TANCET 2016 MBA Stream Model Question Paper

Hi friends please find below a sample model paper for preparation for your Master of Business Administration (MBA) stream TANCET exam. Your suggestions for improvement are most welcome...

Directions (1-2): Study the following information and answer the questions given below:

Eight friends-A, B, C, D, E, F, G and H-are sitting around a circular table not necessarily in the same order. Three of them are facing outward while five are facing towards the centre. There are equal number of males and females in the group. C is facing the centre. E is sitting third to the right of C.

F is sitting third to the left of E. Three persons are sitting between F and B. The immediate neighbours of B are females. G is sitting third to the right of F. D is sitting third to the right of A. A is not an immediate neighbour of E. The immediate neighbours of E are males and are facing the centre. The immediate neighbours of D are females and face outside. The one sitting third to the left of B is a male. No female is an immediate neighbour of G.

1. Which of the following statements is true regarding H?

a) The one who is second to the right of H is a female.

b)  H is facing the centre.

c) H is a male.

d) The immediate neighbours of H are facing outside.

e) None is true

2. Four of the following five are alike in a certain way based on their seating positions in the above arrangement and hence form a group. Which of the following does not belong to the group?

a) BE

b) CG

c) GA

d) DH

e) AF 

3. In the question given below, which one of the five answer figures should come after the problem figures, if the sequence were continued:  

4.

5. What is the value of ‘?’ in the below matrix ?

6	1	5
2	1	1
4	2	2
?	3	2
7	1	6
8	3	5

a) 4

b) 5

c) 6

d) 7

e) None of these

6. Find the missing number:

7	?	4
2	5	3
1	6	3

a) 1

b) 4

c) -1

d) -3

e) -5

7. Which of the following books are not together?

a) Political science and Current Affairs

b) Economics and Thermodynamics

c) Economics and Current Affairs

d) Political Science and Thermodynamics

e) None of these

8. Which is the book between the two books on Thermodynamics?

a) Current Affairs

b) Economics

c) Political Science

d) No book

e) None of these

9. Which are the books at the second top and second last in the order?

a) Economics and Current Affairs

b) Thermodynamics and Political science

c) Economics and Thermodynamics

d) Two books on Economics

e) None of these

10. In each of the following question some statements are given. On basis of the statements determine which conclusion/s is/are true.

Statements: No bag is toy. Some curtains are toys. All walls are curtains.

Conclusions:

I. No wall is bag.

II. Some walls are toys.

III. No toy is wall.

IV. Some bags are curtains.

a) Only III follows

b) Only either II or III follows

c) Only I follows

d) Only I and either II or III follow

e) None of these

Question	Answer
1.	A
2.	C
3.	D
4.	E
5.	B
6.	C
7.	D
8.	B
9.	A
10.	B

Explanation: 2.

Explanation: 3.  The figure gets laterally inverted and vertically inverted alternately.

Explanation: 4. Only in figure (e), the shadings occupy similar positions in the two halves of the circle.

Explanation: 5. The sum of numbers in the second and third column equals the number in the first column.

Explanation: 6. Sum of all the columns of the matrix are 10. There are eight books kept on over the other. Two books each on Thermodynamics and Current Affairs, three books on Economics and one book on Politics. One Economics book is between two books on Thermodynamics while the book above the book on Political Science is a current affairs book. Counting from the top, the second, fifth and sixth books are on Economics. Two of them are between the books on Current Affairs. 

Explanation:9.

Thermodynamics

Economics

Thermodynamics

Current Affairs

Economics

Economics

Current Affairs

Political Science

Explanation:10.

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11 Explain in your words the role of a budget and its relationship with the strategic objectives of an organization.

