Taking the CMA Exam and getting the certification can be a big investment! Let’s look at how much CMA exam fees you should expect to pour in for this big project. Please note that the amount is denoted in US dollars.
Quick Walkthrough on CMA Exam Fees in Video Format
I am responding to requests from readers 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 $75 to $225 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 $75 to $240.
3. Examination Fee
Update: the exam registration fee has been increased from $380 to $395 for regular members, and $190 to $296.25 for student members effective July 1, 2014.
The registration fee of the exam is
$395 per part, which means you’ll have to pay $790 altogether. To save $100 you can choose to take the 2 parts at the same time within the same testing window. There is also a discount of student candidates at $296.25 per part. A member can enjoy the student discount for up to 6 years.
Here is an extract from my video for your reference:
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 full blown coaching from their home countries. I generally recommend something in between — self-study review courses, which offers one of the best products, 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, then this cost is minimal. But there are candidates who need to travel far to the 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 membership fee is an annual payment.
For Your Reference
Here is an membership application form that specifies the fees for each category.
Note From Stephanie
The CMA exam fees is expensive anyway you look at it, but first, it is much more affordable than 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.
- To see some tangible benefits, you can check out the CMA salary survey here.
- For creative ways to ask your employers to pay for your CMA program, click here.
- You can also check out the fees as listed in the IMA website here.
Can I Be More Helpful?
For more information on the CMA exam as well as tips on study tactics, please consider signing up to my e-course which is completely free. You can learn about the mini e-course here or sign up directly below.