Use Answer Explanations To Assist With Cma Essays
A big part of the CMA essays is explaining why the correct answer is correct. Youll be very familiar with this process by practicing with multiple-choice questions and reviewing the correct and incorrect answer explanations. Practicing with good MCQs can actually benefit your essay responses.
You can use multiple-choice questions to help you practice for the essays!
- Open a multiple-choice question and try to determine the correct answer without reading any of the answer choices.
- Write a brief statement explaining why your answer is correct.
- Compare your answer explanation to the one provided with your multiple-choice question and see if you justified your answer.
Dont Run Away From The Mock Exam
The most important lesson to learn from the mock exam is time management.
If you find youre running out of time during the mock exam, skip and mark any question you dont know or feel comfortable with. If time becomes an issue, then prioritize the easy questions and leave the complicated question unmarked. Ideally, you want to answer all exam questions but its better to answer 2 easy questions rather than the 1 question that feels difficult.
Identify Your Learning Style
Each person has a unique learning style, and there is no one-size-fits-all approach. Once you have set your study goals, understand your personal learning style to figure out how to study for the US CMA exam. You could be a visual learner , an auditory learner , or a tactile learner . You just need to identify your learning style and dedicate all your energies to it.
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Drop The Emotional Baggage
Believe it or not, failing the CMA exam is not the end of the world. Youll have another chance to get that job promotion or salary raise. Failure is tough to deal with, but you cant allow yourself to get caught up in all the possible what if scenarios. Otherwise, your anxiety will overtake you.
Instead, focus on what you can control. What can you do in the present to prepare?
Review Material After Youve Completed It
The CMA exam is not an exam to cram for. Youll need to really understand the topics in order to pass, and the best way to do that is to routinely review topics as you progress through your studies. This will take a topic from memorized to mastered and ensure that you have no trouble remembering material on exam day.
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Best Value: Hock International
Hock International wins the best value category because of its affordable pricing, including special offers and payment plans. The company is among the most popular options because it offers top-quality CMA exam prep courses at an accessible price.
You Pass or We Pay Guarantee with Complete package
Questions & Mock Exams package may not be enough to pass
Smaller test bank than some competitors
Strict requirements for You Pass or We Pay Guarantee
Hock International earned a spot for best value because it’s a reputable but affordable option. Since 2000, the Columbus, Ohio-based company has been a trusted name for students taking the CMA, CPA, or CIA exams.
Hock International offers three packages: CMA Review Complete , CMA Review Standard , and Test Bank . The company offers a worldwide, interest-free payment plan and seasonal discounts, making it more accessible for students on a budget. You can also test the program with a 14-day free trial.
While all three options include the test bank and mock exams, the Standard Package also has an interactive study guide, teacher support, and physical and digital textbooks.
The Complete package adds 62 hours of video, along with the company’s “You Pass or We Pay” guarantee. This guarantee says if you dont pass the CMA exam on your first attempt, Hock International will pay the fee for your second exam attempt, assuming you meet the requirements.
Refine Your Educated Guessing
Not surprisingly, candidates get tripped up by exam questions that didnt appear on any of their practice exams. With this in mind, its important that you practice the art of educated guessing throughout your studies.
In other words, as you go through the various topics, be sure not to skip any questions. Also, dont be afraid to use the test mode as opposed to the study mode in your review course. Im not a fan of the extra stress myself but thats precisely why we have to overcome it!
Answer each question the best you can and by whatever means. Your approach could include elimination or applying a concept you learned from another exam. The skill of educated guessing will be critical during the actual exam.
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What Is The Best Way To Study For The Cma Exam
Following a study plan is the best way to ensure you learn all the necessary information efficiently. The CMA Exam Academy review course also includes one-on-one coaching opportunities, engaging video lectures, physical copies of textbooks, and a personalized test bank.
My students have an 88.7% pass rate , which is why I back the course with a guarantee.
Avoid Memorizing Questions Through Variety
Once you start memorizing questions, youre wasting your time. Use a large test bank and randomize the answer choice order so youre engaging with the concepts and not answering by rote.
NOTE: It isnt good enough to use a provider with a large volume of questions if most of them are on the same few topics. Make sure you have access to complete CMA content coverage. Many review providers allow you to select very specific topic areas, so be sure that the number of the questions in every area is large enough to provide variety.
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How Many Hours Should I Study For The Cma Exam
The IMA recommends 150 to 170 hours of studying per exam part for self-studiers. This is because self-studying requires a significant amount of planning and schedule creation.
