Free CMA Part 1 Exam Flashcards
Memorize 50 essential terms and definitions for the Certified Management Accountant (CMA) Part 1 Exam. See the term, recall the definition, then flip to check yourself.
Balance Sheet
A financial statement showing a company's assets, liabilities, and equity at a specific point in time. Assets must equal liabilities plus equity (the accounting equation). Used to assess financial position and liquidity.
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About These CMA Part 1 Flashcards
These 50 flashcards are designed to help you memorize key terms and definitions for the Certified Management Accountant (CMA) Part 1 Exam. Each card shows a term on the front and its definition on the back—the classic flashcard format for vocabulary memorization. Use these alongside our practice questions to build both recall and comprehension.
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Frequently Asked Questions
What is the CMA Part 1 exam pass rate?
The CMA Part 1 pass rate is approximately 40-45% according to the IMA. Part 1 historically has a lower pass rate than Part 2 (around 45-50%) due to its emphasis on complex topics like budgeting, forecasting, and cost management. An average of 4,000 CMA certifications are granted in the U.S. each year across both parts.
What score do you need to pass CMA Part 1?
You need a scaled score of 360 out of 500 to pass CMA Part 1. The exam is scored on a 0-500 scale, with scores adjusted for question difficulty across different exam versions. This isn't a simple 72%—the scaling process ensures fair comparison across testing windows.
How is the CMA Part 1 exam structured?
CMA Part 1 is 4 hours total: 3 hours for 100 multiple-choice questions (75% of score) and 1 hour for 2 essay scenarios with 10-12 written response questions (25% of score). Critical rule: you must score at least 50% on the MCQ section to have your essays graded. If you finish MCQs early, unused time transfers to essays.
How long should I study for CMA Part 1?
The IMA officially recommends 150-170 hours of study time for Part 1, completed over 10-13 weeks. Study at least 12 hours per week. Some exam prep experts suggest 240-300 hours for average learners. Factors affecting study time include your accounting background, work schedule, and familiarity with topics like budgeting and cost management.
How soon can you retake CMA Part 1 if you fail?
You cannot retake CMA Part 1 within the same testing window—you must wait for the next window. The CMA has three testing windows per year: January-February, May-June, and September-October. There's no limit on total attempts within your 3-year eligibility period, but each retake requires paying the exam fee again ($460 for professionals, $345 for students).
What happens if I don't pass both CMA parts within 3 years?
If you don't complete both CMA parts within 3 years of paying the entrance fee, both passed and failed parts expire. You must restart the entire program with a new entrance fee and retake both parts—even if you previously passed one. The 3-year clock starts when you pay the CMA entrance fee, not when you take your first exam.