The Institute of Management Accountants (IMA) grants and oversees the CMA certification, and they have a fee structure in place related to membership, entrance to the exam, and sitting for the exam, so let’s look at those costs first.
| Steps to certification | Student | Academic | Professional |
| IMA Membership (annual fee) | $49 | $160 | $295 |
| Entrance fee to take the CMA Exam | $225 | $225 | $300 |
| CMA Exam fee (per part/total) | $370/$740 | $370/$740 | $495/$990 |
| Total costs (assuming no re-takes) | $1,014 | $1,125 | $1,585 |
CMA Exam cost #1: IMA membership costs
The first thing you need to do to move toward CMA certification is join the IMA. The membership fee depends on your professional status.
Students: $49
Academics: $160
Professionals: $295
This fee must be paid annually to maintain membership and is required to not only sit for the CMA Exam, but to maintain certification once it’s earned.
CMA Exam cost #2: Entrance fee
After joining the IMA, you will need to pay the entrance fee to sit for the CMA Exam. This entrance fee provides you with a support package prior to taking the exam, plus reviews for your experience and education prior to receiving your certification.
Students: $225
Academics: $225
Professionals: $300
After paying the entrance fee, you must pass both sections of the CMA Exam within three years. If not, you’ll need to pay the entrance fee a second time.CMA Exam cost #3: Sitting for the exam
Finally, the final “must-do” CMA certification cost is paying to sit for the CMA Exam. The exam is a two-part exam, and you must pay a fee to
sit for each part.
| Students: | $370 per part |
| Academics: | $370 per part |
| Professionals: | $495 per part |
If you don’t pass a part of the exam and need to re-take it, you will also need to pay the CMA Exam fee for each re-take.
Is an exam review a needed CMA certification cost?
The minimum cost, assuming you pass both parts of the CMA Exam on the first try and in the first year of your IMA membership, is between $1,014 and $1,585. But if you want to set yourself up for success and improve your likelihood of passing the first time (thus minimizing your re-take fees and increasing your income potential faster), you’ll want to consider a CMA Exam Review to help you prepare.
The CMA Exam pass rate is only around 45 percent1. This is a difficult exam, and the IMA recommends spending between 150 to 170 hours studying for each part. Having and sticking to a study schedule will only help so much if you don’t know what’s going to be on the exam though. Knowing what to study, testing your knowledge, and understanding the format of the exam before you sit for it can help you pass the first time.
Most review courses range between $1,000 and $2,000 and offer varying degrees of support, material, and information. While this may seem like an unnecessary CMA certification cost, investing in a comprehensive CMA Exam review course is essential to getting Exam Day Readysm.