To reduce the number of hours spent studying, candidates should enroll in a review program. CMA Exam Academy can save students up to 84 hours of review time. This is because our students follow a 16-week program that requires only 8-10 hours of studying per week.
General Knowledge Of Accounting Concepts
Some of the above factors are meaningless for some candidates because they have a solid grasp of accounting concepts and topics. They remember most topics covered in their college courses and are able to reason their way through topics they are unfamiliar with.
Dont get discouraged if thats not you it wasnt me either! I really needed to study.
Ultimately, those are all the main factors that contribute to the amount of time youll need to study. Now lets look at how much you should for each CPA exam section.
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Whats Inside The Cma Exam
Here at Surgent, we recommend that test takers dedicate some extra time to prepare themselves for the exam by really understanding the basics of what the CMA Exam really looks like. This way you know what to expect and have a higher chance of passing on your first try!
So, with that that this chart breaks down what kind of content you can expect in each exam.
Why You Need A Cma Exam Prep Course
According to the Institute of Management Accountants, the global CMA pass rate is about 50%. Therefore, most CMA candidates spend 100+ hours studying. In my experience, most people who do not study with some sort of CMA test prep do not pass on their first attemptor even their second attempt. However, the CMA certification cost is worth the investment in the long run, in my opinion.
But still, you dont want to pay to take the CMA Exam several times if you could just properly study and pass the first time. After all, the CMA exam fees can add up. So with the right prep course, you dont have to dread your CMA exam score release date and youll have a better chance of reaching a CMA exam passing score.
Therefore, I recommend enrolling in CMA classes or finding a CMA course that fits your learning needs. Im going to compare several CMA prep courses with very different approaches, tools, and price points. Moreover, Ill point out the strengths and weaknesses of companies like Becker CMA, Gleim CMA, HOCK CMA, and Surgent CMA. Since most companies offer different levels of classes, Ill review the premium package for each. I hope this will keep my assessment fair. As a result, I hope my unbiased opinion helps you find the right fit.
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Best For Cma Coaching: Cma Exam Academy
CMA Exam Academy
CMA Exam Academy scored a place on the list because of the programs coaching. The companys personalized approach includes weekly support calls, unlimited one-on-one coaching, and easy access to your coach via email.
Pass or 100% refund guarantee
Weekly support calls and unlimited one-on-one coaching
IMA and CMA discounts
No live classes
CMA Exam Academy made our list because of its unique CMA coaching program. Based in Irvine, California, Nathan Liao has helped over 35,000 CMA students prepare for their exam.
CMA Exam Academy offers the Complete CMA Review Course Combo for a $499 down payment and three monthly payments of $329, for a total cost of $1,394. If you pay for the entire program up front, you may qualify for a 22% discount. CMA Exam Academy provides a few sample lessons, but you wont get a robust demo like some competitors.
The program includes weekly support calls with Nathan, unlimited one-on-one coaching via email, weekly assignments with accountability emails, and a 100% pass guarantee, assuming you completed all course material. After signing up, you have access to the course and test bank for two years.
You also receive review lectures, physical and digital books, a test bank of over 3.000 questions, and more. CMA Exam Academy throws in 15% discounts on IMA membership and the CMA entrance exam.
Pro Lots Of Resources
All lectures come in multiple formats, so you can choose to learn in a way thats more comfortable for you. For instance, some people like to sit down and watch a video to study. Others prefer audio content so they can multitask and get more done.
Other bonuses: A 1-year subscription to CPE Flow , an iOS and Android flashcard mobile app, so you can study anywhere, access to a 4,000+ question test bank, and an exclusive IMA 15% discount.
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Cma Study Strategy Essays
When you hear the word essay, you might imagine pages and pages of text, but thats not the case with CMA essays. You can actually respond to these essay questions with short statements or bulleted lists, and when answering a computational question, you dont even have to use sentences at all. You can just show your calculations and make sure to clearly state what the answer is.
How Do I Start Studying For The Cma Exam
The best way to begin studying is by enrolling in a review course. This will streamline the planning and scheduling phase of studying and ensure you cover all the important material.
If you chose to self-study, you should begin by ordering textbooks and setting a study schedule that suits your lifestyle.
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Video And Audio Lectures
Many CMA candidates rely on video and audio lectures for the bulk of their studies. Therefore, I recommend a review provider who has developed high-quality lectures that thoroughly explain the material. Above all, I suggest that you find instruction that breaks down complicated concepts. And most importantly, the lectures should be interesting enough to hold your attention so you can absorb the content.
