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Is CMA USA a good option?

  • 2019-08-13
  • In CPA USA
Is CMA USA a good option?

The Certified Management Accountant (CMA) certification which is administered by the Institute of Management Accountants is the globally recognized benchmark for management accountants and financial professionals. Passing the CMA is a testament to a financial professional’s skill sets in quantitative analysis, logical reasoning and decision-making abilities, all of which are highly valued in the financial world. Earning the CMA can give you the career boost that you have been looking for!

The CMA exam is conducted in two parts. The duration of the exam is about 4 hours and there are 100 questions and two essay questions in each part. The essay question includes 8-10 written responses or calculations for tackling business situations described in the problem.

Part 1 covers financial reporting, planning, performance, and control.

  • Length: The exam is broken up into two, you will have 3 hours to finish the multiple choice questions and one hour to finish the essay section.
  • Format: Each exam consists of 100 multiple choice questions and two 30 minute essay questions.
  • Strategy: Once you finish the MCQ’s you cannot go back. To move onto the essay section, you will need to have got at least 50% of the MCQ’s right.
  • Passing Score – The exam is scored on a 0-500 scoring system. To have successfully passed the exam, you need at least a 360 score on the exam.

Topic Wise Weightage – Here is the topic wise weightage for the exam syllabus:

  • External financial reporting decisions: 15%
  • Planning, budgeting, and forecasting: 30%
  • Performance management: 20%
  • Cost management: 20%
  • Internal controls: 15%

Pass rate and required study hours – The pass rate is around 50%. The recommended study hours for Part 1 (which is considered to be more difficult than part 2) is 150-170 hours.

Part 2 covers financial decision making.

  • Length: The exam is broken up into two, you will have 3 hours to finish the multiple choice questions and one hour to finish the essay section.
  • Format: Each exam consists of 100 multiple choice questions and two 30 minute essay questions.
  • Strategy: Once you finish the MCQ’s you cannot go back. To move onto the essay section, you will need to have got at least 50% of the MCQ’s right.
  • Passing Score: The exam is scored on a 0-500 scoring system. To have successfully passed the exam, you need at least a 360 score on the exam.

Pass rate and required study hours – The pass rate is around 50%. The recommended study hours for Part 2 is 150-170 hours.

  • Topic Wise Weightage – Here is the topic wise weightage for the exam syllabus
  • Financial statement analysis: 25%
  • Corporate finance: 20%
  • Decision analysis: 20%
  • Risk management: 10%
  • Investment decisions: 15%
  • Professional ethics: 10%

? When does the exam happen?

The candidate can appear for the examination in any of the following months

  • January and February
  • May and June
  • September and October

In India, the test is administered by Prometric testing centers. You’ll have to schedule your exams at least 72 hours prior to book a slot to appear for the examination.

Eligibility for CMA USA

To be eligible for the CMA certification, candidates must hold a bachelor’s degree and have two years of full-time continuous work experience in management accounting or financial management and must have passed the CMA exam , Simandhar Education is also the training partners for CMA USA , for more details on Simandhar education- Click here

If you do not have the work experience yet, you can appear for the CMA exam and after having cleared the exam you can get the required experience for the certification.

CMA USA Examination Format

The CMA USA exam is fully computerized and is available at hundreds of prometric centers around the world. Candidates can take the exam 6 months out of the 12 each year.

There are two parts in the exam. Each part is 3 hours long for 100 multiple choice questions, representing 75% of the exam score. The second section is essay writing representing the remaining 25%. You will be given 30 minutes for each of the two essays. Total testing duration is 4 hours.

You must pass at least 50% of the first (i.e. multiple choice) section in order to advance to the essay questions. You can use any time remaining from the multiple choice questions towards the essay portion.

Fees

Simandhar Education is a leading CMA training provider. They are the only Course Provider for CMA to be placed in India successfully apart from training . Tuition fees comes to Rs. 35000 INR

On above of this , you will need to pay for acquiring Online Test Banks of Becker , for exam fees and membership fees to IMA. Overall, the total fees (including tuition fees) will come to about Rs. 1.25 lakhs if you are a student. If you are a professional, the course will cost about Rs. 1.5 lakhs.

The overall time to complete the course is 8- 9 months and daily there are 2 hours which need to be spent accordingly. I would recommend to write Part 2 and then Part 1

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