CMA examination has been structured in a step-by-step process. Examinations in each of the
stages are designed to test the candidates' level of knowledge, comprehension,
applications, analysis, synthesis and evaluation pertaining to each subject. The number of
hours of examination in respect of each subject / paper is given in the schedule
"Examination Structure" in page 8. As you would observe there will be a total of
18 papers and 52 hours of examination.
The examinations permit students to sit for subjects in more than one stage, provided
the criteria laid down are met. Students could either sit for a full stage or certain
subjects in a stage.
When sitting for examinations subject-wise, the following criteria
will have to be followed.
- A maximum of 6 subjects could be taken at one sitting.
- Students sitting for the Technician Stage subjects could take the Intermediate Stage
subjects provided they have passed or are exempted from Financial Accounting Fundamentals
(FAF) and Management Accounting Fundamentals (MAF), to apply for Financial Accounting
& Reporting (FAR) and Advanced Management Accounting (AMA), respectively.
- Intermediate Stage students taking Professional 1 Stage subjects, should have passed or
are exempted from Financial Accounting & Reporting (FAR), to sit for Advanced
Financial Accounting & Reporting (AFA).
- The Examinations have been structured in a step-by-step process and students will have
to progress from Technician Stage upwards. In order to apply for a subject at a higher
grade, all the subjects at the previous stages should have been passed, exempted or
applied for, together with the other subjects.
- Subjects passes will be applicable from stage 1 to 3 provided the minimum pass marks for
each subject is met.
Professional II Stage could be sat only after completing all exams upto Professional I
- All subjects at Professional II Level should be sat together. For passing the
examination, a minimum pass mark for each subject together with an aggregate total should
be obtained. Subject referrals are granted at P II Stage.