CMA Pattern 2026: Know Total Marks, Exam Duration & Weightage
Certified Management Accountant 2026 ( CMA )
CMA Dec 2026: Last Date to Enroll in the Course
31 Jul '26
CMA 2026 Exam Pattern: The Institute of Cost Accountants of India (ICMAI) has released the exam pattern of CMA 2026 for December and June sessions on the official website, icmai.in. ICMAI will be conducting the exam as offline centre-based test for all three courses. Last year, CMA exam for Foundation course was conducted as remote proctored exam, while exam for the Intermediate and Final courses were conducted as online tests from centre.
Scroll down for complete information on CMA 2026 exam pattern for Foundation, Intermediate and Final courses.
- CMA Exam Pattern Highlights
- CMA Foundation 2026: Paper-Wise Weightage
- CMA Intermediate 2026: Paper-Wise Weightage
- CMA Final 2026: Paper-Wise Weightage
- ICMAI CMA Total Marks 2026
- ICMAI CMA Exam Sections
- FAQs on CMA Exam
CMA Exam Pattern Highlights
ICMAI conducts CMA exam at three course levels. Check below to know the key highlights of CMA exam pattern for all levels:
| Exam Features | CMA Exam Details |
|---|---|
| Mode of CMA exam (All three levels) | Offline Centre-Based Test |
| Type of questions | CMA Foundation Exam: Multiple Choice Questions (MCQ) CMA Inter & Final Exam: Descriptive |
| Total marks in each subject paper | 100 |
| Exam Duration | CMA Foundation: 120 minutes CMA Inter & Final: 180 minutes |
| Frequency of Exam | Twice a Year - June & December |
| Negative Marking in CMA Foundation | No |
Read More:
Commonly asked questions
The type of questions in the CMA exam varies based on the course level. The space below mentions the course-wise type of questions in the CMA exam based on the course levels:
- CMA Foundation course exams have multiple choice questions. Candidates have to answer as many as 50 MCQs with four answer options. Out of the four options only one is correct.
- CMA Intermediate course exam has both objective types questions and descriptive type questions.
- Similar to the Intermediate level exam, questions in CMA Final course exams are both objective and discriptive.
CMA exam is conducted at three course levels, namely Foundation, Intermediate and Final. CMA exam for all three course levels are conducted as an offline centre based exam. In the past sessions, ICMAI, the conducting body of the CMA exam, had conducted the Intermediate and Final course exams as an online centre based exam. While the CMA Foundation was conducted as a remotely proctored exam from home. However, the mismanegement in the online exams led ICMAI to shift back to the offline centre based exam.
ICMAI may change the mode of the CMA exams in the upcoming exam sessions. Stay tuned to shiksha's CMA exam pattern article for key developments in the test structure from time to time (https://www.shiksha.com/accounting-commerce/accounting/cma-exam-pattern)
CMA foundation course has four papers. All four papers of CMA Foundation exam will have 50 multiple choice questions of two marks each.
CMA Intermediate course have two groups with four papers each. Each paper of CMA Intermediate has eight questions. Out of these questions, the first question is compulsory, while candidates have to attempt any five questions from the remaining seven questions. While some papers have five questions, first question is compulsory, and out of remaining four questions, three are mandatory.
Similarly, CMA Final course have different question numbers in different test papers.
