As an IMA training expert, I understand the challenges that come with taking the CMA-FINANCIAL-PLANNING-PERFORMANCE-AND-ANALYTICS exam. The CMA-FINANCIAL-PLANNING-PERFORMANCE-AND-ANALYTICS exam is one of the two parts of the Certified Management Accountant (CMA) certification program. This exam focuses on financial planning, performance, and analytics. Passing this exam requires in-depth knowledge of financial planning and analysis, cost management, and performance measurement techniques. In this article, I will provide you with an overview of the exam, its objectives, the exam details, and the resources you can use to prepare for the exam.
Exam Objectives:
The CMA-FINANCIAL-PLANNING-PERFORMANCE-AND-ANALYTICS exam measures a candidate's knowledge in the following areas:
- External Financial Reporting Decisions (15%)
- Planning, Budgeting, and Forecasting (30%)
- Performance Management (20%)
- Cost Management (20%)
- Internal Controls (15%)
The exam aims to test the candidate's ability to apply financial planning and analysis concepts, perform cost management techniques, evaluate and manage financial risks, and analyze performance data.
Exam Details:
The CMA-FINANCIAL-PLANNING-PERFORMANCE-AND-ANALYTICS exam is a computer-based test consisting of 100 multiple-choice questions and two essay questions. Candidates have four hours to complete the exam. The exam is delivered in a proctored environment at a Prometric testing center. The cost of the exam varies by location and ranges from $415 to $500 for IMA members and $615 to $700 for non-members. To pass the exam, a candidate must achieve a score of 360 or higher on a scale of 0 to 500.
The CMA-FINANCIAL-PLANNING-PERFORMANCE-AND-ANALYTICS exam is recommended for professionals who work in financial planning and analysis, corporate finance, cost accounting, and performance management. To be eligible for the CMA-FINANCIAL-PLANNING-PERFORMANCE-AND-ANALYTICS exam, candidates must have a bachelor's degree from an accredited institution and two years of relevant work experience. Alternatively, candidates can complete the exam requirements within seven years of graduating from an accredited institution.
Related Books:
There are several books that can help candidates prepare for the CMA-FINANCIAL-PLANNING-PERFORMANCE-AND-ANALYTICS exam. Some of the recommended books are:
- CMA Part 1 - Financial Reporting, Planning, Performance, and Control Exam Flashcard Study System: CMA Test Practice Questions & Review for the Certified Management Accountant Exam by CMA Exam Secrets Test Prep Team
- Wiley CMAexcel Learning System Exam Review 2022: Part 1, Financial Planning, Performance, and Analytics by IMA
- CMA Part 1 - Financial Planning, Performance, and Analytics Exam Secrets Study Guide: CMA Test Review for the Certified Management Accountant Exam by CMA Exam Secrets Test Prep Team
- CMA Exam Preparation: Medical Assistant Exam Prep and Practice Test Questions for the Certified Medical Assistant Exam by Medical Assistant Exam Prep Team
These books provide comprehensive coverage of the exam topics, practice questions, and exam strategies that can
help candidates prepare for the CMA-FINANCIAL-PLANNING-PERFORMANCE-AND-ANALYTICS exam. Additionally, there are online courses, review courses, and practice exams available that can further aid in preparation for the exam. These resources can help candidates gain a better understanding of the exam objectives, develop study strategies, and improve their chances of passing the exam.
In conclusion, passing the CMA-FINANCIAL-PLANNING-PERFORMANCE-AND-ANALYTICS exam requires dedication, hard work, and a thorough understanding of financial planning and analysis concepts, cost management techniques, and performance measurement tools. Candidates should review the exam objectives, understand the exam details, and use the recommended books and other resources to prepare for the exam. By following a structured study plan and dedicating enough time and effort, candidates can increase their chances of passing the exam and earning the prestigious CMA certification.