Home :: CMA :: Exam Info

Certified Management Accountant Exam Info

The Certified Management Accountant (CMA) and Certified Financial Manager (CFM) exams are administered by The Institute of Certified Management Accountants (IMA) in over 200 locations both domestically and internationally.  The requirements for the Certified Management Accountant exam include both an educational and an experience component.  These are computer based exams and can be taken at Pometric Testing Centers.

Exam Format

During 2004, the CMA exam underwent substantial changes which became effective for those candidates who registered with the IMA after 6/30/04.  The new Certified Management Accountant exam format consists of the following sections:

Part 1: Business Analysis.  Comprised of 3 hours of 110 objective (multiple choice) questions.

  • Business Economics 25%
  • Global Business 20%
  • Internal Controls 15%
  • Quantitative Methods 15%
  • Financial Statement Analysis 25%

Part 2: Management Accounting and Reporting.  Comprised of 4 hours of 140 objective (multiple choice) questions.

  • Budget Preparation 15%
  • Cost Management 25%
  • Information Management 15%
  • Performance Measurement 20%
  • External Financial Reporting 25%

Part 3: Strategic Management.  Consists of 3 hours of 110 objective (multiple choice) questions.

  • Strategic Planning 15%
  • Strategic Marketing 15%
  • Corporate Finance 25%
  • Decision Analysis 25%
  • Investment Decision Analysis 20%

Part 4: Business Applications.  Is 3 hours in duration and has 7 essays/problems.

  • Includes subject matter from parts 1,2, and 3 as well as organization management, communication, behavioral issues, and ethical subject matter.
Additional information on the CMA and CFM exams can be found on the website of the Institute of Certified Management Accountants.