ICMA Releases Pass Rates for New CMA Exam Curriculum; Offers Flexibility in 2020 Testing Schedule
Stern Strategy Group
Montvale, N.J., May 21, 2020 – The Institute of Certified Management Accountants (ICMA®), the certification division of IMA® (Institute of Management Accountants), announced today the pass rates for the first testing window (January-February 2020) of the revised CMA® (Certified Management Accountant) exam content specification outline, as well as a change in the English language testing window schedule for 2020.
Of a pool of more than 5,000 Part 1 and Part 2 English language exam parts taken during the first testing window under the new curriculum, ICMA announced a worldwide pass rate of 45 percent on both Part 1 and Part 2. For Part 1, this represents an increase from the 35 percent pass rate that candidates have been averaging over the last several years and is in line with the average of 45 percent for Part 2. In January, ICMA introduced the revised two-part CMA 2020 curriculum. The most significant change was in Part 1, where ICMA added new content covering technology and analytics. The Part 2 changes included greater emphasis on ethics and strategic decision-making.
“Results from the first testing window show that CMA candidates are embracing the new exam material and are well prepared for taking the exam,” said ICMA Senior Vice President Dennis Whitney, CMA. “Although you cannot project these results to the future testing windows, it is encouraging to see that candidates have studied hard and review course publishers and providers have prepared our candidates well. Updates to the CMA exam reflect the findings of a periodic Job Analysis Study in which content is matched against the changing on-the-job skills needed by management accountants. Given the dramatic circumstances in the global economy and job markets, professionals need to keep pace and upskill to remain relevant in the workforce.”
For many accounting and financial professionals, the unfortunate effects of COVID-19 have resulted in many uncertainties, affecting CMA candidates’ plans for preparing and taking the CMA exam. In the interest of offering greater flexibility, ICMA has extended the May-June 2020 testing window to July 31 and will begin the September-October 2020 window on August 1. According to Whitney, many Prometric testing centers in the U.S. and around the world have resumed operations, with most expected to be open by the end of May or early June.
“The health and safety of everyone is ICMA’s priority,” said Whitney. “Many CMA candidates are making use of online study options and using stay-at-home time as an opportunity to prepare for the exam. We’re pleased that Prometric testing centers have made modifications to their facilities to ensure a safe test-taking experience.”
To support CMA candidates, ICMA offers many free study and support resources. Visit IMA’s website to learn more: https://www.imanet.org/cma-certification/getting-started/cma-resources
About IMA® (Institute of Management Accountants)
IMA®, named the 2017 and 2018 Professional Body of the Year by The Accountant/International Accounting Bulletin, is one of the largest and most respected associations focused exclusively on advancing the management accounting profession. Globally, IMA supports the profession through research, the CMA® (Certified Management Accountant) and CSCA® (Certified in Strategy and Competitive Analysis) programs, continuing education, networking and advocacy of the highest ethical business practices. IMA has a global network of more than 125,000 members in 150 countries and 300 professional and student chapters. Headquartered in Montvale, N.J., USA, IMA provides localized services through its four global regions: The Americas, Asia/Pacific, Europe, and Middle East/India. For more information about IMA, please visit www.imanet.org.
About the CMA® (Certified Management Accountant)
IMA’s globally recognized CMA® (Certified Management Accountant) program is a relevant assessment of advanced accounting and financial management knowledge in critical areas such as financial planning, analysis, control, and decision support. For more information about the CMA certification program, please visit www.imanet.org/cma-certification.