests.app/Assess.aspx?guid=583F0D2ABF814812AE8660CAD37129C7&a=R1 4/13
6/25/22, 11:53 AM Assessment Review - Corporate Finance Institute

4 The opening balance of Company A is 25,000, and the repayment is scheduled for 1,000 per month at an annual interest rate of 5%. Use
the average debt balance to calculate the interest payment.

The closing balance of debt at the end of the month is _____ and the interest payment is _____.

Your Answer 24,000; 104

Correct Answer 24,000; 102

Explanation
Closing balance = 25,000 - 1,000 = 24,000
Interest payment = (25,000 + 24,000) /2 x 5% /12 = 102

https://cfi.onlinetests.app/Assess.aspx?guid=583F0D2ABF814812AE8660CAD37129C7&a=R1 5/13
6/25/22, 11:53 AM Assessment Review - Corporate Finance Institute

5 To arrive at operating cash flows, you should start with _______, _______ non-cash items and then adding or subtracting changes in working
capital.

Your Answer net income, adding

Correct Answer net income, adding

Explanation
None.

https://cfi.onlinetests.app/Assess.aspx?guid=583F0D2ABF814812AE8660CAD37129C7&a=R1 6/13
6/25/22, 11:53 AM Assessment Review - Corporate Finance Institute

From the chart above, decision makers should pay most attention to the month:

https://cfi.onlinetests.app/Assess.aspx?guid=583F0D2ABF814812AE8660CAD37129C7&a=R1 7/13
6/25/22, 11:53 AM Assessment Review - Corporate Finance Institute

Your Answer Sep 2017

Correct Answer Sep 2018

Explanation

The cash balance in Sep 2018 get dangerously below zero, so management should be aware of this situation and plan activities accordingly.

https://cfi.onlinetests.app/Assess.aspx?guid=583F0D2ABF814812AE8660CAD37129C7&a=R1 8/13
6/25/22, 11:53 AM Assessment Review - Corporate Finance Institute

7 The PP&E gross book value at the start of the month is 60,000, and the CAPEX of the month is 12,000. The accumulated depreciation at
the start of the month is 25,000; the depreciation expense of the month is 750.
The net book value of PP&E calculated from the data above is _____.

Your Answer 46,250

Correct Answer 46,250

Explanation
Net book value of PP&E = (60,000 + 12,000) – (25,000 +750) = 46,250

https://cfi.onlinetests.app/Assess.aspx?guid=583F0D2ABF814812AE8660CAD37129C7&a=R1 9/13
6/25/22, 11:53 AM Assessment Review - Corporate Finance Institute

8 Data validation works for setting a reasonable range for _______.

Your Answer Inputs

Correct Answer Inputs

Explanation
None.

https://cfi.onlinetests.app/Assess.aspx?guid=583F0D2ABF814812AE8660CAD37129C7&a=R1 10/13
6/25/22, 11:53 AM Assessment Review - Corporate Finance Institute

The chart above is an example of a combination of a ________ chart and a ________ chart.

Your Answer stacked column, line

Correct Answer stacked column, line

https://cfi.onlinetests.app/Assess.aspx?guid=583F0D2ABF814812AE8660CAD37129C7&a=R1 11/13
6/25/22, 11:53 AM Assessment Review - Corporate Finance Institute

Explanation
None.

10 Before protecting a worksheet to avoid people from editing the formulas, you must ________.

Your Answer lock the formula cells

Correct Answer unlock the input cells

Explanation
None.

https://cfi.onlinetests.app/Assess.aspx?guid=583F0D2ABF814812AE8660CAD37129C7&a=R1 12/13
6/25/22, 11:53 AM Assessment Review - Corporate Finance Institute

Page 1 of 1

Summary

Return to Course

Software by

Version 11.2

Privacy Policy. Assessment content is copyright 2022, Corporate Finance Institute.

https://cfi.onlinetests.app/Assess.aspx?guid=583F0D2ABF814812AE8660CAD37129C7&a=R1 13/13