CMA Foundation 2026: Paper-Wise Weightage
The space below mentions the CMA 2026 paper-wise weightage for foundation course:
| Topic | Weightage |
|---|---|
| Paper 1 - Fundamentals of Business Law & Business Communication | |
| Section A: Fundamentals of Business Laws | 80% |
| Introduction | 10% |
| Indian Contracts Act, 1872 | 30% |
| Sale of Goods Act, 1930 | 20% |
| Negotiable Instruments Act,1881 | 20% |
| Section B: Business Communication | 20% |
| Business Communication | 20% |
| Paper 2 - Fundamentals of Financial & Cost Accounting | |
| Section A: Fundamentals of Financial Accounting | 70% |
| Accounting Fundamentals | 30% |
| Accounting for Special Transactions | 15% |
| Preparation of Final Accounts | 25% |
| Section B: Fundamentals of Cost Accounting | 30% |
| Fundamentals of Cost Accounting | 30% |
| Paper 3 - Fundamentals of Business Mathematics & Statistics | |
| Section A: Fundamentals of Business Mathematics | 40% |
| Arithmetic | 15% |
| Algebra | 20% |
| Calculus - Application in Business | 5% |
| Section B: Fundamentals of Business Statistics | 60% |
| Statistical Representation of Data | 5% |
| Measures of Central Tendency and Dispersion | 15% |
| Correlation and Regression | 15% |
| Probability | 15% |
| Index Numbers and Time Series | 10% |
| Paper 4 - Fundamentals of Business Economics & Management | |
| Section A: Fundamentals of Business Economics | 70% |
| Basic Concepts | 15% |
| Forms of Market | 20% |
| Money & Banking | 20% |
| Economic and Business Environment | 15% |
| Section B: Fundamentals of Business Management | 30% |
| Fundamentals of Management | 30% |
Commonly asked questions
Maximum marks in the CMA exam is similar irrespective of the course level. Papers under all three course levels have a maximum of 100 marks. Candidates answering all the questions correctly will get 100 marks. In the CMA Foundation eaxam, each exam paper has 50 multiple choice questions. Each question fetches two marks. Whereas, the CMA Intermediate and CMA Final have different marking scheme with descriptive and objective type questions. Marks for each question of Intermediate or Final exam paper ranges from seven marks to 15 marks.
CMA exam has three course levels, namely CMA Foundation, CMA Intermediate and CMA Final. CMA Foundation course has four test papers. Candidates need to appear for all four test papers. The Intermediate course of CMA exam have two groups. Candidates appearing for CMA Intermediate exam will have option to appear for both the groups in one exam session. Candidates planning to attempt both groups of CMA Intermediate course have to appear for eight test papers. Passing test papers in both the groups of Intermediate course is mandatory. Candidates can appear for one group in one session or both the groups in one session.
Identical to CMA Intermediate, CMA Final course also has two groups with four test papers each. Candidates can choose to appear for the test papers under both the course groups in one session. Passing all the test papers will be mandatory to get the CMA destination.
CMA Final exam has two-course groups. Candidates can either appear for a single course group or both course groups in one session. The space below mention the test papers for both the course groups of the CMA Final exam:
Final Course Group - III
- PAPER 13: Corporate and Economic Lawns (CEL)
- PAPER 14: Strategic Financial Management (SFM)
- PAPER 15: Direct Tax Lawns and International Taxation (DIT)
- PAPER 16: Strategic Cost Management (SCM)
Final Course Group - IV
- PAPER 17: Cost and Management Audit (CMAD)
- PAPER 18: Corporate Financial Reporting (CFR)
- PAPER 19: Indirect Tax Lawns and Practice (ITLP)
- PAPER 20: One of the following subjects
- PAPER 20A: Strategic Performance Management and Business Evaluation (SPMBV)
- PAPER 20B: Risk Management in Banking and Insurance (RMBI)
- PAPER 20C: Entrepreneurship and Start Up (ENTS)
CMA Intermediate 2026: Paper-Wise Weightage
