CMA Part 1: Financial Planning, Performance and Analytics

What is it?

What exactly is the CMA Part 1: Financial Planning, Performance and Analytics?

CMA Part 1: financial planning, performance and analytics for management accountants.

CMA Part 1, Financial Planning, Performance and Analytics, is the first of two Certified Management Accountant exams and covers external financial reporting, planning and budgeting, performance management, cost management and internal controls. It is the section most focused on the numbers side of management accounting and is typically taken first. Passing both parts, plus the experience requirement, earns the CMA, the leading global management accounting credential.

The path in brief

1. Join IMA and enroll
2. Study the Part 1 topics
3. Schedule with Prometric
4. Pass at 360/500
5. Move to Part 2

Before you book

Who is eligible to sit the CMA Part 1: Financial Planning, Performance and Analytics?

Who it is for: Aspiring management accountants

The test itself

What is the format of the CMA Part 1: Financial Planning, Performance and Analytics?

The CMA Part 1: Financial Planning, Performance and Analytics is administered by Prometric test centers and online and runs 4 hours, contains 100 multiple-choice + 2 essays questions and requires Scaled 360 / 500 to pass.

Money & time

How much does the CMA Part 1: Financial Planning, Performance and Analytics cost?

For the CMA Part 1: Financial Planning, Performance and Analytics, the exam fee is Exam fee per part (member rates; entrance fee separate); the all-in cost is typically $795+ per part (pro); most candidates spend 3 to 6 months prep preparing.

The fine print

What are the retake and renewal rules for the CMA Part 1: Financial Planning, Performance and Analytics?

Proctoring & delivery

CMA exams are delivered by Prometric at test centers and via online proctoring, with photo ID and a secure check-in.

Retake policy

A failed part may be retaken in any testing window for the exam fee; candidates have a set period from entrance to complete both parts.

Score reporting

Each part is scored 0 to 500, with 360 required to pass; a score report breaks down performance by content area.

Recertification

CMAs maintain the credential with 30 hours of continuing education per year (120 over three years) and an annual IMA membership and CPE fee.

What it pays

How much does this credential pay?

$81,680 median for accountants and auditors (BLS SOC 13-2011, May 2024)

There is no Bureau of Labor Statistics occupation called "management accountant," so the salary case for the CMA runs through the occupation it certifies: accountants and auditors, which BLS classifies under SOC 13-2011 with a May 2024 median annual wage of $81,680, about $39.27 an hour. The honest framing is that the CMA does not move the occupation-level median in the government data; its value is as an employer-recognised signal of management-accounting and corporate-finance competency — the credential that distinguishes a cost accountant or FP&A professional from the general accounting population — and the certified premium shows up in employer pay practice and promotion eligibility rather than in any BLS line. BLS reports the lowest 10 percent of accountants and auditors earned less than $52,780 and the highest 10 percent more than $141,420, and the May 2024 medians varied by setting — finance and insurance at $87,980, management of companies and enterprises at $86,010, government at $81,120, and accounting, tax preparation, bookkeeping and payroll services at $80,510 — so the corporate-side settings where management accountants work sit at the higher end of that distribution. BLS counted 1,579,800 accountant and auditor jobs in 2024 and projects 5 percent growth from 2024 to 2034, faster than the average for all occupations, with about 124,200 openings a year, most from replacement need as the profession turns over. The credential itself carries a real cost structure that a candidate should price before starting: for 2026, IMA professional members pay roughly $545 per part in exam fees plus a $300 entrance fee and IMA membership dues of about $295 a year, with materially reduced rates for students, and the certification also requires completing both parts plus two years of continuous professional experience within seven years, then 30 hours of continuing professional education a year to maintain it. The practical takeaway is that the CMA is an expensive, time-gated credential whose return comes from positioning you for management-accounting and corporate-finance roles in the higher-paying corporate settings rather than from moving the occupation-level median.

Job growth.+5% projected change 2024-34 for accountants and auditors (faster than average), with about 124,200 openings a year; the CMA targets the management-accounting and corporate-finance segment of the occupation where corporate-side pay is highest.

