Earning the CMA certification can be a big investment! Let’s analyze the CMA exam fees that you must pay to complete this process.
All amounts are in US dollars.
Here is my response to readers’ requests to walk through the different layers of fees. I hope the following video serves the purpose.
Here is the text format for those who prefer to see the information in writing.
In order to start the CMA journey, you must pay three fees:
The IMA membership is an annual fee ranging from $39 to $245 depending on whether you are a student, an academic, or a professional member.
The entrance fee is a one-off fee that allows you to take part in the CMA program, which is the route to becoming a CMA in the US. The fee ranges from $188 to $250.
After the price increase in July 2015, the registration fee for the exam is now
$415 per part, which means you’ll have to pay $830 altogether.
There is also a discount of student and academic candidates that lowers the price to
$311 per part. A student member can enjoy the discount for up to 6 years as long as the candidate continues to take at least 6 credit hours per semester.
|1. IMA Membership ||$39||$135|
|2. CMA Entrance||$188||$188||$250|
|3. Exam Registration|
1. The student discount is for current students only (defined as those who have taken at least 6 credit hours of courses in the past semester). Graduated students do not qualify.
2. There is an extra one-time $15 application fee for first-time registration.
Study materials do not come with the CMA program. So, your CMA exam preparation options include anything from free secondhand notes to expensive coaching classes. I generally recommend something in between — self-study review courses, which offer some of the best products from nationally renowned instructors, the flexibility of studying at home, and generally lower prices. You can actually save hundreds on your course by checking out my CMA discounts and promo codes.
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 to a faraway city or even another country to sit for the exam. If you are in this situation, remember to take this cost into account.
Please note that the IMA membership is mandatory, and therefore, the membership fee is an annual payment.
There are also annual CPE requirements, so you may need to pay for courses to fulfill those requirements.
The cost of the CMA exam falls somewhere between the costs of the CIA and CPA exams. It’s not too bad when compared to the CFA exam:
|Exam Fees Only||Exam Fee + Review Course
The CMA exam fees are expensive any way you look at it. However, you must remember first, that the CMA is more affordable than other qualifications like the CPA Exam; and second, if you are pursuing a professional career in accounting and financial management, the certification will benefit you for a lifetime.
To learn how to study and pass the CMA exam in the most efficient manner, check out my e-course, which is completely FREE. You can learn about the e-course here or sign up directly below.
Join us if you want to get tips on how to plan,
study and pass your CMA exam on your first attempt!
I am the author of How to Pass The CPA Exam (published by Wiley) and the publisher of this and several accounting professional exam prep sites.
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