The space below mentions the paper-wise weightage for CMA intermediate 2026 course:
| Topic | Weightage |
|---|---|
| GROUP I | |
| Paper 5 - Business Laws & Ethics | |
| Section A: Commercial Laws | 30% |
| Introduction to Law and Legal System in India |
5% |
| Indian Contracts Act, 1872 | 10% |
| Sale of Goods Act, 1930 | 5% |
| Negotiable Instruments Act,1881 | 5% |
| Indian Partnership Act, 1932 | 5% |
| Limited Liability Partnership Act, 2008 | |
| Section B: Industrial Laws | 15% |
| Factories Act, 1948 | 10% |
| Payment of Gratuity Act, 1972 | |
| Employees Provident Fund and Miscellaneous Provisions Act, 1952 | |
| Employees State Insurance Act, 1948 | |
| The Code on Wages, 2019 | 5% |
| Section C: Corporate Laws | 40% |
| Companies Act, 2013 | 40% |
| Section D: Business Ethics | 15% |
| Business Ethics and Emotional Intelligence | 15% |
| Paper 6 - Financial Accounting | |
| Section A: Accounting Fundamentals | 15% |
| Accounting Fundamentals | 15% |
| Section B: Accounting for Special Transactions | 10% |
| Bills of Exchange, Consignment, Joint Venture | 10% |
| Section C: Preparation of Financial Statements | 20% |
| Preparation of Final Accounts of Commercial Organisations, Not-for-Profit Organisations and from Incomplete Records | 20% |
| Section D: Partnership Accounting | 20% |
| Partnership Accounting | 20% |
| Section E: Lease, Branch and Departmental Accounts etc. | 15% |
| Lease Accounting | 15% |
| Branch (including Foreign Branch) and Departmental Accounts | |
| Insurance Claim for Loss of Stock and Loss of Profit | |
| Hire Purchase and Installment Sale Transactions | |
| Section F: Accounting Standards | 20% |
| Accounting Standards | 20% |
| Paper 7 - Direct and Indirect Taxation (DITX) | |
| Section A: Direct Taxation | 50% |
| Basics of Income Tax Act | 10% |
| Heads of Income | 25% |
| Total Income and Tax Liability of Individuals & HUF | 15% |
| Section B: Indirect Taxation | 50% |
| Concept of Indirect Taxes | 5% |
| Goods and Services Tax (GST) Laws | 35% |
| Customs Act & Rules | 10% |
| Paper 8 - Cost Accounting | |
| Section A: Introduction to Cost Accounting | 40% |
| Introduction to Cost Accounting | 5% |
| Cost Ascertainment – Elements of Cost | 15% |
| Cost Accounting Standards (CAS 1 to CAS 24) | 10% |
| Cost Book Keeping | 10% |
| Section B: Methods of Costing | 30% |
| Methods of Costing | 30% |
| Section C: Cost Accounting Techniques | 30% |
| Cost Accounting Techniques | 30% |
| GROUP II | |
| Paper 9 - Operations Management and Strategic Management (OMSM) | |
| Section A: Operations Management | 60% |
| Introduction | 5% |
| Operations Planning | 5% |
| Designing of Operational Systems and Control | 5% |
| Application of Operation Research - Production Planning and Control | 20% |
| Productivity Management and Quality Management | 5% |
| Project Management, Monitoring and Control | 15% |
| Economics of Maintenance and Spares Management | 5% |
| Section B: Strategic Management | 40% |
| Introduction | 10% |
| Strategic Analysis and Strategic Planning | 10% |
| Formulation and Implementation of Strategy | 10% |
| Digital Strategy | 10% |
| Paper 10 - Corporate Accounting and Auditing (CAA) | |
| Section A: Corporate Accounting | 50% |
| Accounting for Shares and Debentures | 10% |
| Preparation of the Statement of Profit and Loss and Balance Sheet (As Per Schedule III of Companies Act, 2013) | 10% |
| Cash Flow Statement | 10% |
| Accounts of Banking, Electricity and Insurance Companies | 10% |
| Accounting Standards | 10% |
| Section B: Auditing | 50% |
| Basic Concepts of Auditing | 10% |
| Provisions Relating to Audit under Companies Act, 2013 | 30% |
| Auditing of Different Types of Undertakings | 10% |
| Paper 11 - Financial Management and Business Data Analytics (FMDA) | |
| Section A: Financial Management | 80% |
| Fundamentals of Financial Management | 5% |
| Institutions and Instruments in Financial Markets | 10% |
| Tools for Financial Analyses | 15% |
| Sources of Finance and Cost of Capital | 10% |