Source: BLS Occupational Outlook Handbook — Accountants and Auditors

Your schedule

How long should I study for it?

100-160 hours over 12-16 weeks of focused study

A realistic CMA Part 1 study plan runs 12 to 16 weeks at 8 to 12 hours a week, because the part is a breadth exam with a written component and the fastest score gains come from weighting study time to the domains that carry the most points. The IMA Content Specification Outline for Part 1, Financial Planning, Performance, and Analytics, is the scope map: External Financial Reporting Decisions at 15 percent of the exam, Planning, Budgeting and Forecasting at 20 percent, Performance Management at 20 percent, Cost Management at 15 percent, Internal Controls at 15 percent, and Technology and Analytics at 15 percent, so a candidate who studies the six domains equally will under-prepare the planning-and-performance block that carries 40 percent of the paper. The study window should split into a content-coverage phase (weeks 1-8) working the domains in weight order — starting with planning, budgeting and forecasting (strategic planning, budgeting methodologies, forecasting techniques and the annual profit plan) and performance management (cost and variance analysis, responsibility centres, the balanced scorecard and performance measurement), then cost management, external financial reporting, internal controls and technology and analytics — followed by a drilling phase (weeks 9-12) with the question bank, then a final block (weeks 13-16) of full timed practice exams at the real 4-hour format, including the written section. The written section is the part candidates underestimate: the two essay or case-based questions reward showing your calculations and reasoning, so the plan must include at least a few timed written responses, not just multiple-choice drilling. The multiple-choice section is scored first and gates the essays, so practice performance on the 100-question block should clear the bar before the exam. Confirm your testing window, your IMA membership status and the fee structure — roughly $545 per part for professionals, less for students, plus the entrance fee and IMA dues — and plan against the three-year clock to pass both parts, because a failed attempt costs the full fee and a full window.

1. Weeks 1-210-12 hrs/week

   Planning, budgeting and forecasting (20%)

   • Study strategic planning and the budgeting process, methodologies and the annual profit plan
   • Cover forecasting techniques and the supporting schedules
   • Take a section-level practice set and log every miss to a domain
2. Weeks 3-410-12 hrs/week

   Performance management (20%)

   • Master cost and variance analysis and responsibility centres
   • Study the balanced scorecard and performance measurement against plan
   • Drill the variance calculations until they are automatic
3. Weeks 5-610-12 hrs/week

   Cost management (15%)

   • Cover cost concepts and behaviour, and the costing systems
   • Study overhead allocation, supply-chain management and business-process improvement
   • Practise the allocation and costing calculations in volume
4. Week 710-12 hrs

   External financial reporting (15%)

   • Study financial statement recognition and measurement of assets and liabilities
   • Cover the impact of US GAAP vs IFRS differences on reported results
   • Drill the statement-preparation and reconciliation items
5. Week 810-12 hrs

   Internal controls and technology and analytics (30% combined)

   • Study governance, risk and compliance, and the internal control frameworks
   • Cover systems controls, security, information systems, data governance and analytics tools
   • Practise the technology-and-analytics items, a fast-growing part of the blueprint
6. Weeks 9-1212-14 hrs/week

   Question-bank drilling and written-section practice

   • Drill the full question bank in volume, tagging every miss to a domain
   • Practise 2-4 timed written responses, showing calculations and reasoning
   • Take one full 4-hour practice exam and analyse the multiple-choice gate
7. Weeks 13-1610-12 hrs/week

   Full-format rehearsal and gap closing

   • Two or three full 4-hour practice exams under real timing
   • Re-drill the weakest domains from the error log
   • Final pass over variance analysis, budgeting and the written-section format

What to buy

Which study resources are worth paying for?

