A lot of people are curious about the level of difficulty associated with the CMA exam. After all, if the pass rates are any indication, it’s safe to say that the majority of candidates find it incredibly tough.
To look at it objectively, there are 3 ways we can look at the CMA exam difficulty, so let’s break it down.
Compared to some other financial and accounting exams, like the CPA and CFA, the scope of material covered is much narrower.
Statistics show that only a few dedicated ones are lucky enough to pass the CMA exam. And by few, I mean only 35% for Part 1 and 49% for Part 2. Not surprisingly, those statistics can make writing this exam even more daunting.
If you look deeper into these numbers you can see how the reduced eligibility requirements may affect this. What I mean is that to write the CMA exam, you only require a bachelor degree and it can be obtained from any discipline in any country. This means you don’t have to have any background knowledge in finance or accounting, which may be contributing to the low pass rates.
If you however, have a background in this area, I believe you already increase your chances of passing on the first try!
As I mentioned above, the CPA exam is broken down into 4 parts, whereas the CMA exam is only 2. Many people find that because there are only two parts, the amount of information covered in each part contributes to the difficulty. It means that you have to study more subjects for each section in order to improve your chances of passing.
While this very well could contribute to the CMA exam difficulty, there are several ways you can tackle this, such as following a specific study plan to ensure you cover each topic with the necessary amount of depth and time.
The key is to prepare. Follow my proven study guide and pass both parts on your first try. Get it here.
But first, I want to know what you are finding the most difficult about preparing for the exam. Comment below and let’s see how I can help you.