| Capital Budgeting | 15% |
| Working Capital Management | 15% |
| Financing Decisions of a Firm | 10% |
| Section B: Business Data Analytics | 20% |
| Introduction to Data Science for Business Decision-making | 5% |
| Data Processing, Organisation, Cleaning and Validation | 5% |
| Data Presentation: Visualisation and Graphical Presentation | 5% |
| Data Analysis and Modelling | 5% |
| Paper 12 - Management Accounting (MA) | |
| Section A: Introduction to Management Accounting | 5% |
| Introduction to Management Accounting | 5% |
| Section B: Activity Based Costing | 10% |
| Activity Based Costing | 10% |
| Section C: Decision Making Tools | 30% |
| Marginal Costing | 30% |
| Applications of Marginal Costing in Short Term Decision Making | |
| Transfer Pricing | |
| Section D: Standard Costing and Variance Analysis | 15% |
| Standard Costing and Variance Analysis | 15% |
| Section E: Forecasting, Budgeting and Budgetary Control | 15% |
| Forecasting, Budgeting and Budgetary Control | 15% |
| Section F: Divisional Performance Measurement | 10% |
| Divisional Performance Measurement | 10% |
| Section G: Responsibility Accounting | 5% |
| Responsibility Accounting | 5% |
| Section H: Decision Theory | 15% |
| Decision Theory | 15% |
Commonly asked questions
CMA Intermediate Course Group - I
- PAPER 5: Business Lawns and Ethics (BLE)
- PAPER 6: Financial Accounting (FA)
- PAPER 7: Direct and Indirect Taxation (DITX)
- PAPER 8: Cost Accounting (CA)
CMA Intermediate Course Group - II
- PAPER 9: Operations Management and Strategic Management (OMSM)
- PAPER 10: Corporate Accounting and Auditing (CAA)
- PAPER 11: Financial Management and Business Data Analytics (FMDA)
- PAPER 12: Management Accounting (MA)
CMA Final exam has two-course groups. Candidates can either appear for a single course group or both course groups in one session. The space below mention the test papers for both the course groups of the CMA Final exam:
Final Course Group - III
- PAPER 13: Corporate and Economic Lawns (CEL)
- PAPER 14: Strategic Financial Management (SFM)
- PAPER 15: Direct Tax Lawns and International Taxation (DIT)
- PAPER 16: Strategic Cost Management (SCM)
Final Course Group - IV
- PAPER 17: Cost and Management Audit (CMAD)
- PAPER 18: Corporate Financial Reporting (CFR)
- PAPER 19: Indirect Tax Lawns and Practice (ITLP)
- PAPER 20: One of the following subjects
- PAPER 20A: Strategic Performance Management and Business Evaluation (SPMBV)
- PAPER 20B: Risk Management in Banking and Insurance (RMBI)
- PAPER 20C: Entrepreneurship and Start Up (ENTS)
Yes, ICMAI has released exam dates for CMA June exam 2026. The CMA June 2026 Inter and Final exams will be conducted between June 11 and June 18, 2026. CMA June 2026 Foundation exam will be held on June 14.
CMA Final 2026: Paper-Wise Weightage
The space below mentions the paper-wise weightage for CMA Final 2026 course:
| Topic | Weightage |
|---|---|
| GROUP III | |
| Paper 13 - Corporate and Economic Laws (CEL) | |
| Section A: Corporate Laws | 60% |
| The Companies Act, 2013 | 40% |
| Insolvency and Bankruptcy Code, 2016 | 10% |
| Corporate Governance and Social Responsibility and Sustainability | 10% |
| Section B: Economic Laws and Regulations | 40% |
| SEBI Regulations | 10% |
| The Competition Act, 2002 | 5% |
| Foreign Exchange Management Act, 1999 | 5% |
| Laws and Regulations related to Banking Sector | 5% |
| Laws and Regulations related to Insurance Sector | |
| Specific Legal Provisions related to MSME Sector | 5% |
| Laws and Regulations related to Cyber Security and Data Privacy | 5% |
| Laws and Regulations related to Anti-Money Laundering | 5% |
| Paper 14 - Strategic Financial Management (SFM) | |
| Section A: Investment Decisions | 25% |
| Investment Decisions, Project Planning and Control | 10% |
| Evaluation of Risky Proposal for Investment Decisions | 10% |
| Leasing Decisions | 15% |
| Securitization | |
| Section B: Security Analysis and Portfolio Management | 35% |
