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Study Using Old CMA Review Materials

Deepak is our latest blogger from the UAE. He writes every Thursday.CMA Study plan focus

After taking CMA Part 1 a few weeks ago, I have now initiated my studies for Part 2.

I have Gleim review materials bought in 2013. I have started studying using that. YES, I know that the material is outdated but what I found is that only 20% of the material seems to have changed overall.

Part 2 CMA Exam Changes

Section 2015 Version Previous Version
A Financial Statement Analysis Financial Statement Analysis
B Corporate Finance Corporate Finance
C Decision Analysis Decision Analysis and Risk Management
D Risk Management Investment Decisions
E Investment Decisions Professional Ethics
F Professional Ethics n/a

Additional coverage in Ethics (originally in Part 1) has been added to part 2. I am taking some risks to study based on old materials, but at present, I have left with no other options.

My Story

I registered myself with IMA in May 2013. According to their rules, we need to clear both parts and become a Certified Management Account in 3 years. Otherwise, our exam credits with IMA will be canceled and we need to re-register ourselves with IMA. That means we need to take both parts again to become CMA and all our efforts in passing any one part go in vain.

I don’t wanna see my efforts go to waste, and therefore I’ve decided to make up for it and take Part 2 in May 2016.

To increase my chance to clear Part 2, I need to acquire new material and give my attempt in May 2016. But acquiring new material will surely cost me $800 or more, which I won’t be able to afford due to my personal financial limitations. Nor do I want to acquire the same via other illegal means.

Thus, the best way out is to continue my studies from my current notes and try to gain as much knowledge as possible.

Definitely, it’s a gamble but I will take it.

Note from Stephanie

This is an interesting topic Deepak. I admire the fact that you stick with your ethical standard in not getting those illegal copies, but I also don’t have an easy solution for you.

Most of the changes are actually in Part 1; for Part 2, you might be okay to get a supplementary test prep. It should cost a lot less than a full-blown review course.

As you said, there is always a risk, but if you aim at higher accuracy on the topics on hand, you should be able to pull it off. I would aim to get 100% correct and review those you’ve done wrong previously. Work hard!

About the Author Deepak S

Hi, I am Deepak. I work in UAE as a Financial Analyst in the jewellery industry, looking to further enhance my knowledge with the CMA qualification.

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