The CMA Exam Structure
Two Exam Parts
The CMA exam has 2 parts covering a wide range of accounting topics:
Financial Planning, Performance, and Analytics
15% External Financial Reporting Decisions
20% Planning, Budgeting, and Forecasting
20% Performance Management
15% Cost Management
15% Internal Controls
15% Technology and Analytics
Strategic Financial Management
20% Financial Statement Analysis
20% Corporate Finance
25% Decision Analysis
10% Risk Management
10% Investment Decisions
15% Professional Ethics
Types of Exam Questions
Each exam part has 100 multiple-choice questions (MCQs) and 2 essay scenarios.
100 Multiple-Choice (3 Hours)
10 of the 100 questions are being evaluated by the ICMA as possible future exam questions, and are not part of your exam score and will not affect whether you pass or fail.
2 Essays (1 Hour)
Each essay has between 4 and 8 smaller individual questions called "Requirements" based on the facts provided. The Requirements may build on each other.
How is My Exam Score Determined?
CMA Exam Score. The CMA exam has a scaled scoring system, which means candidates get different points based on the exam difficulty. You have to get 360 points out of 500 to pass the exam. Note that this does not correspond to 72%; there is no direct correlation between points and percents.
A score of 360 is needed to pass.
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