Certified Management Accountant (CMA) is an accounting or finance specialist. CMAs work in the areas of financial planning, analysis, and management decision-making. Many accountants, auditors and financial analysts earn the CMA rank and designation to advance in their careers. CMA is one exam which comes in 2 CMA group level, CMA group1 and CMA group 2. Also this exam gives us the liberty to appear for either CMA single group at a time or both groups together from CMA group level.
Should one write CMA both groups or single group?
This is one question which often crosses the mind of aspirants. As the option is available, so is the confusion. Some people insist on appearing on CMA single group first and then other from CMA group level. While some recommend writing both together. People even have varied opinions in terms of CMA group1 and CMA group 2, that which one to go first and which one later. But the real answer to this confusion is that “it depends on your capacity of studying and understanding the context in our books if you can study for 6–7 hrs daily 3 months are enough to complete the full course twice.
There are people who have completed the course twice not just course also solved around 15 practice and old papers from different websites and yes they cleared both group easily with good score. General perception is that CMA group 2 is easier when compared to CMA group 1. If someone has experience in manufacturing, then perhaps CMA group 1 will be easier for him.
Preparation strategy and CMA pass percentage:
As per CMA rank holders and those who have contributed into CMA pass percentage for CMA group level 2, weekly study of 30 hours supplemented with online practice test with 80% efficiency will easily take someone home. Strategy is more and less same for CMA group level 1. Only change is that, in this CMA group level subjects are different and hence one needs to identify his strength and weakness. CMA group consists of CMA group level 1 of the CMA exam consists of financial reporting, planning, performance and control, and CMA group level 2 covers financial decision making.
CMA group level
Rank is designated only if you pass both the CMA group level, while CMA pass percentage is declared individually for each CMA single group. In 2014, the CMA pass percentage for CMA group level 1 was 35%, while 49% passed Part Two. For 2015, the CMA pass percentage for part 1 was 36%. Though only a 1% increase, seeing the trend rise is never a bad thing. As for CMA group level 2, 55% of candidates passed their exam, up 6% from the previous year.
The key to secure a CMA rank is to set a goal then your endeavor should be to score more than 75% in both the MCQ and the Essay section. Working out the permutation and combination during the exam will not just be futile exercise, but also time consuming and may ultimately affect the quality of your answers.
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