Why You May Not Want To Attempt The Certified Management Accountant Usa Exam Through Self
There are many reasons why you may not want to attempt the Certified Management Accountant USA exam through self-study.
First, the CMA is a highly specialized and complex exam. It covers various topics, from financial accounting to managerial accounting. Unless you have a strong background in accounting, it will be challenging to understand all the material covered in the CMA exam.
Second, the CMA exam is very time-consuming. It consists of two four-hour exams, which must be taken within 18 months of each other. You will need to dedicate significant time to studying for the CMA exam.
Third, the CMA exam is expensive. The CMA exam fees are $1100 for the first and $950 for the second exams. In addition, you will need to purchase study materials, which can cost hundreds of dollars.
Fourth, the CMA exam is challenging. The pass rate for the CMA exams is generally around 50%. This means that there is a good chance you will not pass the CMA exam if you take it through self-study.
Overall, the CMA exam is a difficult and time-consuming exam that requires a significant investment of time and money. If you are not confident in your ability to pass the CMA exam through self-study, it may be better to enroll in a CMA review course or CMA prep course. These courses will give you the structure and support you need to successfully prepare for the CMA exam.
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What To Do After Passing The Cma Exam
Depending on the order in which you tackle the CMA requirements, you may need to finish acquiring the necessary professional experience or earning a bachelors degree after you pass the CMA exam.
You will also need to start meeting the continuing education requirements after you complete the CMA exam, even if you have not yet received the CMA certificate.
The IMA requires CMAs and CMA candidates who have passed the exam to complete 30 hours of CPE ever year, 2 of which must be in ethics.
The IMA will award you the CMA certificate once you fulfill the experience requirement, and at this time, your CPE and IMA membership must be current.
Dont slack off with your CPE, because the longer you keep your CMA certification up to date, the longer youll experience the benefits of the CMA!
How Many Hours Should I Study For The Aud Cpa Exam
The AUD exam section is pretty academic in nature. A lot of candidates who have auditing backgrounds say that this section is far different from the real world of auditing. This difference could be good for people right out of college since they are more familiar with the academic world of auditing than the real world.
The biggest thing that you need to do is familiarize yourself with the different audit letter opinions and all internal controls. This will help you out immensely.
The AUD exam includes:
- 90 Multiple-choice Questions
- 7 Task-based Simulations
Many people struggle with this section because its it involves memorizing so many auditing procedures and internal controls that arent directly relevant to financial accounting. AUD is also notorious for having suggestive answers where not all the answers are wrong, but some are more right than others. SUPER annoying!
Most experts recommend that you study for 70-90 hours for the AUD CPA exam section.
CPA Exam Study Tip: Memorize the unqualified audit opinion letter. You will need it.
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How Many Hours Should I Study For The Far Cpa Exam
The FAR section is the longest CPA exam section because it covers the most information and number of accounting topics. Its no secret. FAR is a beast and requires your full attention and commitment.
The FAR exam includes:
- 90 Multiple-choice Questions
- 7 Task-based Simulations
With the latest updates to the exam, the total testing time for FAR is the same as the other sections, but dont let that fool you. Its still just as hard as it used to be.
All that being said, its recommended that CPA candidates study for 100-120 hours for the FAR CPA exam section.
CPA Exam Study Tip: Focus on the main topics and concepts. You cant possibly know everything on the FAR exam. Focus on the main information that is tested.
How Long To Study For The Cma Exam
I recommend that you study for 16 weeks total for each part of the CMA exam.
Have additional questions?
Drop them below and I will point you in the direction to find success on your journey to becoming a CMA!
Hi, Im Nathan Liao ! In the past 7 years, over 35,000 CMA candidates came knocking at my door seeking guidance. And just like them, Im here to show you how you can pass the CMA exam on your first attempt without wasting money or time. about me and the awesome team behind CMA Exam Academy.
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Anticipate The Correct Answer Before Reading The Choices
Sometimes, the available answer choices all look reasonable. They can do more harm than good by throwing you off and distracting you. In fact, the 3 incorrect choices are technically known as distractors.
You should always come up with the answer in your head before reading through the choices. If your answer matches one of the choices, then you can be confident that your instinct is correct. Mark it and move on.
Who Should Take The Cma Exam
With only 5,000 new CMAs every year, and only 100,000 awarded to date, the credential could be a way to establish more credibility in the accounting or finance fields. According to IMA, the CMA designation could boost your earnings and career potential, with a 58% salary advantage, for many years to come.
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