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The CMA Examination

The CMA is a two part exam covering 11 most crucial practice areas in management accounting. It requires knowledge, comprehension, application, analysis, synthesis, and evaluation of the following:


Part 1: Financial Reporting, Planning, Performance, and Control

            1) 15% External Financial Reporting Decisions

            2) 30% Planning, Budgeting, and Forecasting

            3) 20% Performance Management

            4) 20% Cost Management

            5) 15% Internal Controls


 Part 1 exam duration: 4 Hours, 100 multiple choice questions and two essays



Part 2: Financial Decision Making

           6) 25% Financial Statement Analysis

           7) 20% Corporate Finance

           8) 20% Decision Analysis

           9) 10% Risk Management

         10) 15% Investment Decisions

         11) 10% Professional Ethics


Part 2 exam duration: 4 hours, 100 multiple choice questions and two essays


Exam Order -  Exam can be taken in any order



Passing Score - Computer grades the multiple-choice section and subject level experts grades the essay section.  The result of multiple-choice and essay are combined to arrive at an overall composite scaled score.


You have to correct 50% of the multiple-choice questions, and then you will be allowed to move on to the essay portion of the exam.


Passing score is minimum 360 on a scale of 0 - 500.