How many parts is the CMA exam?

Two parts: Financial Planning, Performance, and Analytics; and Strategic Financial Management.

What is the format of each CMA part?

Each part is four hours with 100 MCQs plus two advanced items. Most English-language regions use case-based questions from the September/October 2026 window, while Japan, Mainland China, and Taiwan continue with essays. Confirm the IMA handbook for your booked sitting.

Is the CMA a substitute for the CPA?

No. CMA targets management accounting and strategic finance. CPA is the US public accounting licence path.

Does MiloPrep cover both CMA parts?

Yes. The all-access plan includes Part 1 and Part 2 practice.

Where do these CMA facts come from?

From IMA CMA exam materials linked in the official source callout. CBQ and essay delivery depends on window and locale, so re-check the handbook for the sitting you booked.

How many sittings does the CMA exam include?

CMA is structured as 2 parts. On this site we track 2 sittings: Part 1 - Financial Planning, Performance, and Analytics, Part 2 - Strategic Financial Management. Confirm current windows on Institute of Management Accountants pages.

CMA guide

90-day CMA study plan

A sample calendar skeleton — not an official timetable. Stretch or compress weeks using your hours-per-week and diagnostic scores. Part 1 focuses on planning, performance, cost, controls, and analytics. Use MiloPrep tools to plan hours for CMA alongside practice in the app.

Start studying

Start your CMA practice

MiloPrep will cover every CMA sitting under one subscription.

Horizon

90 days

Sittings in plan

Weekly hours

You choose

Core loop

Diagnose → drill → timed

Who this fits

Fits you if

FP&A, corporate finance, and management accounting professionals who want a programme aimed at internal decision support rather than public audit.

Skip if

Candidates who need a CPA licence for attest work, or who want investment-management charters (CFA/CAIA) as their primary path.

Six phases

Step 1
Days 1–15 — Map and baseline
Skim every CMA content outline and take a short diagnostic per sitting you will attempt first. Log weak areas by topic weight, not by chapter title. Confirm windows on Institute of Management Accountants.
Step 2
Days 16–45 — Heavy practice
Do not save advanced items for the final week. Use technology-enhanced CBQ tasks or written essay responses according to your booked window and locale. Retest errors within 72 hours so the loop is closed before you move on.
Step 3
Days 46–60 — Second sitting prep or deepen
If you are sequencing multiple sittings, begin Part 2 - Strategic Financial Management weights while keeping a light maintenance set on Part 1 - Financial Planning, Performance, and Analytics.
Step 4
Days 61–75 — Timed blocks
Relevant cost, CVP, and pricing scenarios are a large Part 2 weight. Treat them as a daily block. Protect sleep and review only missed patterns.
Step 5
Days 76–85 — Peak mocks
Run two continuous practices near the next sitting length. Compare misses to the published weight table and cut low-yield rabbit holes.
Step 6
Days 86–90 — Taper
Light review of high-weight domains and ethics/standards where relevant. Do not open brand-new topic trees in the final 48 hours.

CMA study-week checklist

Open the CMA hub and mark which sittings you will book first.
Spend at least one block on Part 1 - Financial Planning, Performance, and Analytics high-weight topics.
Run one mixed set, then log every stem you missed with the correct rule.
Schedule one timed block near published sitting length this week.
Revisit one troubleshooting symptom from the hub and apply the next step.

Pro tip

Variance storytelling: Compute the variance, then connect it to the operational cause supported by the stem. The decision logic matters in both CBQ tasks and essay responses.

Tip 2

Relevant-cost framing: List sunk, avoidable, and opportunity costs before you calculate. Wrong framing beats wrong arithmetic as a failure mode.

Tip 3

If mcq strong, advanced-item performance weak, Use a format-specific checklist for the CBQ tasks or essay responses in your booked sitting.

Tip 4

If part 2 decision analysis feels endless, Drill the top decision patterns daily for two weeks, then reintroduce rarer methods.

Without structured practiceWith MiloPrep-style loops

Read chapters end-to-end with no weight mapBudget weeks to published CMA content-area ranges

Untimed question dumps until exhaustionShort diagnostics → mixed drills → timed sitting blocks

Ignore format (sims / cases / item sets)Separate format drills that match each sitting

Repeat the same miss with no error logLog stem mistakes and retest within 72 hours

Approach	Best for	Watch-out
Part-by-part sprint	Candidates sitting one CMA part soon	Leaving neighbouring topics cold
Weight-first calendar	Working professionals with limited hours	Skipping format practice
Full mock weeks	Final 3–4 weeks before a sitting	Using mocks before a baseline exists

Sitting checklist

Part	Focus reminder
Part 1 - Financial Planning, Performance, and Analytics	Planning, budgeting, cost, performance, controls, and analytics. Four-hour sitting with multiple-choice followed by CBQs or essay scenarios
Part 2 - Strategic Financial Management	Strategic finance: statement analysis, corporate finance, decision analysis, risk, investment decisions, and ethics.

Confirm numbers on official pages

Each part retains 100 MCQs and two advanced scenarios, but the scenario format depends on window and locale. Most English-language regions move to case-based questions with the September/October 2026 window. Japan, Mainland China, and Taiwan continue with essays. Candidates must confirm the handbook for their booked sitting. Weights below are the published content-specification ranges for each part.

How we review structure facts

MiloPrep cites awarding-body materials for CMA. Fees and pass rates are excluded when they move too often to state as facts.

Practice access

Get the CMA practice library

Mapped practice across every CMA sitting
Weak-area targeting instead of random question dumps
One expanding study system across professional exams

Create your account to start practicing.

Next steps

CMA hub

Overview of Certified Management Accountant.

Open hub

Part 1 - Financial Planning, Performance, and Analytics practice

Blueprint and sample practice for Part 1 - Financial Planning, Performance, and Analytics.

Practice

Part 2 - Strategic Financial Management practice

Blueprint and sample practice for Part 2 - Strategic Financial Management.

Practice

CMA FAQs

How many parts is the CMA exam?: Two parts: Financial Planning, Performance, and Analytics; and Strategic Financial Management.
What is the format of each CMA part?: Each part is four hours with 100 MCQs plus two advanced items. Most English-language regions use case-based questions from the September/October 2026 window, while Japan, Mainland China, and Taiwan continue with essays. Confirm the IMA handbook for your booked sitting.
Is the CMA a substitute for the CPA?: No. CMA targets management accounting and strategic finance. CPA is the US public accounting licence path.
Does MiloPrep cover both CMA parts?: Yes. The all-access plan includes Part 1 and Part 2 practice.
Where do these CMA facts come from?: From IMA CMA exam materials linked in the official source callout. CBQ and essay delivery depends on window and locale, so re-check the handbook for the sitting you booked.
How many sittings does the CMA exam include?: CMA is structured as 2 parts. On this site we track 2 sittings: Part 1 - Financial Planning, Performance, and Analytics, Part 2 - Strategic Financial Management. Confirm current windows on Institute of Management Accountants pages.
What question format should I expect on CMA Part 1 - Financial Planning, Performance, and Analytics?: Part 1 - Financial Planning, Performance, and Analytics uses 100 MCQs + 2 CBQs or essay scenarios by window and locale across about 100 scored items plus 2 simulations or cases, with roughly 240 minutes of content time. Always re-check Institute of Management Accountants before you book.