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What Are the Certified Management Accountant

Requirements?

Prospective CMAs must follow requirements set by the IMA. Accountants must complete
the CMA program through IMA, pass the CMA exam, and complete all CMA requirements.

Professionals who meet IMA's educational and experience prerequisites may pursue CMA
certification. Certification candidates must hold active IMA membership. All CMA program

enrollees get IMA membership. Aspiring CMAs also need to pass a two-part exam and follow

IMA's code of professional ethics.

People should note that IMA charges CMA program fees. Professional members must pay

$250 to enroll in the program and $415 for each part of the CMA exam. Student members

pay $188 and $311, respectively.

Educational CMA Requirements

Aspiring CMAs should hold either a bachelor's degree from an accredited college or an IMA-
approved professional certification. An independent agency must evaluate any non-

accredited degrees.

CMA candidates with bachelor's degrees should have their schools email official transcripts
directly to IMA. Those who completed professional certifications may ask their certifying

organizations to email official letters to IMA.

Prospective enrollees must verify their education within seven years of taking the CMA
exam.

Read about certification programs in financial analysis

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Read about certification programs in internal auditing

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Read about certification programs in fraud examination

Read about certification programs in fraud examination

Read about bachelor's degree programs in accounting

Professional CMA Requirements

CMA candidates should have worked in management accounting or financial management

for at least two straight years.

If possible, the professional experience should be full time. However, candidates who work

at least 20 hours per week in continuous, part-time roles can apply their experience toward

certified management accountant requirements. Part-time experience counts at a rate of

one year for every two years worked.

Full-time teaching positions count toward professional experience requirements if at least

60% of the course load covers accounting or finance above the introductory level.

What Does the CMA Exam Cover?

CMA exam-takers can take parts one and two in any order. Part one covers financial

planning, performance, and analytics. Part two explores financial management. Each part

breaks down as follows:

Part One: financial planning, performance, and analytics

External financial reporting decisions (15%)

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Planning, budgeting, and forecasting (20%)

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Performance management (20%)

Cost management (15%)

Internal controls (15%)

Technology and analytics (15%)

Part Two: strategic financial management

Financial statement analysis (20%)

Corporate finance (20%)

Decision analysis (25%)

Risk management (10%)

Investment decisions (10%)

Professional ethics (15%)

Each exam part takes four hours to complete, entailing 100 multiple-choice questions and
two 30-minute essays. After completing and exiting the multiple-choice section, test-takers

cannot go back. Candidates access the essay questions either after completing the multiple-
choice section or after three hours, whichever comes first.

Test-takers must answer at least half of the multiple-choice questions correctly for each
part of the CMA exam to move on to the essay section. The essay section poses 10-12
written response or calculation questions. Essay questions comprise two scenarios

describing common business situations.

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Candidates take the CMA exam at Prometric testing centers located across the world. The
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test follows a computer-based format. The CMA exam fee is nonrefundable. Test-takers

more than 15 minutes late for their exam lose their appointment and must register again at
full cost. Prometric provides paper and pencils.

On the day of the CMA exam, test-takers should do the following:

Arrive at the testing center 30 minutes before the exam.

Sign the Prometric log book.

Provide a fingerprint.

Bring a valid ID. Accepted forms of ID include a passport, U.S. passport

card, driver's license, military ID card, and credit card.

Bring a calculator.

CMA Exam Structure

SECTION

Financial Planning, Performance, and Analytics

FORMAT

100 multiple-choice questions, two essay questions

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