| Introduction | 5% |
| Equity and Bond Valuation and Evaluation of Performance | 15% |
| Mutual Funds | |
| Portfolio Theory and Practice | 15% |
| Asset Pricing Theories | |
| Portfolio Performance Evaluation and Portfolio Revision | |
| Efficient Market Hypothesis | |
| Section C: Financial Risk Management | 20% |
| Risks in Financial Market | 20% |
| Financial Derivatives - Instruments for Risk Management | |
| Section D: International Financial Management | 15% |
| The International Financial Management | 5% |
| Foreign Exchange Market | 10% |
| Foreign Exchange Risk Management | |
| Section E: Digital Finance | 5% |
| Digital Finance | 5% |
| Paper 15 - Direct Tax Laws and International Taxation (DIT) | |
| Section A: Direct Tax Laws | 60% |
| Assessment of Income and Computation of Tax Liability of Various Entities |
60% |
| Tax Management, Return and Assessment Procedure | |
| Grievance Redressal | |
| Penalties and Prosecutions | |
| Business Restructuring | |
| Different Aspects of Tax Planning | |
| CBDT and Other Authorities | |
| E-commerce Transaction and Liability in Special Cases | |
| Income Computation and Disclosure Standards (ICDS) | |
| Black Money Act, 2015 | |
| Case Study | |
| Section B: International Taxation | 40% |
| Double Taxation and Avoidance Agreements (DTAA) [Sec.90. 90A and 91] | 40% |
| Transfer Pricing | |
| GAAR | |
| Paper 16 - Strategic Cost Management (SCM) | |
| Section A: Strategic Cost Management for Decision Making | 60% |
| Introduction to Strategic Cost Management | 5% |
| Quality Cost Management | 5% |
| Decision Making Techniques | 25% |
| Activity Based Management and Just in Time (JIT) | 10% |
| Evaluating Performance | 15% |
| Section B: Quantitative Techniques in Decision Making | 40% |
| Linear Programming | 15% |
| Transportation | |
| Assignment | |
| Game Theory | 15% |
| Simulation | |
| Network analysis – PERT, CPM | |
| Learning Curve | |
| Business Application of Maxima and Minima | 10% |
| Business Forecasting Models – Time Series and Regression Analysis | |
| Introduction to Tools for Data Analytics | |
| GROUP IV | |
| Paper 17 - Cost and Management Audit (CMAD) | |
| Section A: Cost Audit | 50% |
| Basics of Cost Audit | 5% |
| Companies (Cost Records and Audit) Rules, 2014 (as amended) | 10% |
| Cost Auditor | 10% |
| Overview of Cost Accounting Standards and GACAP | 10% |
| Cost Auditing and Assurance Standards | |
| Cost Audit Programme | 5% |
| Cost Audit Documentation, Audit Process and Execution | 5% |
| Preparation and Filing of Cost Audit Report | 5% |
| Section B: Management Audit | 25% |
| Basics of Management Audit | 5% |
| Management Reporting Issues and Analysis | 5% |
| Management Audit in Different Functions | 5% |
| Evaluation of Corporate Image | 5% |
| Information Systems Security Audit | 5% |
| Section C: Internal Control, Internal Audit, Operational Audit and Other Related Issues | 15% |
| Internal Control and Internal Audit | 5% |
| Operational Audit and Internal Audit under Companies Act, 2013 | 5% |
| Audit of Different Service Organisations | 5% |
| Section D: Forensic Audit and Anti-Money Laundering | 10% |
| Forensic Audit | 5% |
| Anti-Money Laundering | 5% |
| Paper 18 - Corporate Financial Reporting (CFR) | |
| Section A: Indian Accounting Standards | 25% |
| Specific Accounting Standards | 25% |
| Section B: Valuation of Shares, Accounting and Reporting of Financial Instruments and NBFCs | 15% |
| Valuation of Shares (Including Determination of Goodwill, Post - Valuation of Tangible and Intangible Assets) | 15% |
| Accounting of Financial Instruments | |
| NBFCs – Provisioning Norms, Accounting and Reporting | |
| Section C: Accounting for Business Combination and Restructuring (in Compliance with Ind ASs) | 20% |
| Accounting for Business Combination and Restructuring | 20% |
| Section D: Consolidated Financial Statements and Separate Financial Statements (in Compliance with Ind ASs) | 20% |
