One of the most demanding and complex phases of becoming a Certified Management Accountant (CMA) is passing the CMA test. Due to the exam’s two parts, hundreds of questions, and lengthy duration, preparation is essential. Candidates for the CMA exam want to understand the complexity of the CMA test in addition to knowing the number of questions and the subject covered. They are curious about the difficulty of the CMA exam as they begin to know more about US CMA course details.
How hard is the US CMA exam?
The CMA exam is incredibly challenging and will push you to the edge of your knowledge. Less than half of test-takers will pass, according to the CMA’s 45 percent industry average pass rate for both sections. The CMA test is well known for being rigorous and challenging; therefore, you should study if you want to pass.
How difficult is the CMA exam then? If we look at it objectively, the CMA exam difficulty can be broken down into three ways-
- Curriculum: The breadth of the content covered is significantly less when compared to various other financial and accounting tests, such as the CPA and CFA. As you are aware, there are two components to the CMA exam. Internal controls, performance and cost management, planning, budgeting, and forecasting are all covered in Part 1’s discussion of financial accounting. The study of financial statements, corporate finance, decision-making, risk management, investment choices, and professional ethics are all included in the second section. If we compare the CMA exam curriculum with the CPA exam curriculum, you would see that the CPA exam is not only divided into 4 parts, but it also includes taxation, auditing, and business law.
- Pass rates: According to pass rate statistics, few hard-working individuals are fortunate enough to pass the CMA exam. Only 35% for Part 1 and 49% for Part 2 are included in the few. These statistics can, unsurprisingly, make taking this exam even more intimidating. If you dig a little deeper into these figures, you can see how the lowered qualifying standards might change this. To write the CMA exam, all you need is a bachelor’s degree, which can be earned in any discipline and in any nation. This means that you do not need to have any prior knowledge of accounting or finance, which may be a contributing factor to the low pass rates.
- Exam Composition: The CMA exam only has two parts, but the CPA exam has four, as I have said. Since there are just two sections, many individuals believe that the amount of information covered in each portion adds to the difficulty. It implies that in order to increase your chances of passing, you must study more material for each segment. There are a number of ways you might approach this, such as adhering to a precise study plan to make sure you cover each topic with the required amount of detail and time, even though it may very well make the CMA test more challenging.
So, if you are planning to take the US CMA exam and want to take up a course, then you are at the right place. Take US CMA online classes from AKPIS Professionals and ace your exam!