How to Apply for US CMA Examination

CMA, or the Certified Management Accountant, is a worldwide recognized credential by IMA (Institute for Management Accountants), USA. This course is specially designed for management accounting and is recognized in over 170 countries. Most employers and recruiters seek candidates with a US CMA certification.

This course is an advanced platform for financial professionals and accountants. It covers business, accounting, analytics, and finance and makes the candidate master the 12 core skills needed to be an accounting and finance expert. In this article, you will learn everything related to the CMA exam.

Steps to Apply for US CMA Examination

The US CMA examination is one of the most prestigious credentials a professional can achieve in the finance world. Therefore, the candidate must know how to apply for the course and, most importantly, the examination. After the examination, they will receive their certificate of course completion. Listed below are the steps for US CMA registration and other details:

Pay US CMA Membership Fees

If you have decided to appear for the exam, you must join IMA as a professional member. USA and Canadian residents below 33 should join as young professional members. A student can apply for a student discount for every student worldwide. Follow the below steps to become a member:

• Select your home country.
• Choose the membership category and click – Join today.
• Click on Join for confirmation and continue with the application.
• Fill out the application form and pay the US CMA membership fees of USD 295.
• Post payment, a confirmation email will be shared with the enrollment number.

Join the US CMA Programs

Your US CMA exam registration process will not start by just becoming a member; you must enroll in the US CMA program. This program should only be joined if the candidate is ready for the exam. Once the candidate enrolls and pays their US CMA exam fees (entrance fee), they must take the exam within 12 months and finish the course in three years.

The membership fee for professional members is USD 240, and once paid, they will receive a confirmation email for successful program registration. The email will also have details on accessing the US exam support package.

Register for the Examination

After enrolling, the candidate has to follow the CMA exam registration process, which consists of two parts.

Part 1 – financial planning, performance and control

Part 2 – financial decision making

There is no sequence, and the candidate can choose to appear for any part depending on their comfort level. They can even apply for both parts in the same testing window. The registration process is easy and can be done online or via phone by giving credit card information. It can also be done by sending the registration email through fax or mail.

Pay US CMA Exam Fees

Once the registration process is completed, the candidates must pay the exam fees. The US CMA exam fee is USD 495 per part. So, if the candidate wants to appear for both, they must pay USD 495 separately for both parts.  

Locate the Test Center and Fix the Schedule

Candidates must schedule their exam after completing their registration and paying the fee. They can choose a center in any of the authorized centers worldwide. The centers are open on all weekends in January, February, May, June, September and October. Once the center is fixed, every US CMA exam details will be shared with the candidate via email.

Conclusion

Completing the CMA course can be very valuable for the candidate, and it can directly benefit their career and open up several growth opportunities. Therefore, checking for the US CMA exam requirements and other details is advisable before starting the registration process. Once registered, a candidate will have a limited time to prepare and apply for the exam. This course can become the first step towards an exciting career in the financial world.

FAQs on Applying for US CMA Examination:

Is US CMA difficult to pass?

The US CMA exam has a passing rate of 45%, which is higher than the Indian exam of 15-20%. It is divided into two portions, including essays and multiple-choice questions, to assess your understanding of financial concepts and your ability to apply them. It covers a lot of ground in finance, yet passing the test is not too difficult. Concentrated and committed study sessions can significantly increase your exam chances.

How many times US CMA exam is conducted in a year?

The CMA exam is available thrice a year and has a two-month testing window. The same are as below:

• January and February
• May and June
• September and October

Is CMA US equal to an MBA?

No, MBA and CMA are two different courses. CMA is a certification for accounting and finance, and MBA is a broader degree in business management. CMA certification focuses on decision-making and financial analysis, and MBA, on the other hand, covers strategy, marketing, and leadership.  

Is a CMA or CFA better?

The CFA program focuses on investment banking, wealth management, and capital markets. CMAs specialize in management consulting roles, which include project consulting, pricing consulting, auditing, and tax advice, among other things. The two have distinct syllabus; hence, which is better depends on the candidate’s interest and requirements.

Partham Barot is an ACCA-certified professional. showcasing his expertise in finance and accountancy. he’s revolutionising education by focusing on practical, real-world skills. Partham’s achievements underscore his commitment to elevating educational standards and empowering the next generation of professionals.