Taking the CMA Exam and getting the certification can be a big investment! Let’s analyze the CMA exam fees expected for this big project.
All amount in US dollars.
Quick Walkthrough on CMA Exam Fees in Video Format
Here is my response on readers’ requests to walk you through the different layers of fee. I hope the following video will serve the purpose.
Here is the text format for those who prefer to read and digest the information in writing.
In order to start the CMA journey, you need to go through 3 levels of payment:
1. IMA Membership
The IMA membership is an annual fee ranging from $39 to $245 depending whether you are a student, a young professional or a standard member.
2. Entrance Fee
The entrance fee is an one-off fee that allows you to take part in the CMA program which is the route to become a CMA in the US. The fee ranges from $188 to $250.
3. Examination Fee
After the price increase in July 2015, the registration fee of the exam is now
$415 per part, which means you’ll have to pay $830 altogether.
There is also a discount of student candidates at
$311 per part. A member can enjoy the student discount for up to 6 years as long as the candidate continues to take at least 6 credit hours per semester.
Cost Summary in 2017
|Student || Young Professional ||Regular|
|1. IMA membership ||$39|| |
|2. CMA entrance fee||$188||$250||$250|
|3. Exam Registration|
1. Student discount is for current student only (defined as those who have taken at least 6 credit hours of courses in the past semester). Graduated students do not qualify.
2. Young professional discount is available to those currently living in the US, Canada and Mexico only.
3. There is an extra one-off $15 application fee for first-time registration.
The Hidden Costs
1. CMA Review Courses
The study materials do not come with the CMA program. Candidates prepare the exam based on free second-hand notes to expensive coaching classes from their home countries. I generally recommend something in between — self-study review courses, which offers one of the best products from nationally renowned instructors, flexibility of studying at home and generally lower price.
2. Travel and Accommodation
If you are lucky to have the testing center close to your home, this cost is minimal. But there are candidates who need to travel far to a nearby city, or even to another country for the exam. If you are in this situation, remember to take this cost into account.
3. Annual Payment
Please note that the IMA membership is mandatory and therefore the membership fee is an annual payment.
How is the CMA Exam Cost Compared to Other Professional Exams?
The level is somewhere between CIA and CPA exam. It’s pretty okay when compared to the CFA exam:
|Exam fees only||Exam fee + review course|
Is the CMA Worth It Then?
The CMA exam fees is expensive anyway you look at it, but first, it is more affordable than other qualifications such as the CPA exam; and second, if you are pursuing a professional career in accounting and financial management, the certification is going to benefit you for a life time.
For Your Further Reading
|Analyze CMA vs|
|Revisit benefits |
of CMA title
|Start your CMA|
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