12. You have been asked to prepare a document for a new member of staff that describes the various budgets that operate in the business. In preparing this document ensure that you describe the different budgets detailed below and provide an example of each one from your work environment:

Sales Budget

Revenue Budget

Cost of goods/services sold budget

Cash Budget or cash flow Projection

Inventory Budget

Profit and Loss Budget

Balance sheet Budget

13. Outline a budget development process and identify who is involved in the process.
14. Describe the checks that are performed to ensure a budget can be achieved.
15. Select either a trading or a manufacturing process. Identify five direct areas/reasons where you might require contingency; provide an example for each and explain its impact on the budget. Use the table format below or provide your own format.

16 Prepare a sales budget for March by developing an appropriate table using a spreadsheet program on the table below:

17. Using the above information, determine the budgeted cost of production(labour, materials and overheads) and the profit per item that can be expected for the normal monthly production, and each item to be produced for the special order.

18. Determine the total labour required for a standard month’s production and for the additional production for the month of March. You are advised that the total labour availability is 2,400 hours based on normal working hours. Since the existing working force is nearly fully utilized, are there any issues for Hasan? If so, what options would you investigate and what would you recommend given that overtime is costed at $ 75 per hour

19. What other issues might Hasan face? List at least three. For each issue suggest a contingency plan that you would expect to be in place

20.Describe a budget development coordination and approval process with which you are familiar.

21.What information should be disseminated to cost center managers in relation to budgets and plans?

22.To what extent should a team be involved in budget development? Give examples.

23.For what reasons might you adjust the format or the methods of communication about budgets to employees? Provide two examples where you made such adjustments.

24.Why is timing a relevant consideration in communicating budgets?

25. What legislative requirements of people with financial responsibilities need to understand?

26.Identify and describe four different types of support that you might provide to employees who have responsibilities in relation to implementing budgets or carrying out financial tasks. How is this support delivered and the effectiveness of it monitored?

27.Budget management involves the acquisition of resources in order to achieve the objectives of a budget. Explain how human resources, physical resources and financial resources need to be identified and accessed to ensure:

a) the team’s budget is met

b) financial operations are carried out effectively.

28. List at least six procedures that exist in an organization relating to tasks that are undertaken in relation to financial management.

29. Under what circumstances would you recommend to a colleague that they sought specialist advice in relation to budget management? Where would that advice be sourced and why?

30. Why is records management important? What are the potential consequences of having a poor records management system?

31.Research an organization or department and describe the range of cost elements it has. Give examples and comment on how the actual costs are recorded or determined.

32.Describe the key steps a manager should take to monitor and control expenditure.

33.Describe the reasons for producing a variance report.

34.If sales figures and income are ahead of budget on the variance report, why might a cost centre manager become concerned?

35.Describe the range of financial reports an organization needs to prepare to manage finances. Select one and describe its purpose, target audience and outcome of producing the report. Provide an example. Delete any confidential information if necessary.

36.Describe a range of circumstances in which a contingency plan for financial planning might be implemented.

37.What is the purpose of monitoring the implementation of a contingency plan?

38.What constitutes an effective financial management process? Give examples to illustrate your answer, including the skills and knowledge needed by managers.

39. List four different financial records you are responsible for and describe the relevance of the information they contain in terms of managing financial processes. Include the relevant source documents.

40.What is the purpose of preparing financial performance reports?

41. How can a person verify the accuracy of a financial management report? Provide an example.

42.Explain why timing is crucial when preparing financial reports.

43.Describe an improvement that needed to be made to a financial management process and how you monitored the process.

44.Develop a communication strategy for disseminating the budget to your team members. Provide timelines and detail what feedback you would require from team members.

45. Describe how you would respond if a team member has read the budget and asks:

46.What is the difference between gross profit and net profit?’

47. Why do we have to know about the budget at all?’

48. What support will you give us to achieve

49.You have just accepted a new job for a new company that has yet to start trading. You will be the budget manager in due course, but initially you have to set up systems that will be used in the organization. Describe what systems you would put in place to ensure records were appropriately maintained.

50. Use a flow chart or diagram to describe the financial management processes a manager of a work team is likely to be responsible for in your organization.Show what tasks they are responsible for and those delegated to group members.