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Oklahoma State University
School of Accounting

Spears School of Business at Oklahoma State University

CMA Exam Information

Overview

The Association of Accountants and Financial Professionals in Business logo

CMA® (Certified Management Accountant) is the gold standard of certification in management accounting. It is unique among professional and academic credentials, designed specifically for accounting and financial management professionals in business. Achieving the CMA designation demonstrates professional expertise in financial planning, analysis, control, decision support, and professional ethics – essential skills sought after by successful organizations and their financial team leaders.

IMA® (Institute of Management Accountants) is committed to supporting the education of future accounting and finance professionals working in business. As part of this effort, IMA has instituted the CMA Scholarship Program which honors top students by recognizing them with this scholarship.

Recipients of the CMA Scholarships will receive a comprehensive package of benefits enabling them to study for and take the CMA exam at no cost. The benefits include:

  • IMA membership for up to 3 years while pursuing completion of the CMA exam
  • Entrance fee to the CMA program
  • Exam Support Package – an assessment tool that can help assess the content covered on the CMA exam
  • Registration fees for the first attempt at both parts of the CMA exam
  • Wiley CMAexcel test bank access for up to 2 years for both CMA exam parts (U.S. students only)

The CMA Scholarship is activated at the time a nominee joins IMA and registers for the CMA Program. The scholarship recipient has up to 3 years to successfully complete both parts of the CMA exam.

With respect to the CMA exam, you should plan for about 150-170 hours of studying per part; 300 hours of studying in total. Parts 1 and 2 of the CMA exam include 100 multiple choice questions and 2 essays each, with an allotted testing time of 4 hours per exam. Both parts of the CMA exam are offered in three testing windows: January-February; May-June; September-October. One or both parts may be taken in any window and in any order. You are required to test at a Prometric testing center.

CMA candidates don’t have to complete their bachelor’s degree to be eligible to take the exam. Accordingly, CMA candidates can sit for the CMA exam while they are still undergraduate students, provided they are registered for six credits per semester during the academic year. More than 20% of CMA candidates globally are students.

The ICMA doesn’t specify any number of accounting or business-related credits to take the CMA exam, but the candidate must complete a bachelor’s degree, in any area, from an accredited college or university and have at least 2 years of full-time work experience in management accounting or financial management within seven years of passing the CMA examination to be eligible to earn the designation.

For more information about the CMA exam or the Institute of Management Accountants, visit the IMA’s website at https://www.imanet.org/.

CMA® Exam Fees

Without the CMA Scholarship, students can expect to pay the following exam fees:

1. IMA Membership Fee

The IMA membership is an annual fee ranging from $39 to $245 depending on whether you are a student, an academic, or a professional member.

2. CMA Entrance Fee

The entrance fee is a one-off fee that allows you to take part in the CMA program, which is the route to becoming a CMA in the US. The fee ranges from $188 to $250.

3. CMA Examination Fee

The registration fee for the exam ranges from $311 to $415 per part, which means you’ll have to pay $622 to $830 altogether.

  Student [1] Academic Regular
1. IMA Membership [2] $39 $135 $245
2. CMA Entrance $188 $188 $250
3. Exam Registration      
Part  $311 $311 $415
Part 2 $311 $311 $415
Total $849 $945 $1,325

Note:

  1. The student discount is for current students only (defined as those who have taken at least 6 credit hours of courses in the past semester). Graduated students do not qualify.
  2. There is an extra one-time $15 application fee for first-time registration.

Source: IMA

Relevant Articles

Students can also apply to be in the IMA Accounting Honor Society (IAHS). Benefits include a certificate of achievement, graduation chord, digital badge through LinkedIn, and a subscription to the IAHS e-newsletter. Students must be a junior-or-above accounting, finance or MSIS major and must have completed a minimum of three accounting courses (including principles courses). Students must have an overall and accounting GPA of 3.0 and must provide proof of eligibility via an official transcript. Students can apply here.

Please contact Professor Sarah Johnson at sarah.johnson11@okstate.edu with any questions!

Scholarship Application