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CMA Exam parts

Understand what CMA tests, choose your part, and find its study plan, topics, and practice.

2 parts

Two parts of management accounting and finance

Part 1 covers planning, performance, and analytics; Part 2 covers strategic financial management. Check the scenario format for your exam window, language, and location before choosing case-based or essay practice.

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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 for the applicable window and locale.

Testing time
240 minutes
Question format
100 MCQs + 2 CBQs or essay scenarios by window and locale

What is tested

  • External Financial Reporting Decisions
  • Planning, Budgeting, and Forecasting
  • Performance Management
  • Cost Management
  • Internal Controls
  • Technology and Analytics
Full exam guideStudy planTry 5 free MCQsFree practice PDF

Part 2 - Strategic Financial Management

Strategic finance: statement analysis, corporate finance, decision analysis, risk, investment decisions, and ethics.

Testing time
240 minutes
Question format
100 MCQs + 2 CBQs or essay scenarios by window and locale

What is tested

  • Financial Statement Analysis
  • Corporate Finance
  • Business Decision Analysis
  • Enterprise Risk Management
  • Capital Investment Decisions
  • Professional Ethics
Full exam guideStudy planTry 5 free MCQsFree practice PDF

Testing time excludes check-in and additional scheduled breaks. The topic lists orient your preparation; use the full guide and official syllabus for weights, outcomes, and changes affecting your sitting.

IMA Japan Chapter: January 2027 CBQ announcementIMA - CMA case-based question transitionIMA - CMA Candidate Handbook

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