Top 10 Most Asked US CMA Questions on Quora

Students and professionals looking forward to a career in accounting take up professional courses such as the US CMA. The US Bureau of Labor Statistics forecasts the employment of Accountants to grow 6% from 2021 to 2031, creating around 136,400 yearly job openings and making this a ripe opportunity for aspiring Accountants.

Quora is one of the leading online platforms where people ask questions on different topics and connect with people who offer answers and insights. Many Quora users have questions about US CMA, such as the course details and what to expect. In this blog, we have compiled a list of some of the most-asked questions on Quora and their answers.

Find out more about the US CMA scope in our blog, What is CMA? Course Details, Duration, Syllabus, Fees, and Eligibility.

Most Asked Questions on US CMA

The list below shows the top 10 most-asked questions and answers about US CMA on Quora. 

1. How hard is it to self-study for CMA exams?

Several US CMA aspirants opt for self-study each year. They have books and online resources at their disposal. But there are pros and cons of self-studying for CMA exams.

Self-study allows flexibility, and you can retain lessons better than guided study. The downsides of self-study include not getting professional support and having to study for longer periods.

You can either do self-study or enrol in one of the US CMA courses online, which can guide you on the right track.

Check out our blog, Guide to Become A CMA in 2024, for more information on becoming a CMA.

2. Does CMA have a better scope in India or abroad?

Since the US CMA is a globally recognised certification, you can work in India or outside. While a CMA can get a decent salary package in India, the opportunities are better abroad. The USA and Middle Eastern countries offer lucrative job roles to CMAs as it is one of the top professional qualifications in accounting.

3. What salary can a fresher expect after doing CMA?

Freshers must consider some key factors regarding US CMA salaries in India, such as job profile, experience, the hiring company and the job location. 

The table below shows a few typical US CMA jobs and their respective salaries.

The other factor for a fresher is the location. The salary differs in various cities in India and also according to the country. The USA offers the highest salary for a CMA, while Canada is a close second. The cost of living is also higher in foreign countries, which candidates must remember when applying for jobs.

Another important factor affecting freshers is the firm they choose to work in. While SMEs offer some great packages to employees, the pay is significantly higher in corporate firms.

Learn more about the salary of a CMA from our blog CMA Salary: How Much Do Certified Management Accountants Make?

4. How much does it cost for CMA?

The cost for CMA depends on whether you are a professional or a student. As a student, you have to pay less than a professional. Follow the table below for a breakdown of the US CMA registration fees. 

You must additionally pay course fees if you enrol in an online US CMA course.

5. What books are helpful for the US CMA exam?

Several books are available for candidates willing to ace the US CMA exam. Here’s a list of the top books for the US CMA exam:

• Hock US CMA Study Material – One of the most sought-after learning resources among CMA aspirants, this is a relatively inexpensive US CMA book.
• Surgent US CMA Review System – This book helps students identify weak areas and prepares them with important concepts for the US CMA exam.
• Wiley US CMA Review System – Self-preparing aspirants mostly prefer this book. This is perfect for beginners and comes with a study planner.
• Gleim USA CMA Study Material – This is the most popular US CMA book with videos, mock tests and digital flashcards. 

6. Can I do CMA after grade 12?

Yes, you can pursue US CMA after your 12th examination. But there are other requirements that you must fulfil to obtain the final certification from the Institute of Management Accountants.

7. What are the benefits of doing CMA?

There are several advantages to pursuing the US CMA course, such as:

• You can work abroad in nations such as the USA, Canada, New Zealand and Australia.
• Certified Management Accountants have high salary packages with an average base salary of Rs. 8 LPA.
• You can get jobs in big corporate firms such as KPMG, PwC, Amazon and Apple.
• The course takes a maximum of one year to complete. 

8. What is the structure of the US CMA exam?

The US CMA exam consists of 2 parts: Part 1 and Part 2. Both parts are four hours each, and includes two essay-type questions and 100 MCQs. You get three hours to complete the Multiple Choice Questions and 1 hour for the essay-type questions. The ratio of MCQ to essay-type questions is 3:1.

Part 1 covers internal controls, cost management and external financial reporting decisions. Part 2 includes topics such as decision analysis, risk management and corporate finance.

Learn more about the US CMA exam structure from our blog: US CMA Paper Pattern and Exam Fees.

9. Can I complete the CMA syllabus in a month?

It is impossible to complete the US CMA syllabus in just a month as you need in-depth knowledge of the various topics covered in Part 1 and Part 2 of the exam. You must spend a minimum of 6 to 9 months to cover all the topics.

10. What are the eligibility criteria for US CMA?

You must pass your grade 12 exams and be eligible to sit for the CMA exams. But you must complete your graduation to get the final certification from IMA. You also require two years of work experience in any relevant field to obtain the US CMA certification.

Conclusion

The high demand for US CMA-certified candidates in accounting cannot be overlooked. There is much scope and professional growth for a Certified Management Accountant in India and internationally. With hefty pay packages and ample growth opportunities, the role is both challenging and a learning experience.

Zell Education offers the internationally recognised US CMA course for working professionals and students. You will get 100% placement assistance and learn the nitty-gritty of the accounting world from industry experts. Visit Zell Education for more details.

FAQs

Is CMA US very difficult?
The US CMA is quite a difficult exam to crack. But you can ace the exam with a proper study plan and constant dedication.

How can I pass CMA USA on the first attempt?
To pass US CMA on the first attempt, you must entirely devote yourself to the course for a year. Enrolling in an online course prepares you better and increases your chances of clearing the exam on your first attempt.

Is US CMA more difficult than the Indian CMA?
US CMA is significantly more challenging than CMA India. The benefits of US CMA over Indian CMA, such as shorter course duration and higher salary prospects, make it a better choice.

How many attempts are allowed in CMA USA?
There is no limit on the maximum attempts a candidate can take the US CMA exam. But note that you are more likely to be hired by a reputed firm if you can clear the exam on your first attempt.

Satyamedh Nandedkar, a seasoned finance professional, holds ACCA, CA, US CMA & CS credentials. With 10+ years of experience, he’s a master ACCA tutor, IFRS trainer, adept in global financial standards, and a trusted advisor in navigating complex financial landscapes.