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Don’t let the CMA exam costs stop you from becoming a Certified Management Accountant. Yes, there is a spend. However, that spend can pay for itself many times over once you begin earning more as a CMA.
The CMA exam costs around $1,100 to $1,700, depending on whether you’re a student, professor, or professional.
Since the total CMA exam costs vary by IMA membership type, this table will help you quickly see how much you can expect to pay based on where you are in your career right now.
After becoming a member of the Institute of Management Accountants and entering into the CMA program, you’ll register for and pay for each of the two exam parts separately. Keep in mind that there are additional CMA expenses, such as travel to take the exam and the cost of study materials. We’ll explain each of the CMA fees in more detail later in this guide.
| Total CMA Exam Costs | ||||
|---|---|---|---|---|
| Membership Type | Membership Fee | Entrance Fee | Exam Fee | Total Cost |
| Professional | $295* | $300 | $1,090 | $1,685 |
| Academic | $160* | $225 | $814 | $1,199 |
| Student | $49 | $225 | $814 | $1,088 |
The first step to becoming a CMA is being an active member of Institute of Management Accountants (IMA) Opens in new window, which facilitates the CMA certification.
In order to join IMA, you need to select a membership type and pay an annual membership fee. There are three types of memberships: Professional, Student, and Academic.
Professional is the standard membership for working professionals. If you qualify for Student or Academic status, you can enjoy access to many IMA membership benefits at significantly reduced rates, including reduced CMA entrance and exam fees. Depending on the membership type, you will need to pay a one-time processing fee of $15.
| IMA Membership Fees | |
|---|---|
| Membership Type | Fee |
| Professional | $295* |
| Academic | $160* |
| Student | $49 |
*Professional and Academic Memberships Fees include a one-time processing fee of $15.
After becoming an IMA member, the next step is to enroll in the CMA program and pay the CMA entrance fee. The entrance fee amount varies based on your IMA membership type and is non-refundable.
CMA program membership expires after three years. If you don’t pass both parts of the CMA exam within the three-year CMA program period, any passed exam part scores will expire, and you’ll have to reapply to the program and pay the fees again.
| CMA Program Entrance Fees | |
|---|---|
| Membership Type | Fee |
| Professional | $300 |
| Academic | $225 |
| Student | $225 |
Once you’re enrolled in the CMA program, you can register for the CMA exam. You’ll register and pay for each part of the CMA exam separately.
If you fail a part of the CMA exam, you will need to repay the CMA exam fee in order to retake that part of the exam. If you need to cancel or reschedule your exam appointment, you will have to pay a rescheduling fee.
| CMA Exam Fees (per part) | |
|---|---|
| Membership Type | Fee |
| Professional | $545 |
| Academic | $407 |
| Student | $407 |
There are some additional costs associated with earning your CMA that are important to be aware of, including the cost of review materials, travel-related costs to take your exam, and costs to maintain the active status of your CMA certification.
The best way to study is by working with a time-tested review provider. It will require you to spend money upfront, but it takes the guesswork out of your exam prep. Plus, you’ll be following a system that has helped many other candidates pass their exams. The price of a review course can vary, but $1,000 to $2,000 is standard for most providers. Some providers will charge a bit more if they offer additional services, so be sure to look beyond the price tag to see what you’re actually getting. If you’re ready to start studying, learn about our CMA Review Course and how we prepare you to pass.
Depending on where you live, you may have to take the exam at a distant testing center. Be sure to consider where you plan to sit for the exam while you’re making your budget. In addition, make sure you register for the CMA exam early to secure the most convenient exam date, time, and location so that you don’t have to incur any additional costs to go to a testing center farther away.
Even after you pass the CMA exam, you need to pay the IMA membership fee annually to keep your designation active.
In addition, CMAs need to complete 30 hours of continuing education each year. These courses usually cost between $8-12 an hour, but many CPE providers offer discounts when you purchase continuing education hours as part of a package.
Your IMA membership type determines the amounts of all the CMA-related fees you’ll have to pay. This means that taking the CMA exam as a student or professor can save you around $500-$600 dollar in fees.
Another great way to save on CMA exam costs is to make sure you’re prepared for the exam before you sit for it. It sounds obvious, but you’ll be paying between $407 and $545 each time you sit for a part of the CMA exam, so the best way to save money is to make sure you pass each part the first time. If you fail a part, you’ll need to repay the fee.
The way to put yourself in the best position to only pay CMA exam costs once is to choose a CMA review provider and dedicate enough time to studying for the CMA exam.
Students receive significantly reduced CMA fees, so it’s beneficial to begin your CMA journey while you’re still a student.
To qualify, you must be enrolled in six undergraduate or graduate credit hours at a university or college, and you can have a student membership for up to six years. If you’ve already purchased another type of IMA membership, you won’t be able to qualify for student membership.
Students can also save time studying by making good use of their accounting courses. Many accounting classes cover material that is testable on the exam.
At Gleim, we’re committed to supporting the education of future accountants, and we offer special prices to current students. Visit our student page to see how you can save on all your certification exam materials!
IMA offers scholarships to high-achieving students so that they can complete the CMA or FMAA program for free. Scholarship recipients will receive a free Gleim review course to prepare them for their exam! Faculty members at IMA-endorsed schools can nominate up to 10 students at their university each school year. Learn more on our Scholarship Opportunities page.
To qualify, you need to be a full-time faculty member at an accredited institution. Qualifying significantly reduces membership costs and the price of various services/fees.
IMA offers a special program for full-time faculty IMA members. The CMA Opportunity Program allows faculty to complete an application for the chance to have their CMA entrance fee and CMA exam fees paid for by the IMA. To apply for this program, download the CMA Opportunity PDF application and email it to ima@imanet.org.