| Consolidated Financial Statements and Separate Financial Statements | 20% |
| Section E: Recent Developments in Financial Reporting | 10% |
| Recent Developments in Financial Reporting | 10% |
| Section F: Government Accounting in India | 10% |
| Government Accounting in India | 10% |
| Paper 19 - Indirect Tax Laws and Practice (ITLP) | |
| Section A: Goods and Services Tax Act & Rules | 70% |
|
70% |
| Section B: Business Data Analytics | 30% |
|
30% |
| Paper 20A - Strategic Performance Management & Business Valuation | |
| Section A: Strategic Performance Management | 50% |
| Introduction to Performance Management |
10% |
| Performance Measurement, Evaluation and Improvement Tools | 15% |
| Economic Efficiency of the Firm – Performance Analysis | 10% |
| Enterprise Risk Management | 15% |
| Section B: Business Valuation | 50% |
| Fundamentals of Business Valuation | 5% |
| Laws and Compliance in Business Valuation | 5% |
| Business Valuation Methods and Approaches | 10% |
| Valuation of Assets and Liabilities | 15% |
| Valuation in Mergers and Acquisitions | 15% |
| Paper 20B - Risk Management in Banking & Insurance | |
| Section A: Risk Management in Banking | 60% |
| Introduction to Risk Management |
5% |
| Interest Rate Risk and Market Risk | 15% |
| Credit Risk and Liquidity Risk | 15% |
| Sovereign Risk and Insolvency Risk | 10% |
| Operational Risk and Off-Balance Sheet Risk | 15% |
| Section B: Risk Management in Insurance | 40% |
| Introduction to Insurance Business | 10% |
| Insurance Intermediaries, General Insurance, Health Insurance and Life Insurance | 15% |
| Managing Risk in Insurance Business | 15% |
| Paper 20C - Entrepreneurship & Startup | |
| Section A: Entrepreneurial Skill Sets | 15% |
| Entrepreneurial Skill Sets |
15% |
| Section B: The Entrepreneurial Eco-system | 15% |
| The Entrepreneurial Eco-system | 15% |
| Section C: Idea to Action | 15% |
| Idea to Action | 15% |
| Section D: Value Addition | 15% |
| Value Addition | 15% |
| Section E: Scale Up | 10% |
| Scalability, Scaling up and Stabilisation of Sustainable Business | 10% |
| Section F: Risk Management Strategies | 10% |
| Risk Management Strategies | 10% |
| Section G: Leadership | 10% |
| Leadership | 10% |
| Section H: Types of New Age Business | 10% |
| Types of New Age Business | 10% |
Commonly asked questions
Candidates can choose CMA test centre preference while filling the online exam form. ICMAI CMA exam centre will be published in the exam admit card.
Candidates can find the CMA syllabus on the official website. Candidates can also find the CMA syllabus on the shiksha's CMA syllabus webpage (https://www.shiksha.com/accounting-commerce/accounting/cma-exam-syllabus)
CMA Foundation exam has four subject papers, namely
- Business Economics and Management (FBEM)
- Business Lawns and Business Communication (FBLC)
- Business Mathematics and Statistics (FBMS)
- Financial and Cost Accounting (FFCA)
ICMAI CMA Total Marks 2026
The CMA total marks for Foundation, Intermediate and Final course for each paer is as follows:
| CMA Level | Marks per Paper | Number of Papers | Total Marks |
|---|---|---|---|
| CMA Foundation | 100 marks per paper | 4 papers | 400 marks |
| CMA Intermediate | 100 marks per paper | 8 papers | 800 marks |
| CMA Final | 100 marks per paper | 8 papers | 800 marks |
Commonly asked questions
There is no difference between ICWA and CMA. The Institute of Cost and Accounting, commonly known as ICMAI, was earlier known as the Institute of Cost and Work Accountant of India (ICWAI). The institute with the name ICWAI, offered the course terming it as ICWA. With change in the name of the institute to ICMAI, the course name has been changed to CMA.
Thus, there is no difference between CWA and CMA. Both are the same courses, only the name has been changed in the previous years. Similarly, ICWAI and ICMAI are the same institute with changes in names over the years. Besides the nomenclature, there is no change in the literal meaning.
