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USA
Certified Management Accountant (CMA) Exam
600 questions
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About this exam
The Certified Management Accountant (CMA) Exam is the professional examination for the U.S. Certified Management Accountant credential, administered by the Institute of Management Accountants (IMA). It is designed for accountants and finance professionals who want to demonstrate skills in planning, analysis, control, and financial decision-making. The exam has two parts: Financial Planning, Performance, and Analytics, and Strategic Financial Management. Candidates may take the parts separately, and the credential also requires meeting IMA education, experience, and membership requirements.
Part 1 covers areas such as external financial reporting, planning and budgeting, performance management, cost management, internal controls, and technology and analytics. Part 2 focuses on financial statement analysis, corporate finance, decision analysis, risk management, investment decisions, and professional ethics. Candidates should be ready to apply concepts to business scenarios, not just recall definitions; topics such as revenue recognition, cash flows, master budgets, and variance analysis require careful interpretation. For the 2027–2028 cycle, check IMA’s current exam materials for the latest content outline and administration details.
How to prepare for the CMA Exam
- Use the current IMA content specification outline to map both exam parts, then prioritize weaker areas such as revenue recognition, balance sheets and cash flows, budgeting, and variance analysis.
- Build a study schedule that alternates concept review with timed multiple-choice questions and essay-style business scenarios; review why each answer is right or wrong.
- Take full-length timed practice sessions and keep an error log. Revisit the relevant concepts and confirm exam policies and content updates in IMA’s official candidate resources.
FAQ
Who is eligible to take the CMA Exam?
The CMA is intended for people pursuing management accounting and financial management roles. IMA’s education, work-experience, and membership requirements apply to earning the certification; check the current IMA rules to confirm how they apply to your circumstances and when each requirement must be completed.
What is the format of the CMA Exam?
The exam has two separately scheduled parts. Each part includes multiple-choice questions and essay questions based on business situations. Check IMA’s current candidate materials for the applicable time limits, delivery details, and any format updates.
What subjects are covered on the CMA Exam?
Part 1 covers financial planning, performance, and analytics, including external financial reporting, budgeting, and variance analysis. Part 2 covers strategic financial management, including financial statement analysis, corporate finance, risk, investment decisions, and ethics. Use the current IMA content outline as your definitive study guide.