How to Meet the CMA Exam Requirements؟
As the administrator of the Certified Management Accountant (CMA) certification, the Institute of Management Accountants (IMA) holds high standards for CMA candidates. And to enforce these standards, the IMA has established the Certified Management Accountant requirements (or CMA requirements), some of which also serve as the CMA exam requirements.
Compared to those of other professional accounting certifications (such as the CPA), the CMA requirements are fairly straightforward and simple. However, they do require time and effort to complete. Furthermore, you must finish some of the CMA qualifications before others. Therefore, you should learn about the CMA certification requirements and the CMA exam requirements before you start the process of pursuing the CMA.
To earn the CMA certification, you must fulfill these 7 CMA requirements in this order:
Hold active membership with the IMA
Pay the CMA entrance fee
Fulfill the education qualification
Pass both parts of the CMA exam
Fulfill the experience qualification
Comply with the IMA Statement of Ethical Professional Practice
Complete the annual CPE requirements
As you can see, some of these requirements are more involved than others. For example, paying the CMA entrance fee, and complying with the statement are pretty quick and easy steps.
However, meeting the education requirement, completing the experience requirement, and passing the CMA exam demand much more concentration and commitment. Therefore, many CMA candidates focus the most on the 3 requirements that start with an e: education, exam, and experience.
Addressing the CMA Requirements in Order
To properly satisfy each CMA requirement, you must address them in the right order.
1. Become an IMA member and pay the CMA fees
The very first step to earning the CMA is becoming an IMA member, which involves filling out a short application and paying a fee. The type of IMA membership you’ll hold and the price you’ll pay for it depends on your current professional status. Your IMA membership type and fee options are as follows:
Professional: $245
Academic: $135
Student: $39
The next step in the CMA certification process is paying the CMA entrance fee. You must pay this fee in order to enter the CMA program and take the CMA exam. And the price of this fee depends on your IMA membership type. Professional IMA members must pay $250, while Academic and Student members have to pay $188.
Once you enter the CMA program, you have 3 years from the date of entry to pass the CMA exam. If you don’t pass both CMA exam parts within 3 years, you will lose credit for any parts you passed, and you’ll have to pay the CMA entrance fee again.
The CMA Handbook provided by the IMA states that, along with access to the CMA exam, the CMA entrance fee also includes:
Access to the CMA Support Package beginning on the date of entry into the CMA program
Performance feedback reports
Review of educational and experience credentials
Final score report upon completion of the exams
Personalized, numbered certificate upon completion of all requirements
Employer notification of achievement if desired
Maintenance of a listing of all CMAs in good standing on the IMA website for employer verification of status
2. Meet the CMA exam requirements
The CMA exam requirements include:
Completing the education qualification
Passing the CMA exam
You can take the CMA exam before you complete the education requirement, as the IMA accepts student members and offers them discounts on CMA exam fees. However, you must submit verification of your education to the ICMA within 7 years of passing the CMA exam.
CMA Education Requirement
CMA candidates can satisfy the education requirement in 1 of 2 ways:
Earn a bachelor’s degree from an accredited college or university
You’ll find a partial list of accredited U.S. and international institutions here: http://univ.cc/world.php.
If you received your degree from a non-accredited institution, an independent agency must evaluate your education. You’ll find a list of such agencies at aice-eval.org or http://www.naces.org/members.htm.
If you can’t find your college or university on the accredited listing, you can contact the IMA at ima@imanet.org.
The IMA clarifies that verification of a bachelor’s degree means all transcripts should be mailed directly from your college or university to the address below.
If you cannot submit your transcripts, the Institute of Certified Management Accountants (ICMA) asks that you mail them a notarized copy.
Have a professional certification
The IMA has a list of approved professional certifications.
The IMA elucidates that verification of a professional certification means the approved certifying organization should mail a letter confirming that you are a qualified member directly to the address below.
All of your education verification must be submitted in English, and you must include your IMA member number. The address to which transcripts an