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If you’re a finance or accounting professional looking to take your career to new heights, earning the Certified Management Accountant (CMA) designation may be the next major step for you. Before you can sit for the CMA exam, it’s worth understanding the eligibility requirements, the exam itself, and the registration process. This guide walks through everything you need to plan the next leg of your career path.
What is a CMA, Anyways?
The Certified Management Accountant (CMA) designation signifies advanced expertise in financial planning, analysis, control, decision support, strategic financial management, and professional ethics. The credential is recognized globally, and earning it is rigorous. CMAs often work as financial analysts, financial planners, cost accountants, corporate controllers, and Chief Financial Officers.
The CMA is administered by the Institute of Certified Management Accountants, the certification affiliate of the Institute of Management Accountants (IMA).
Understand the Certified Management (CMA) Accountant Requirements
Two prerequisites govern eligibility, one educational and one professional.
- Education Requirement: Hold a bachelor’s degree from an accredited college or university, or a qualifying related professional certification. The IMA accepts degrees from any field of study, not just accounting or finance, and degrees from institutions outside the United States are accepted when the institution is accredited. Degrees from unaccredited institutions can be evaluated by an independent credential evaluation agency.
- Experience Requirement: Complete two continuous years of full-time professional experience in management accounting or financial management. Qualifying roles include financial analyst, budget analyst, cost accountant, controller, and similar positions. Part-time work of at least 20 hours per week also counts, with two years of qualifying part-time experience equaling one year of full-time experience.
You can sit for and pass the CMA exam before you have satisfied either requirement. You then have seven years from the date you pass the exam to complete both requirements and submit verification to the ICMA.
How to Register for the CMA Exam:
The path from account creation to exam day runs in one line.
- Join the IMA. Active IMA membership is required to enroll in the CMA program. Membership tiers run from a free basic account to student, academic, and professional levels.
- Enroll in the CMA program and pay the entrance fee. The CMA entrance fee is a one-time payment that opens your three-year window to pass both exam parts. It does not cover exam registration, which is billed separately for each part.
- Register for an exam part. Choose which part you want to take and which testing window you want to sit in. Registration fees are non-refundable, and payment is typically accepted by credit card, debit card, or PayPal.
- Receive your authorization. Once your registration is processed, the ICMA issues an authorization number confirming your eligibility to test, along with instructions for booking your appointment.
- Schedule at Prometric. Use your authorization number to book a date, time, and location through Prometric, the ICMA’s testing partner. Schedule early to secure your preferred slot.
If you do not pass both parts within three years of entering the program, any passed part expires and the entrance fee must be paid again.
The CMA Exam
The exam has two parts, which may be taken in either order.
- Part 1: Financial Planning, Performance, and Analytics. External Financial Reporting Decisions (15%), Planning, Budgeting, and Forecasting (20%), Performance Management (20%), Cost Management (15%), Internal Controls (15%), and Technology and Analytics (15%).
- Part 2: Strategic Financial Management. Financial Statement Analysis (20%), Corporate Finance (20%), Decision Analysis (25%), Risk Management (10%), Investment Decisions (10%), and Professional Ethics (15%).
Each part is computer-based and runs four hours. Candidates get three hours for 100 multiple-choice questions and one hour for the second section. You must score at least 50% on the multiple-choice section to advance to the second section.
A note on format changes. The ICMA is replacing the exam’s written essay scenarios with case-based questions, or CBQs. Each CBQ presents a short case followed by six to seven application items in formats such as drag-and-drop, multiple select, numerical entry, and list selection. The transition ran on a phased schedule through 2026, and case-based questions are now the format in use. Confirm the format for your window when you register.
Maintaining Your CMA Certification
Certification is a commitment to ongoing learning. To keep the designation in good standing, CMAs must satisfy two requirements every year.
- Continuing Education: Complete 30 hours of Continuing Professional Education (CPE) each calendar year, at least two hours of which must be in ethics. The ethics hours count toward the 30, not on top of them, and CMAs may carry forward up to 10 excess hours into the following year. CPE reporting begins at the start of the first full calendar year after your certification is issued.
- Active Membership: Maintain active IMA membership in good standing, including current dues.
Frequently Asked Questions
What fees are involved in the CMA certification process?
Three separate charges apply. IMA membership is an annual fee that varies by tier, with professional membership at the top and reduced rates for students and academics. The CMA entrance fee is a one-time charge, also discounted for students and academics. Exam registration is billed per part, at a professional rate and a reduced student and academic rate. Fees are set by the IMA and revised periodically, so confirm current amounts on the IMA website before you register.
Can I sit for the CMA exam without the professional experience?
Yes. You can take and pass the exam before completing the experience requirement. You then have seven years from passing the exam to finish it and submit verification.
What if I fail a part of the CMA exam?
You can retake it, but not in the same testing window. A part may only be attempted once per window, so a retake waits for the next one. You will also pay the exam registration fee again.
How often can I take the CMA exam?
The exam is offered in three testing windows each year, January through February, May through June, and September through October. You may sit for both parts in the same window if you are ready for both, but you cannot attempt the same part twice in one window.
Ready to Become a CMA?
Becoming a Certified Management Accountant takes dedication, discipline, and a commitment to continuous learning. For an ambitious accounting or finance professional, the credential is a significant career step. It demonstrates expertise in management accounting and financial planning, adherence to professional ethics, and a commitment to the highest industry standards. With the CMA designation behind you, you’ll be well equipped to advance within your organization or pursue new opportunities elsewhere.
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