CMA Part 1 Exam 2026: Complete Guide
The Certified Management Accountant (CMA) certification is administered by the Institute of Management Accountants (IMA) and is recognized globally as the premier credential for management accounting and financial management professionals. Part 1 focuses on Financial Planning, Performance, and Analytics.
The CMA designation demonstrates expertise in financial planning, analysis, control, decision support, and professional ethics—skills essential for strategic business leadership.
Exam Format & Structure
| Component | Details |
|---|---|
| Multiple-Choice Questions | 100 MCQs (90 scored, 10 unscored pilot) |
| Essay Section | 2 essay scenarios |
| Total Time | 4 hours |
| MCQ Time | 3 hours |
| Essay Time | 1 hour |
| Passing Score | 360 (scaled, out of 500) |
| Pass Rate | ~34-40% |
The CMA Part 1 exam tests your knowledge of financial planning, performance management, and data analytics—critical skills for management accountants.
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CMA Part 1 Content Domains (6 Areas)
The CMA Part 1 exam covers 6 major content domains:
1. External Financial Reporting Decisions (15%)
- Financial statement preparation and analysis
- Revenue recognition principles (ASC 606)
- Leases and lease accounting (ASC 842)
- Long-term liabilities and equity transactions
- Financial statement disclosures
- Inventory valuation methods
- Fair value measurements
2. Planning, Budgeting, and Forecasting (20%)
- Strategic planning process
- Budget methodologies (static, flexible, zero-based)
- Annual profit plan development
- Cash flow forecasting
- Pro forma financial statements
- Sales and operational planning
- Capital budgeting fundamentals
3. Performance Management (20%)
- Cost and variance analysis
- Responsibility accounting
- Performance metrics and KPIs
- Balanced scorecard implementation
- Profitability analysis
- Transfer pricing strategies
- Organizational performance measurement
4. Cost Management (15%)
- Job order and process costing
- Activity-based costing (ABC)
- Overhead allocation methods
- Joint and by-product costing
- Spoilage, waste, and scrap accounting
- Life-cycle costing
- Target costing and value engineering
5. Internal Controls (15%)
- Governance, risk, and compliance (GRC)
- Internal control frameworks (COSO)
- Risk assessment methodologies
- Internal audit function
- Systems controls and security
- Fraud prevention and detection
- Sarbanes-Oxley requirements
6. Technology and Analytics (15%)
- Information systems management
- Data governance and management
- Business intelligence tools
- Data analytics for decision-making
- Financial systems integration
- Emerging technologies (AI, RPA, blockchain)
- Data visualization techniques
Free Practice Questions & Study Materials
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Each chapter includes:
- Detailed content explanations
- IMA-style practice questions
- Essay practice scenarios
- Key takeaways for quick review
CMA Eligibility Requirements
Education Requirement
- Bachelor's degree from an accredited college or university (any major)
- OR professional certification equivalent (CPA, CIA, ACCA, etc.)
- Official transcripts required for verification
Experience Requirement
- 2 consecutive years of professional experience in management accounting or financial management
- Experience can be completed before or within 7 years of passing both exam parts
- Positions may include: financial analyst, budget analyst, cost accountant, controller, CFO
IMA Membership
- IMA membership required to sit for the exam
- Student membership: $49/year
- Professional membership: $295/year (includes free access to IMA resources)
CMA Part 1 Exam Fees
| Fee Type | IMA Members | Non-Members |
|---|---|---|
| Entrance Fee | $280 | $280 |
| Exam Fee (Part 1) | $415 | $520 |
| Total (Part 1) | $695 | $800 |
The entrance fee is a one-time payment valid for all exam attempts within the 3-year examination period.
Study Timeline for CMA Part 1
| Week | Focus | Domain |
|---|---|---|
| 1-2 | External Financial Reporting | Domain 1 (15%) |
| 3-5 | Planning, Budgeting, Forecasting | Domain 2 (20%) |
| 6-8 | Performance Management | Domain 3 (20%) |
| 9-10 | Cost Management | Domain 4 (15%) |
| 11-12 | Internal Controls | Domain 5 (15%) |
| 13-14 | Technology & Analytics | Domain 6 (15%) |
| 15-16 | Practice Exams + Essay Practice | All Domains |
Recommended: 150-200 hours over 3-4 months
Essay Section Strategy
The CMA Part 1 essay section includes 2 scenarios that test your ability to apply knowledge to real-world situations.
Essay Scoring Breakdown
- Essays account for 25% of total exam score
- Each scenario has multiple sub-questions
- Partial credit is awarded for reasonable responses
- Writing skills count—clarity and organization matter
Essay Tips
- Read the scenario carefully before answering
- Structure your response with clear headings or bullet points
- Show your calculations and explain your reasoning
- Manage your time—allocate ~30 minutes per scenario
- Answer all parts of each question (partial credit helps)
- Use professional terminology to demonstrate competence
Common Essay Topics
- Budget variance analysis and recommendations
- Cost-volume-profit analysis for business decisions
- Internal control evaluation and improvements
- Performance measurement system design
- Investment and capital budgeting decisions
Test-Taking Strategies
For Multiple-Choice Questions
- Pace yourself—aim for 1.8 minutes per question
- Flag difficult questions and return to them later
- Read all answer choices before selecting
- Eliminate obviously wrong answers first
- Watch for qualifiers (always, never, except, not)
- Trust your first instinct unless you find a clear error
For Essay Questions
- Outline your answer before writing
- Address each requirement in the question
- Be concise but thorough—quality over quantity
- Include specific calculations where applicable
- Proofread if time permits
CMA Part 1 vs Part 2
| Aspect | Part 1 | Part 2 |
|---|---|---|
| Focus | Financial Planning, Performance & Analytics | Strategic Financial Management |
| MCQs | 100 (90 scored) | 100 (90 scored) |
| Essays | 2 scenarios | 2 scenarios |
| Time | 4 hours | 4 hours |
| Order | Can take in any order | Can take in any order |
You can take Part 1 and Part 2 in any order, and many candidates choose to focus on one part at a time.
Testing Windows and Registration
CMA Testing Windows (2026)
- January-February
- May-June
- September-October
Registration Process
- Join IMA as a member
- Pay the CMA entrance fee
- Register for Part 1 during your chosen testing window
- Schedule your exam appointment at a Prometric testing center
- Complete the exam within your testing window
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- All 6 content domains covered in detail
- MCQ and essay practice questions
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Official Resources
- IMA CMA Certification - Official CMA certification information
- CMA Exam Content Specification - Detailed exam topics
- Prometric CMA Testing - Schedule your exam
- IMA Learning Center - Additional study resources