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Frequently Asked Questions
CMA Exams
CMA stands for Certified Management Accountant. The certification is awarded by International Management Accountants (IMA) USA and is represented by members in 140 countries throughout the world. For Indian students, it is the equivalent of Indian CMA (Formerly known as CWA). For more details, please visit https://mileseducation.com/cma
Below is the stepwise exam procedure :
- Register for the CMA exam by paying the registration fee and CMA Certification Entrance Fee.
- Receive a Registration acknowledgment form that provides your authorization number(s), testing window(s), the Instructions for Candidates, and access to the CMA Exam Support Package.
- Schedule your exam appointment(s) with Prometric.
- Appear for your scheduled exam appointment(s) with the required identification documents.
- Select Miles Education as your trusted training partner and prepare for the exam. For more info, please visit https://mileseducation.com/cma/ima-wiley-miles
Exams are administered through the worldwide network of Prometric Testing Centers and are available in accordance with local customs. There are many locations in India and throughout the U.S. and internationally. To locate a Testing Center and schedule exam appointments, visit https://www.prometric.com/test-takers/search/icma
Exams are offered in three testing windows around the year:
- January and February
- May and June
- September and October
An exam part may be taken only once in a testing window. All exam retakes require a new registration along with payment of appropriate fees.
All CMA candidates have three years to pass Part 1 and Part 2 of the exam. The time period will begin with the date of your entry into the CMA program by payment of the CMA Exam Certification Fee. If you do not complete the two-part exam within three years, credit for the part passed will expire and you will have to retake the exam.
Part 1 of the US CMA certification broadly covers Financial Planning, Performance, and Analytics.
The following six topics covered in CMA Part 1:
- External Financial Reporting Decisions 15%
- Planning, Budgeting, and Forecasting 20%
- Performance Management 20%
- Cost Management 15%
- Internal Controls 15%
- Technology and Analytics 15%
Part 2 of the US CMA certification broadly covers Strategic Financial Management.
The following six topics covered in CMA Part 2:
- Financial Statement Analysis – 20%
- Corporate Finance – 20%
- Decision Analysis – 25%
- Risk Management – 10%
- Investment Decision – 10%
- Professional Ethics – 15%
Any part can be written and depends on students' experience and preparation level for each part.
Each exam part will consist of 100 multiple choice questions and two 30-minute essay questions. You will have 3 hours to complete the multiple-choice section and one hour to complete the essays. The essays will be presented after you have completed the multiple-choice section of the exam or after 3 hours, whichever comes first. Once you complete and exit the multiple-choice section of the exam, you cannot go back. You must remain in the essay section to complete the exam. The essay section consists of 8-10 written response or calculation questions based on two scenarios, describing a typical business situation.
Note: You must answer at least 50% of the multiple-choice questions correctly to be eligible to take the essay section.
All scores on the CMA exams are expressed as scaled scores, ranging from 0 to 500, with the passing score set at 360 out of 500.
It is not mandatory for you to hold an accounting background to pass the CMA examinations, but yes it can be challenging in getting yourself acquainted with the finance and accounting terminologies if you do not have an accounting background.
The CMA certification fee includes credential review for educational and experience qualification, 6 months access to the CMA Exam Support package, final score report, performance feedback reports for those who do not pass, a personalized certificate for office display, and congratulatory notifications to employer or others.
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