CIMAPRO19-P03-1 Exam - Topic 5 Question 101 Discussion

Actual exam question for CIMA's CIMAPRO19-P03-1 exam

Question #: 101
Topic #: 5

[All CIMAPRO19-P03-1 Questions]

A US company has to pay 500,000 for a new machine.

You have the following information on currencies.

EUR1 = 1.2300

EUR 1= USD1.6200

What is the cost of the machine in USD?

Give your answer to the nearest $.

A$658501, $658537

Show Suggested Answer

Suggested Answer: A

by Herminia at Jan 28, 2026, 01:51 PM

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Ernest

5 days ago

I practiced a similar question where we had to convert currencies, and I think we multiply the EUR amount by the exchange rate to get USD.

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Latrice

10 days ago

I think I remember that we need to convert EUR to USD first, but I'm not entirely sure how to do the calculations.

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Ming

15 days ago

Hmm, I'm not sure how to approach this. I think I need to do some currency conversions, but I'm not confident I'm doing it right.

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Yong

20 days ago

No problem, I've got this. I'll start by converting the EUR to USD, then I can round the final amount to the nearest dollar.

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Rolande

26 days ago

I'm a bit confused. Should I use the first exchange rate or the second one? I'm not sure which one to apply first.

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Karon

1 month ago

First, I'll convert the EUR to USD using the second exchange rate given. Then I'll round the final answer to the nearest dollar.

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Loreta

1 month ago

Okay, let's think this through step-by-step. We need to convert the EUR cost to USD.

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