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100+ Free CMA Foundation Paper 3 Practice Questions

Prepare for the CMA Foundation Paper 3: Fundamentals of Business Mathematics and Statistics exam with instant access — no signup required.

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Key Facts: CMA Foundation Paper 3 Exam

100

Total Marks

ICMAI Syllabus 2022

2 hrs

Exam Duration

ICMAI Syllabus 2022

40% / 60%

Maths / Statistics Weight

ICMAI Syllabus 2022

No

Negative Marking

ICMAI Exam Pattern

40%

Pass Mark per Paper

ICMAI Examination Rules

Rs. 6,000

Foundation Fee

ICMAI

CMA Foundation Paper 3 (FBMS) is an offline, objective MCQ paper of 100 marks completed in 2 hours with no negative marking under ICMAI's Syllabus 2022. Section A, Fundamentals of Business Mathematics, carries 40% and covers ratios, interest, annuities, progressions, set theory, indices, logarithms, permutations, combinations, quadratic equations, and basic calculus. Section B, Fundamentals of Business Statistics, carries 60% and covers data representation, central tendency, dispersion, skewness, correlation, regression, probability, index numbers, and time series. Passing requires at least 40% in each paper and 50% aggregate across the four Foundation papers.

Sample CMA Foundation Paper 3 Practice Questions

Try these sample questions to test your CMA Foundation Paper 3 exam readiness. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1If A:B = 2:3 and B:C = 4:5, what is A:B:C?
A.8:12:15
B.2:3:5
C.2:12:5
D.8:3:15
Explanation: To combine ratios with a common term B, scale them so B is equal. A:B = 2:3 and B:C = 4:5; multiply the first by 4 and the second by 3 to make B = 12, giving A:B = 8:12 and B:C = 12:15, so A:B:C = 8:12:15.
2Two numbers are in the ratio 5:7 and their sum is 96. What is the larger number?
A.40
B.56
C.48
D.60
Explanation: Let the numbers be 5x and 7x. Their sum is 12x = 96, so x = 8. The larger number is 7x = 7 x 8 = 56.
3The fourth proportional to 4, 9 and 12 is:
A.27
B.16
C.36
D.21
Explanation: If a:b = c:d, then d is the fourth proportional and d = (b x c) / a. Here a = 4, b = 9, c = 12, so d = (9 x 12) / 4 = 108 / 4 = 27.
4If x varies directly as y and x = 15 when y = 5, what is x when y = 8?
A.20
B.24
C.18
D.26
Explanation: Direct variation means x = ky. From x = 15 and y = 5, k = 15/5 = 3. When y = 8, x = 3 x 8 = 24.
5What is the simple interest on Rs. 8,000 at 6% per annum for 3 years?
A.Rs. 1,440
B.Rs. 1,200
C.Rs. 1,600
D.Rs. 960
Explanation: Simple interest = (P x R x T) / 100 = (8000 x 6 x 3) / 100 = 144000 / 100 = Rs. 1,440.
6A sum doubles itself in 8 years at simple interest. What is the annual rate of interest?
A.10%
B.12%
C.12.5%
D.8%
Explanation: If a sum doubles, the interest earned equals the principal, so SI = P. Using SI = (P x R x T)/100, P = (P x R x 8)/100, giving R = 100/8 = 12.5%.
7What is the compound interest on Rs. 10,000 at 10% per annum compounded annually for 2 years?
A.Rs. 2,000
B.Rs. 2,100
C.Rs. 1,900
D.Rs. 2,200
Explanation: Amount = P(1 + R/100)^T = 10000 x (1.10)^2 = 10000 x 1.21 = Rs. 12,100. Compound interest = 12,100 - 10,000 = Rs. 2,100.
8The present value of Rs. 1,100 receivable after 1 year at 10% per annum is:
A.Rs. 1,000
B.Rs. 990
C.Rs. 1,010
D.Rs. 1,100
Explanation: Present value = Future value / (1 + r)^n = 1100 / (1.10)^1 = 1100 / 1.10 = Rs. 1,000.
9The present value of an ordinary annuity of Rs. 5,000 per year for 3 years at 10% (annuity factor 2.4869) is approximately:
A.Rs. 15,000
B.Rs. 12,434
C.Rs. 13,500
D.Rs. 11,000
Explanation: Present value of an ordinary annuity = Annual payment x annuity factor = 5,000 x 2.4869 = Rs. 12,434.50, approximately Rs. 12,434.
10In an arithmetic progression, the 5th term is 17 and the 10th term is 32. What is the common difference?
A.2
B.3
C.5
D.4
Explanation: In an AP, the nth term is a + (n-1)d. The difference between the 10th and 5th terms is 5d = 32 - 17 = 15, so d = 15/5 = 3.

