CMA Pattern 2025: Know Marking Scheme & Exam Duration

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.

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. 

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.

CMA Intermediate course level has two different groups. Candidates can either take the test papers for both groups or a single group. The test papers included in the CMA Intermediate course level are as follows:

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)