The Certified Management Accountant (CMA) exam is a challenging and comprehensive assessment of a candidate’s management accounting knowledge and skills. You must be familiar with the passing score of the CMA exam to ensure that you are adequately prepared for the exam.
The CMA pass mark is 72%. To pass the exam, a candidate must score at least 360 out of 500 across the essays and multiple-choice questions. The CMA pass marks are the same globally, irrespective of the country where the exam is taken.
How is the CMA exam graded? And what counts as a CMA passing score?
Let’s have a look.
CMA Exam Structure – An Overview
The CMA exam structure is comprehensive and designed to test a candidate’s proficiency in management accounting. It is divided into two parts:
- Part 1: Financial Reporting, Planning, Performance, and Control
- Part 2: Financial Decision Making.
Each part comprises multiple-choice questions and essay sections. The multiple-choice section consists of 100 questions, while the essay section includes two scenarios, each with a descriptive answer.
Candidates are given 3 hours to complete the multiple-choice section and 1 hour for the essay section.
US CMA Grading System
The CMA exam treats all sections equally. However, remember that different exam versions vary in difficulty. Therefore, the exam uses a raw scoring system.
In simpler terms, if you get a more difficult version of the test, you may need 65% to pass. But you may need more than 72% if you get an easier version. What matters most is your final CMA pass marks, not the percentage.
Here’s what you should know:
- There are no penalties for incorrect answers.
- You need at least 50% on the multiple-choice questions for the essays to be graded.
- Your overall score is a combination of the two sections.
Let’s break down how the CMA score is calculated and how CMA pass marks are determined:
- 75% of your score comes from the multiple-choice questions.
- There are 90 graded multiple-choice questions out of 100. The remaining 10 are used to develop future tests and don’t affect your score. Your answers to the 90 questions impact 75% of your score.
- The other 25% of your score comes from the two essay sections.
CMA Score Analysis and Ranking System
After completing the CMA exam, candidates get a score report. The report evaluates their performance and provides their scaled score and a summary of strengths and weaknesses in each section. This report is a valuable resource for highlighting improvement areas of candidates planning on retaking the exam.
Candidates who fail to get passing marks on their first attempt can retake the exam after at least 30 days. A candidate can only attempt the exam a maximum of three times within a year. Failing three times requires a one-year wait before attempting the exam again.
US CMA Pass Rates Over the Years
According to IMA, the CMA pass percentage (January-February testing window, 2020) was 45% for both Paper 1 and Paper 2 worldwide. While this is a significant increase compared to the previous pass rates, the students still need to score the minimum passing score to get into the funnel.
While the CMA pass rates vary by geographic region, the US CMA pass marks remain the same regardless of the country where the exam is taken. The pass rate averages around 50% on parts 1 and 2.
Conclusion
The US CMA exam is a challenging but attainable test you can pass with thorough preparation and commitment. While taking a CMA course is not mandatory, it can give you the professional guidance you need to prepare for the exam. You can obtain good US CMA pass marks and earn the CMA designation with proper preparation and dedication.
The WallStreet School offers a premier US CMA preparatory program to help you achieve excellence in CMA certification. Whether you choose online classes or classroom bootcamp, our resources are designed to assist you in clearing the CMA on your first attempt.
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FAQs
- How hard is the CMA exam?
The CMA exam is considered to be a challenging exam, and it requires a significant amount of preparation and dedication to pass. It is essential to understand the material and practice the exam questions to be successful.
- What kinds of exam questions can I expect?
The CMA exam consists of multiple-choice questions, essay questions, and case studies. The multiple-choice questions are designed to test your knowledge of the material. In contrast, the essay questions and case studies test your ability to apply the knowledge to real-world scenarios.
- Do I have to take a CMA course to pass?
While taking a CMA course is not required to pass the CMA exam, it is highly recommended. A CMA course can provide you with the necessary knowledge, skills and professional training to be successful on the exam.
