No one plans to fail the CMA exam, but the statistics don’t lie. An overwhelming number of candidates fail the exam every single year. In fact, the 2015 pass rates were not very encouraging.
In 2015, IMA reported that only 36% of candidates passed Part One of the CMA exam and 55% passed Part Two.
So what could have contributed to such low passing rates?
Problem #1 — You didn’t give yourself enough time to study
Many candidates have to balance a full time job while they prepare for the exam, and many even have a family to take care of as well. With so many responsibilities, it can be terribly difficult to find enough time to study.
Which means you need to start studying even sooner than your fellow candidates, and with a stronger purpose.
Start by ensuring you complete all of the coursework. Use practice questions to test your knowledge and really make sure that the information has sunk in.
Since you are balancing so many things at once, use your idle time wisely. If you have a long commute use this time to study. If you drive, try listening to an audio review or if you ride public transportation, use flashcards.
If studying at home isn’t conducive (ie. distractions or noisy children), make an effort to study somewhere else like the local library or even a quiet coffee shop.
Problem #2 — You are struggling to understand the material
Truly grasping the CMA material requires understanding the concepts and actually being able to apply them. Can you do this?
If not, this may be the reason you failed. The best way to tackle this particular scenario is by taking advantage of your review course test bank and mock exams. Many courses offer in depth answers for each question, so if you continually get the wrong answer on certain topics, make sure you dive into these answer vaults.
Often times candidates will do well on some sections and poorly on others. Instead of studying everything all the time, focus your efforts on your weaknesses.
Problem #3 — You couldn’t complete the exam in the allotted period of time
Time management is an important skill both when preparing for the exam, and actually taking it. If you were unable to complete all of the multiple choice questions and/or didn’t have enough time to complete your essay questions, then your best bet is to do as many practice questions as possible.
Get familiar with the style and format of computerized questions so you can get better at reading, understanding and responding to them faster.
Since the majority of these issues are related to time management and failing to study on the right areas, I would recommend making a solid study plan and sticking to it. Create a calendar listing each day of the week, and slot in specific hours to study.
Give yourself an incentive to make sure you keep on track. You could promise yourself a day off or a night out with friends if you don’t miss one study session that particular week.
If you’re still struggling to make time and learn the information, why not try something a little out of the box like my CMA Exam Academy’s Bootcamp?
The CMA Bootcamp offers adaptive technology so you focus more on your weaknesses and less on your strengths. Designed to be similar to the actual test format, you will also have the opportunity to get familiar with how the actual exam day will feel like.
Of course, you could always create your own mock exams and manually track the areas you are not performing well in, but this would take a considerable amount of time and effort. This is where the Bootcamp software can really save you time, as it automatically detects your weak areas and creates new mock exams based on testing you on these topics.
Simply put it is a proven, 100% personalized study method that boosts your CMA scores and reduces your study time.
Even if you haven’t failed the CMA exam before, this program can work wonders for you in as little as 30 days.
Until next time,