Certified Management Accountant (CMA) Practice Exam

The Certified Management Accountant (CMA) certification, offered by the Institute of Management Accountants (IMA), is a globally recognized professional designation for accounting and finance professionals. Passing the CMA exam demonstrates your mastery of critical financial management skills, strategic planning abilities, and decision-making expertise – all valuable assets in today's dynamic business environment.

Who Should Take the CMA Exam?

• Accountants
• Financial Analysts
• Management Accountants
• Budget Analysts
• Internal Auditors

Prerequisites for the CMA Exam

The CMA program has the following eligibility requirements:

• Bachelor's degree: You must hold a bachelor's degree in accounting, finance, business administration, or a related field from an accredited university. Some exceptions may apply for relevant professional experience.
• Experience requirement: You'll need two years of relevant work experience in management accounting or financial management to earn the CMA certification. You can fulfill this requirement within seven years of passing both parts of the CMA exam.

Roles and Responsibilities

With a CMA certification, you might qualify for various roles with promising career paths, such as:

• Financial Analyst: Providing financial analysis, forecasting, and strategic recommendations to support business decisions.
• Controller: Overseeing the financial accounting function, internal controls, and financial reporting for an organization.
• Chief Financial Officer (CFO): Leading the organization's financial strategy, managing financial risks, and overseeing financial operations.
• Management Accountant: Partnering with business units to analyze costs, optimize performance, and make data-driven financial decisions.

Exam Details

• Exam Name: Certified Management Accountant (CMA)
• Length of Time:  4 Hours 

Course Outline

Candidates for CMA certification must complete all required examination parts. 

•  Part 1: Financial Planning, Performance, and Analytics (4 hours – 100 multiple-choice questions and two 30-minute essays) 
•  Part 2: Strategic Financial Management (4 hours – 100 multiple-choice questions and two 30-minute essays)