All About US CMA Part-2 Exam

The US Certified Management Accountant (US CMA) exam has two parts. 

  • CMA Part 1: Financial Planning, Performance, and Analytics
  • CMA Part 2: Strategic Financial Management

In this article we are going to give detailed insights about the US CMA part-2 exam.

US CMA Part 2 Syllabus:

TopicsCoverage Percentage
Financial Statement Analysis20%
Corporate Finance20%
Decision Analysis25%
Risk Management10%
Investment Decisions10%
Professional Ethics15%

The part-2 of the US CMA exam focuses on financial decision making. The Institute of Management Accountant (IMA) summarizes the part-2 CMA exam topics and content areas.


Here are the sub-topics of US CMA part-2 exam:

A. Financial Statement Analysis

  1. Basic financial statement analysis
  2. Financial ratios
  3. Profitability analysis
  4. Special issues

B. Corporate Finance

  1. Risk and return
  2. Long-term financial management
  3. Raising capital
  4. Working capital management
  5. Corporate restructuring
  6. International finance

C. Decision Analysis

  1. Cost/volume/profit analysis
  2. Marginal analysis
  3. Pricing

D. Risk Management

  1. Types of risk
  2. Risk identification and assessment
  3. Risk mitigation strategies
  4. Managing risk

E. Investment Decisions

  1. Capital budgeting process
  2. Capital investment analysis methods

F. Professional Ethics

  1. Business ethics
  2. Ethical considerations for financial management professionals and management accounting
  3. Ethical considerations for the organization

US CMA Part-2 Exam Duration:

The US CMA part-2 exam is 3 hours long for MCQs and the second section is of one hour, which consists of essay type questions. So, the total testing duration is 4 hours.

Question typeNo. of QuestionsDurationAvg Time per Question
Multiple choice1003 hours1.8 minutes
Essay21 hour30 minutes

US CMA Part-2 Exam Format:

On the US CMA part-2 exam, there are 3 parts for the Multiple-Choice Questions (MCQs).

  1. The question stem includes all the necessary details for answering the questions and rarely gives irrelevant information as well.
  2. The correct answer choice responds to the stem well compared to other option answers.
  3. The 3 distractors occur to be correct but actually they are not the correct answers.

The US CMA part-2 exam consists of 2 essay scenarios. The essay questions may ask one to write paragraphs or to perform certain calculations. While answering a conceptual essay question, the candidate should write as much as they can about the topic and maximize the points. 

US CMA Exam Format:

The US CMA exam is completely computerized, and you can take this exam at many Prometric centres all over the world. It’s essential to schedule the exam dates in one of the testing windows. Choose which suits you. 

Testing WindowExam Dates
Jan-Feb1st January to 28th February
May-Jun1st May to 30th June
Sep-Oct1st September to 31st October


Hope this article helps you get a detailed insight on the US CMA part-2 exam format, syllabus, exam duration, and testing windows. Although, if you still have any queries related to US CMA, please comment below & we are here to help you with the right solutions.

Simandhar Education:

Simandhar is the official partner of Becker and AICPA – Largest Training provider for US CPA, US CMA , IFRS and EA, HRCI courses in India.

Learn how to clear your CMA exams with extremely satisfying results by getting proper guidance and knowledge through our online courses and video tutorials taught by industry Experts. We’re here to provide you with all the help that you need in order to ace your CMA exams. We are just a call away for any assistance. Simandhar Education is the leading training provider for the CMA USA in India. Contact [email protected] 91 9390584166.

This image has an empty alt attribute; its file name is download-1-Copy-2.png

About the author

Simandhar Education

View all posts

Leave a Reply

Your email address will not be published. Required fields are marked *