There are 3 stages in CMA course, including the Foundation, Inter and Final courses. Candidates who wish to become a certified Cost and Management Accountant in India must complete all three levels of the CMA course.
ICMAI conducts CMA exam twice a year in June and December term. If ICMAI decides to conduct CMA exam thrice it will be notified on the official website.
Yes. ICMAI releases the CMA model question papers for all subjects under Foundation, Intermediate and Final courses. Along with the questions, ICMAI releases the answers to all these question papers. Candidates can access the ICMAI CMA MQPs for better preparation of the relevant course. ICMAI releases the CMA MQP separately for both exam sessions, including June and December.
ICMAI CMA Exam Sections
Check out exam sections/papers in CMA Foundation, Intermediate and Final.
CMA Foundation Course Papers
There are four papers based on accounts in the CMA foundation course. The subjects below are as per the CMA 2026 syllabus:
- PAPER 1: Fundamentals Of Business Laws and Business Communication (FBLC)
- PAPER 2: Fundamentals Of Financial and Cost Accounting (FFCA)
- PAPER 3: Fundamentals Of Business Mathematics and Statistics (FBMS)
- PAPER 4: Fundamentals Of Business Economics and Management (FBEM)
CMA Intermediate Course Papers
The course consists of two groups (Group 1 and Group 2) inclusive of 4 papers each (Papers 5-8) and (Papers 9-12)
| Group I | Group II |
|---|---|
| PAPER 5: Business Laws and Ethics (BLE) | PAPER 9: Operations Management and Strategic Management (OMSM) |
| PAPER 6: Financial Accounting (FA) | PAPER 10: Corporate Accounting and Auditing (CAA) |
| PAPER 7: Direct and Indirect Taxation (DITX) | PAPER 11: Financial Management and Business Data Analytics (FMDA) |
| PAPER 8: Cost Accounting (CA) | PAPER 12: Management Accounting (MA) |
CMA Final Course Papers
CMA Final Course will consist of two groups (Group 3 and Group 4) has 4 papers each (Papers 13-16) and (Papers 17-20)
| Group III | Group IV | |
|---|---|---|
| PAPER 13: Corporate and Economic Laws (CEL) | PAPER 17: Cost and Management Audit (CMAD) | |
| PAPER 14: Strategic Financial Management (SFM) | PAPER 18: Corporate Financial Reporting (CFR) | |
| PAPER 15: Direct Tax Laws and International Taxation (DIT) | PAPER 19: Indirect Tax Laws and Practice (ITLP) | |
| PAPER 16: Strategic Cost Management (SCM) | PAPER 20: One of the following subjects | PAPER 20A: Strategic Performance Management and Business Valuation (SPMBV) |
| PAPER 20B: Risk Management in Banking and Insurance (RMBI) | ||
| PAPER 20C: Entrepreneurship and Start Up (ENTS) | ||
Read More: CMA Syllabus 2026
Commonly asked questions
The passing score for all three levels of the CMA course levels is the same. Candidates securing a minimum of 40 per cent in all test papers and 50 per cent aggregate score pass the CMA exam. Candidates securing less marks even in one of the subjects will fail the entire group or course level for ICMAI CMA.
The Institute of Cost Accountants of India, also known as ICMAI, conducts the CMA exam twice in one year. The two terms of the CMA exam are conducted in December and June sessions. CMA students need to fill the exam form until a specified date to participate in the examination process under a particular exam session.
Candidates who need a new admission in CMA course must fill the regisatration form to enrol themselves to the course. Candidates must enrol themselves until January 31 to appear for CMA exam in June session. On the contrary, to appear for CMA December term exams, candidates need to complete the admission process until July 31. The registration deadlines for the CMA enrolment may or may not extend in a particular exam session.
The CMA June 2026 exam for Foundation course will be conducted for all four papers on June 14, 2026 (Sunday). According to official notice, ICMAI will conduct this exam through offline OMR centre based.
