The CMA exam leads to the Certified Management Accountant credential from the Institute of Management Accountants (IMA). It focuses on financial planning, analysis, control and decision support. It’s the management-accounting counterpart to the CPA exam.
Use our free CMA practice test to drill both parts.
Key takeaways
- Two parts, each 4 hours, with multiple-choice and written or case-based questions.
- A passing score of 360 on a 0–500 scale.
- You need a bachelor’s degree and 2 years of relevant experience to certify.
- IMA is updating the exam format starting in September/October 2026. Check IMA for your window.
USA CMA Exam: Quick Facts
- Offered by
- IMA (Institute of Management Accountants)
- Parts
- Part 1 and Part 2
- Time
- 4 hours per part
- Passing
- 360 / 500
- Cost
- $300 entrance + $495 per part (member)
CMA Exam Parts
| Part | Focus |
|---|---|
| Part 1: Financial Planning, Performance and Analytics | External reporting, planning and budgeting, performance management, cost management, internal controls, technology and analytics |
| Part 2: Strategic Financial Management | Financial statement analysis, corporate finance, decision analysis, risk management, investment decisions, professional ethics |
CMA Exam Cost
Budget for IMA membership, the one-time CMA entrance fee (about $300 for professionals) and the per-part exam fee (about $495 per part for members). Students and academics pay reduced rates. Retakes cost the full part fee again.
More on CMA Exam Cost →CMA vs. CPA
The CPA is a state license focused on audit, tax and financial reporting. The CMA is a global certification focused on internal, corporate finance roles. Many accountants hold both. Finance professionals also compare it with the CFA.
More on CMA vs. CPA →Free practice test
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Go to the USA CMA Exam practice test →USA CMA Exam FAQs
How many parts is the CMA exam?
Two: Part 1 (Financial Planning, Performance and Analytics) and Part 2 (Strategic Financial Management).
Full answer →How much does the CMA exam cost?
Roughly $300 for the entrance fee plus about $495 per part for IMA members, plus annual membership dues.
Full answer →Is the CMA exam hard?
Yes. Global pass rates are typically around 40–50% per part, so plan 150+ hours of study per part.
Full answer →Official sources
Disclaimer: This guide is for general information and is not financial, tax, insurance or investment advice. Exam details, fees, blueprints and product terms change. Confirm with the official organization or a licensed professional. Read our editorial policy.