CMA
Offered by Institute of Management Accountants (IMA)
The Certified Management Accountant (CMA) from IMA focuses on management accounting and corporate finance — financial planning, analysis, control...
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CMA exam at a glance
Format
Two parts; each part has 100 multiple-choice questions (75% of score) plus two case-based scenarios (25% of score)
Duration
4 hours per part (3 hours MCQ + 1 hour case-based)
Delivery
Prometric test center
Passing score
360 on a 0–500 scale, per part (must clear 50% of MCQs to unlock the case section)
Exam cost
Exam fees per part plus an IMA membership and CMA entrance fee (varies by member category)
Validity
Maintain with IMA membership and 30 CPE hours per year
Prerequisites
Bachelor's degree (or approved certification) and 2 years of relevant experience — can be completed within 7 years of passing
About the CMA certification
The Certified Management Accountant (CMA) from IMA focuses on management accounting and corporate finance — financial planning, analysis, control, decision support, and strategy. It's designed for accountants and finance professionals working inside businesses rather than in public accounting.
The exam has two parts, and from 2026 the constructed-response section uses case-based questions instead of essays.
Who it’s for: Management accountants and corporate finance professionals pursuing FP&A and finance-leadership roles.
Official exam page· Details verified 2026-08
What the CMA exam covers
- Part 1 — Financial Planning, Performance, and Analytics
- Part 2 — Strategic Financial Management
How to study for the CMA
- 1Join IMA and register for the CMA program.
- 2Study Part 1 (planning, budgeting, performance, cost management, internal controls, analytics).
- 3Study Part 2 (financial statement analysis, corporate finance, decision analysis, risk, ethics).
- 4Practice the case-based question format that replaced essays in 2026.
- 5Sit each part when you're consistently scoring above the passing threshold on mocks.
CMA — frequently asked questions
How is the CMA different from the CPA?
The CPA centers on public accounting, audit, and tax; the CMA centers on management accounting, corporate finance, and strategic decision-making inside organizations.