CMA Part 1 preparation splits into the IMA official materials, the major commercial review courses, and free resources, and the buying logic is anchored by one fact: the IMA Content Specification Outline and the IMA exam practice questions are the authoritative scope, and the well-known commercial review providers — Wiley CMAexcel, Gleim, Becker and HOCK — dominate the market because the exam is too specialised for generic accounting prep to cover. The commercial review courses run roughly $500 to $1,500 depending on the package, provider and access length, and they bundle the question bank, video lectures, a study text and mock exams; the tier differences are mostly about access length, printed texts and additional practice-exam volume, so a candidate should compare the per-part versus both-parts pricing, because many providers discount the two-part bundle. The IMA itself publishes the Content Specification Outlines free, along with official practice questions and a study guide, which are the closest thing to the real exam format; for a candidate on a tight budget, the free outlines plus the official practice questions plus a question-bank subscription can be workable, but the written-section grading is where a structured course adds the most value. The exam fees themselves — roughly $545 per part for professionals plus a $300 entrance fee and IMA membership dues of about $295 a year for 2026, with reduced student rates — should be budgeted separately from prep. The honest rule: the free outlines and official practice questions first, then one commercial review course for the question bank and written-section coaching, and skip the second course, because the candidates who fail are the ones who never ran full timed exams rather than the ones who lacked a second vendor. Prices below are approximate and dated to 2026; we rank nothing by commission.

Prices approximate and dated to 2026 and change frequently; we rank nothing by commission. The IMA fee structure for 2026 is roughly $545 per part for professionals plus a $300 entrance fee and IMA membership dues, with reduced student rates; confirm the current structure and the testing windows at imanet.org before paying.

What you'll face

What question types will I see?

CMA Part 1, Financial Planning, Performance, and Analytics, is a 4-hour computer-based exam of 100 multiple-choice questions in 3 hours plus 2 essay or case-based questions in 1 hour, with the multiple-choice section worth 75 percent of the score and the written section 25 percent, scored on a 0-500 scale with a passing mark of 360 and a multiple-choice gate that must clear roughly 50 percent before the essays are graded. The multiple-choice items are four-option single-best-answer questions drawn from the six domains of the IMA Content Specification Outline — External Financial Reporting Decisions (15 percent), Planning, Budgeting and Forecasting (20 percent), Performance Management (20 percent), Cost Management (15 percent), Internal Controls (15 percent), and Technology and Analytics (15 percent) — and they run from concept questions to calculation items on variances, budgeting, overhead allocation and costing. The written section presents two questions that combine scenario analysis with calculations and written reasoning: traditional essays ask you to compute and explain in prose, while the newer case-based questions present a business case with interactive prompts such as select-from-list, drag-and-drop and calculation entry, but both are graded for the same 25 percent of the part. The calculation items are the defining feature of Part 1: variance analysis, the annual profit plan and its schedules, overhead allocation and the cost-volume relationships appear across the highest-weight domains, and candidates who can perform the arithmetic fluently clear the multiple-choice gate far more reliably than candidates who only recognise the concepts. The practical pacing is about 108 seconds per multiple-choice question, with the written section timed separately. The samples below illustrate a concept item, a calculation item and a written-response illustration; they are editor-written to the published Content Specification Outline and are not live exam items.

Samples are editor-written illustrations of the published blueprint, not live exam items.

Reference

What are the key facts about the CMA Part 1: Financial Planning, Performance and Analytics?

CMA Part 1: Financial Planning, Performance and Analytics is a exam credential; awarded by Institute of Management Accountants (IMA); the exam fee is Exam fee per part (member rates; entrance fee separate); typical preparation is 3 to 6 months prep.

In short

Is the CMA Part 1: Financial Planning, Performance and Analytics worth it?

• First CMA part on planning and performance
• 100 MCQ + 2 essays, pass at 360/500
• Covers budgeting, cost and controls
• Pairs with Part 2 for the CMA

Worth comparing

How does the CMA Part 1: Financial Planning, Performance and Analytics compare with similar credentials?

• CMA Part 2: Strategic Financial Management Institute of Management Accountants (IMA)
• Uniform CPA Examination Exam

Trust

Where does this information come from?

Everything above is taken from the awarding body's own published material. Fees, question counts and domain weights are revised regularly — check the official page before you pay.

• Institute of Management Accountants (IMA) Awarding body

Research confidence: high · Last reviewed 2026-08