How to Pass CMA on your First Attempt?

CMA USA is one of the most sought-after professional commerce courses across the globe. The number of students enrolling for this course has also increased exponentially. Employers are eagerly on the lookout for competent management accountants who will help make informed decisions where the employers will benefit from higher remunerations. CMAs on average year $130,000 per year. A CMA certification boosts a person's pay range exponentially. In terms of the figures, according to the recent IMA salary survey, CMA-qualified employees earn on average 33% more than their non-CMA counterparts.

Clearing the CMA exam has to be one of the more challenging tasks. The pass rate for CMA USA sometimes gets as low as 30-40%. Before you go ahead with your CMA studies, you should first be very clear on why you wish to pursue CMA. Is it for the big pay package? Is it cause your parents suggested it? Is it to earn your name in society? What is the reason that drives you to study for the CMA exams? Why are you looking to clear the exam on the first attempt? Ensure that you have been very clear about your objectives. 

Having the right motivation is going to be one of the most determining factors in how you move ahead. Know that money and respect can be achieved through other professions, but why CMA?

CMA is a great option if you enjoy working with numbers and financial information. You are on the right track if studying CMA helps you to visualize yourself practicing it for living happily. 

Here we will go through the key steps you should concentrate on to clear CMA on your first attempt. First, you need to decide on the CMA exams you should take first. Many people recommend Part 2 as it's comparatively easier. Part 1 would be easier for those who have some experience in manufacturing

Top 10 tips to clear CMA on your very first try!

Earning your CMA is an investment. Meeting the CMA eligibility requirements is not just a financial investment but also an investment of your time. If you are like candidates who have full-time jobs then as a working professional you wouldn’t have a lot of time to spare. 

Instead of just focusing on passing, let us look a bit deeper than that too. What are the things you need to focus on and keep in mind? The real behind-the-scenes to clear the CMA exam on your first try. 

So here we go the top CMA study tips and secrets to help you clear your CMA exams on your very first attempt. 

1. Be thorough with your study guide - Everyone learns differently. Some learn by reading or hearing while others learn by watching or doing. Similarly, all course outlines are not designed the same. For some CMA textbooks are the most effective way to learn and retain information. Others focus on videos or podcasts and it's easier for people to retain information in such a manner. Understand the various resources available and be thorough with all portions after you choose a course that suits you. 

Here is how you can identify the right medium for yourself -

Visual learner -

• Prefers charts and graphs
• Prefers making notes or making lists
• Flashcards, highlighting, and underlining are the most used methods

Listener/Auditory learner-

• Read out loud
• Listen to audiobooks or podcasts
• Likes things being explained
• Study groups are very beneficial

Tactile learner - Learns by doing things

• Learns through tests and quizzes
• Enjoys participating in classes
• Generally good at sports and hand-eye coordination

2. Be selective and set clear expectations - The CMA syllabus is very vast you need a good amount of time to study and crack the exams. Getting the right resources and planning your time efficiently is very crucial to you clearing your papers. Many people assume CMA is easier as the exams are MCQs. People mistake that they can easily remove the paper if they skim some books and attempt some right answers. This is furthest from the truth. In order to clear your CMA you need to have the right mindset and put in hard work. It is so recognized all over the world because it is a challenging and very comprehensive exam.

3. Simulate the exam experience - Whether you are a tactile learner or not, there is no better way to feel comfortable and confident on your exams than you take mock exams. No matter what type of learner you are, the only way to be confident on your exam day is by getting hands-on experience. One of the major reasons why most people do not clear the exams is because of anxiety, it can lead you to fail or not right the right answers even if you are well aware of all the study material. If you join a good coaching center then you will have access to good mock exam scenarios which will give you a first-hand experience of what it is like to take exams in real. If you set a timer and take your mock exams seriously then you can identify with what your strengths and weaknesses so that you can have more clarity and keep anxiety at bay. You can also easily identify mistakes you may make and learn how to avoid them, many first-timers make a lot of mistakes as they don't have the right preparations. 

4. Make multiple choice work for you - Multi-choice questions make and break how students perform in the exams. CMA students mention how they generally lose marks on MCQ as they were overthinking their answers. Here are some things you can do to avoid the usual multi-choice traps -

• Answer what seems easier to you first. Do not hesitate to jump between questions and answer questions you are more comfortable with.
• Never leave questions unanswered. Eliminate answers you know may be wrong. If you do not feel certain about an answer then try and take the best guess. 
• When in doubt go with your gut. You studying for such a long period will give you some insight.
• Keep an eye out for the double negatives and try to understand the root of the question
• Review the questions when you have time left over - you would have new information open out once your brain has had some time to think over things. 

5. Dominate the essay session - Essays can be one of the trickiest aspects especially when you have to be on the clock. It is very important to not forget key details and not move too fast when answering the questions. The best way to succeed with the essay section is to showcase all of your work and the very least, easy partial credits. For each scenario, you would have 4-6 questions. Be very mindful of the verbs used in each essay. For eg: one essay could ask you to compare and contrast particular concepts. In such cases, don’t spend all of your time defining topics. Make sure you use proper English grammar, effective writing skills are also very important. Do not use slang or colloquial words. 

6. Ensure you study at home after your classes - Studying right is very crucial when it comes to clearing CMA. It is easy to sit in class as your trainer is taking you through questions and explaining concepts. But in order to solve questions effectively, you need to practice questions on your own and master both speed and accuracy before you attempt the exams. 

7. Take frequent breaks - Too much of anything isn’t good. When it comes to studying this is even more applicable. It is very important to give your brain frequent breaks, scheduling some downtime may seem counterproductive but honestly, it's the best thing you can do for yourself. You can take a 10-minute break for every 1 hour of studying. Get up walk about, stretch and give your eyes as well a change in scenery. This mini break would relax your brain, and recharge it so that you can get back to your books in a much stronger manner. 

8. Get a study buddy - Studying on your own can at times get difficult and challenging. As we discussed earlier each persons studying style would also be very different from the other. Taking that into account having a co-study partner can prove to be very beneficial. Studying in your group will also give you a sense of accountability for your efforts. As you are synced to someone else's study times and you will have to be considerate and complete the portions to ensure that they are not wasting their time. Studying with others also boosts you morally especially if you are feeling a bit low. Having someone else explain the concept may also help you to understand the topics from a different perspective and you can also test each other. 

Hope you are feeling more motivated to attempt your CMA exams now. 

If you need help defining your exam strategies and learning how to achieve the success you can reach out to the career experts here at Lakshya.