About the CMA Foundation Paper 3 Exam

CMA Foundation Paper 3, Fundamentals of Business Mathematics and Statistics (FBMS), is a fully objective MCQ paper under ICMAI's Syllabus 2022. It carries 100 marks over 2 hours with no negative marking, and tests business mathematics (40%) and business statistics (60%).

Assessment

Question count not published by the exam provider

Time Limit

2 hours

Passing Score

40% per paper and 50% aggregate across the four Foundation papers

Exam Fee

Part of the Rs. 6,000 single CMA Foundation registration fee; no separate Paper 3 fee (Institute of Cost Accountants of India (ICMAI))

CMA Foundation Paper 3 Exam Content Outline

40%

Section A: Fundamentals of Business Mathematics

Ratios, variations and proportions, simple and compound interest, time value of money and annuities, arithmetic and geometric progressions, set theory and Venn diagrams, indices and logarithms, permutations and combinations, quadratic equations, and basic calculus applied to revenue, cost, and optimization.

60%

Section B: Fundamentals of Business Statistics

Statistical representation of data, frequency distributions and graphs, measures of central tendency and dispersion, skewness, correlation and regression, probability and mathematical expectation, index numbers, and time series analysis.

How to Pass the CMA Foundation Paper 3 Exam

What You Need to Know

  • Passing score: 40% per paper and 50% aggregate across the four Foundation papers
  • Assessment: Question count not published by the exam provider
  • Time limit: 2 hours
  • Exam fee: Part of the Rs. 6,000 single CMA Foundation registration fee; no separate Paper 3 fee

Keys to Passing

  • Work through all 100 available questions
  • Review every answer and explanation
  • Track weak areas and revisit them
  • Use our AI tutor for tough concepts

CMA Foundation Paper 3 Study Tips from Top Performers

1Allocate more time to Section B because business statistics carries 60% of the marks.
2Because there is no negative marking, attempt every MCQ and never leave a question blank.
3Memorise core formulas for interest, annuities, standard deviation, correlation, and index numbers, then drill them on practice MCQs.
4Practise quartile, skewness, correlation, and regression numericals until you can solve them quickly under time pressure.
5Use the official ICMAI Syllabus 2022 study material and model question papers to match the exam's MCQ style.
6Build an error log to track formula mistakes versus calculation slips and review it before the exam.

Frequently Asked Questions

What is CMA Foundation Paper 3?

CMA Foundation Paper 3 is Fundamentals of Business Mathematics and Statistics (FBMS), one of four papers in the ICMAI CMA Foundation course. It is a fully objective MCQ paper of 100 marks completed in 2 hours.

What is the syllabus weightage for CMA Foundation Paper 3?

Under ICMAI's Syllabus 2022, Section A (Fundamentals of Business Mathematics) carries 40% and Section B (Fundamentals of Business Statistics) carries 60% of the 100 marks.

Is there negative marking in CMA Foundation Paper 3?

No. The CMA Foundation papers, including Paper 3, are objective MCQ papers with no negative marking, so candidates should attempt every question.

What is the passing requirement for CMA Foundation Paper 3?

To clear the CMA Foundation, a candidate must score at least 40% in each individual paper and at least 50% aggregate across all four Foundation papers.

How long is the CMA Foundation Paper 3 exam?

Paper 3 is an offline objective examination of 100 marks with a duration of 2 hours.

What topics are tested in CMA Foundation Paper 3?

Mathematics topics include ratios, interest, annuities, progressions, set theory, logarithms, permutations, combinations, quadratic equations, and basic calculus. Statistics topics include data representation, central tendency, dispersion, correlation, regression, probability, index numbers, and time series.

How much does the CMA Foundation cost?

ICMAI charges a single CMA Foundation registration fee of Rs. 6,000 that covers all four papers, including Paper 3; there is no separate per-paper fee.

Who conducts the CMA Foundation exam?

The Institute of Cost Accountants of India (ICMAI), a statutory body, conducts the CMA Foundation examination at its centres across India and select overseas locations.