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.