To become a Certified Management Accountant, one cannot escape Math. Accountants have to play with numbers all day long and hence, it becomes imperative to study mathematics and statistics well during the initial stages. CMA Foundation FBMS paper aims to test a student’s ability to understand basic concepts of mathematics and statistics and identify the logic behind the calculations which go into solving real-life problems.
The candidates are expected to apply basic concepts of math and stats as an effective quantitative tool and demonstrate the relevance and use of statistical tools for analysis and forecasting.
To help you prepare for CMA Foundation FBMS – Fundamentals of Business Mathematics & Statistics, we bring to you some quick tips and tricks which will help you enhance your preparation for this examination.
Here’s what you will read next:
- Fundamentals of Business Mathematics & Statistics (FBMS) – Syllabus
- How to study for CMA Foundation FBMS
- How to score well in CMA Foundation FBMS
- Online Resources
Fundamentals of Business Mathematics & Statistics (FBMS) – Syllabus
Here’s a quick summary of the FBMS syllabus that you need to follow while preparing for this subject:
Section A: Fundamentals of Business Mathematics
Section B: Fundamentals of Business Statistics
Statistical representation of data
Measures of Central tendency & Dispersion
Correlation and Regression
Suggested marks distribution for examination:
Total of 100 marks 3 hours
Short questions & Practical Problems
Objective questions (60 marks) 1 marks each question
How to study CMA Foundation FBMS
- Before you begin to prepare, read and understand the exam syllabus and pattern and chart out a timetable for yourself accordingly.
- To strengthen your concepts, refer to NCERT for Business Mathematics. It will help you with basic concepts.
- Every chapter will have some key formulae and concepts. Remember them and make notes in your own handwriting. This will help in increasing your retention power and your notebook will serve as a quick revision guide.
- There will be a few questions that will appear to be tough even after multiple trials. Make a list of such questions and identify the root cause of your problem. Once you solve these, you will be able to solve other questions with ease.
- You are only allowed a simple six calculation calculator in the examination hall. So learn and practice to use this calculator efficiently.
- Topics in statistics are inter-related. So, avoid skipping any topic.
- Go through the study material provided by ICMAI and understand the step-by-step working of each problem
- Since this is a practical subject, you will require a lot of practice. Do not just read the sums. Solve them and understand the process.
- Attempt mock papers in the real examination-like environment. Analyze your performance and revise accordingly.
- Do not study this subject the whole day. You need some break, so mix and match while creating your timetable in a way that it does not overburden you.
How to score well in CMA Foundation FBMS
- Once you get the question paper, go through all the questions. Allot time to questions based on the marks that they carry. Keep some time for revision.
- For all the subjects, attempt multiple choice questions first for this paper as well.
- In subjective optional questions, always answer the question you are most confident about a first.
- For practical subjects like these, while you do not need to have extraordinary presentation skills, basic hygiene is a must. Your answer sheet should be such that it appeals to the examiner. Just follow these:
- Have working notes.
- Start every question from a new page.
- Highlight your answer.
- Draw Margins
- Do not forget to write the correct question numbers.
- Make all charts, diagrams, and illustrations cleanly and label them properly. Try to attempt all the questions. There is no negative marking.
- Try to attempt all the questions. There is no negative marking.
Online resources to prepare for CMA Foundation FBMS
- Syllabus and Study Notes: http://icmai.in/upload/Students/Syllabus2016/Foundation/Paper-4.pdf
- Mock Test Paper Questions
- Mock Test Paper Answers
- Postal Test Papers:
- Guidelines for Students: https://icmai.in/studentswebsite/exam_procedure.php
- Question Paper December 2018: http://icmai.in/upload/QuestionPaper/syllabus2016/Dec18/Paper4.pdf
- Important Due Date: http://icmai.in/upload/Students/Important-Due-Dates.pdf
You can watch a few demo lectures by SuperProfs for CMA and see if you would want to consider subscribing to our video series for a better shot at clearing the CMA examination.
Also Read :
Download the App
Watch Videos Lecture Offline