The CMA Exam will change from a 4 part to a 2 part format beginning May 1, 2010. This new program continues the relevance of the existing CMA program while focusing on critical skills of financial planning, analysis, control and decision support. For candidates in the current CMA program those examinations will continue to be available until December 31, 2010.

What’s the Same?

• The CMA program entrance fee is $200 ($75 for students/academics)
• Candidates have 3 years to complete the certification program
• Exams are offered in specific testing windows
• January & February (starting 2011)
• May & June
• September & October
• Exams are administered by computer at Prometric Testing sites
• Study materials are available from the IMA and other Review Course Providers

What’s Different?

The exam registration fee is $350 per part ($175 per part for students/academics)
The total cost for all parts decreases from $760 to $700
The exam consists of 2 parts
Part 1: Financial Planning, Performance & Control
Planning, Budgeting & Forecasting; Performance Management; Cost Management; Internal Controls; Professional Ethics
Part 2: Financial Decision Making
Financial Statement Analysis; Corporate Finance; Decision Analysis & Risk Management;
Investment Decisions; Professional Ethics
Each exam contains 100 multiple choice questions and 2 essay questions
The exam takes 4 hours: 3 hours for the multiple choice section and 1 hour for the essay
Essay questions are presented after the multiple choice section of the exam or after 3 hours, whichever comes first. You can’t go back to the multiple choice section once the essay section has started.
You must score at least 50% on the multiple choice section of the exam to be allowed to take the essay section. This ensures you don’t proceed if you don’t have a chance of achieving a passing score for the entire exam. If you are allowed to proceed it doesn’t mean you have passed as you still have to perform successfully on the essay section.
Immediate results are no longer available as the essay questions are graded off line. Scores will be mailed approximately 6 weeks after the close of the testing window.
The scoring range scale is 0 to 500 with 360 being a passing score.
Waivers/exemptions from exam parts are no longer permitted.
Some exam content has been removed as it is considered assumed knowledge while new subject areas have been added. For additional detail on exam content please refer to the Learning Outcome Statements the IMA website accessed by clicking here.
The education qualification has been modified slightly. The GMAT/GRE and Professional Designation alternatives to the bachelor’s degree requirement are eliminated.
If you have applied for certification in the current program you have the option to convert to the new CMA program at no cost.

If you don’t pass all the exams in the current CMA program by the 12/31/2010 deadline there is a transition program which you can review in more detail in a FAQ on the IMA website by clicking here.

For further information you can visit the IMA website at www.imanet.org/certification or call IMA Customer Service at 1-800-638-4427.