FAQs on CMA Exam
Check out frequently asked questions on CMA exam pattern:
To clear CMA Foundation, Inter or Final exam in first attempt, candidates must strengthen their basics, cover syllabus, practice as much as possible, stay away from distraction, attempt full-length mock tests, use smart revision techniques and evaluate their progess weekly or monthly.
CMA exam is conducted twice a year - June and December. The Institute of Cost Accountants of India allows candidates to appear for the exam twice in a year, provided they fill and submit the exam form before last date for both sessions.
The registration fee for ICMAI CMA foundation course is INR 6,000.
The CMA Intermediate course registration fee is INR 23,100. Candidates can pay this amoung in two installments - INR 12,000 at the time of registration, and INR 11,100 before January 31 and July 31 for June and December term exams.
Students must give at least 8-10 hours daily for each group of CMA exam for about 3 months to prepare well of the exam.
CA is usually considered tougher than CMA if we consider the volume of syllabus and study. Also, the pass rate for CA exam is lower than that for CMA exam.
CMA exam is usually considered difficult to crack in one attempt. However, if a candidate is diligent with his/her preparation and practices mock exams, past papers and sample papers thoroughly before exam, their chances of passing the exam increases.
Candidates have to pay INR 25,000 as CMA Final course registration fee. ICMAI allows candidates to pay this amount in two installments as follows:
- 1st Installement: INR 15,000 (at the time of registration)
- 2nd Installment: INR 10,000 (before January 31 and July 31 for June and December term exams)
The CMA Intermediate exam for June 2026 session will be conducted between June 11 and June 18, 2026. The exam is scheduled on each day. Check Shiksha page to get paper-wise schedule.
ICMAI will administer CMA Final exam June 2026 between June 11 and June 18, 2026. The mode of examination will be offline centre based.
Accounting & Commerce exams you must check out
Exams which are to be conducted soon
6 Jul '26 - 19 Jul '26
6 Jul '26 - 19 Jul '26
CMA Exam
Student Forum
Anything you would want to ask experts?Answered a month ago
The Institute of Chartered Accountants of India (ICAI) has announced 301 exam centres across India for the 2026 cycle. In Kerala, centres include:
Malappuram (Kottakkal)
Kozhikode
Thrissur
Ernakulam
Thiruvananthapuram
Kannur
Palakkad
Kottayam
S
Contributor-Level 10
Answered 2 months ago
CA is usually considered tougher than CMA if we consider the volume of syllabus and study. Also, the pass rate for CA exam is lower than that for CMA exam.
Y
Contributor-Level 6
Answered 2 months ago
Students must give at least 8-10 hours daily for each group of CMA exam for about 3 months to prepare well of the exam.
Y
Contributor-Level 6
Answered 2 months ago
To clear CMA Foundation, Inter or Final exam in first attempt, candidates must strengthen their basics, cover syllabus, practice as much as possible, stay away from distraction, attempt full-length mock tests, use smart revision techniques and evaluate their progess weekly or monthly.
S
Contributor-Level 6
Answered 2 months ago
CMA exam is usually considered difficult to crack in one attempt. However, if a candidate is diligent with his/her preparation and practices mock exams, past papers and sample papers thoroughly before exam, their chances of passing the exam increases.
N
Contributor-Level 6
Answered 2 months ago
Candidates have to pay INR 25,000 as CMA Final course registration fee. ICMAI allows candidates to pay this amount in two installments as follows:
- 1st Installement: INR 15,000 (at the time of registration)
- 2nd Installment: INR 10,000 (before January 31 and July 31 for June and December term exams)
R
Contributor-Level 6
Answered 2 months ago
The CMA Intermediate course registration fee is INR 23,100. Candidates can pay this amoung in two installments - INR 12,000 at the time of registration, and INR 11,100 before January 31 and July 31 for June and December term exams.
V
Contributor-Level 6
Answered 2 months ago
The registration fee for ICMAI CMA foundation course is INR 6,000.
N
Contributor-Level 6
Answered 2 months ago
CMA June admit card will be releases around 10 days before the exam dates. ICAMI does not release the schedule for download of admit card. Therefore, candidates can stay tuned to Shiksha's CMA admit card page to get all updates.
N
Contributor-Level 6
What are the exam center for CA in Malappuram, Kottakkl?