How much math is on CMA exam?

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  • #1561621 Reply
    tvpaul
    Participant

    I've been studying using Gleim CMA and there seems to be a ton of formulas. Is it more important to understand what the formulas mean? Or do I need to memorize them and be able to do a lot of workout problems on the actual exam?

    Also anyone that used the Gleim CMA Test bank, how effective did you feel it was?

    Thanks!

    BEC: 80
    AUD: 88
    FAR: Retake
    REG: Retake

    CMA Part 2: 390

    CMA Part 1: TBD

    #1564804 Reply
    Anonymous
    Inactive

    The CMA outline seems similar to FAR outline. I wonder why do you want to take CMA as well?

    #1564813 Reply
    tvpaul
    Participant

    @betovich https://www.youtube.com/watch?v=hiBuVuZwHDI

    BEC: 80
    AUD: 88
    FAR: Retake
    REG: Retake

    CMA Part 2: 390

    CMA Part 1: TBD

    #1564840 Reply
    Anonymous
    Inactive

    Thank you. I took BEC in April so i still can remember some stuff. What materials are you using?

    #1564846 Reply
    tvpaul
    Participant

    @betovich yeah I took BEC in January and still remember stuff so it'll definitely help you. I'm using Gleim CMA

    BEC: 80
    AUD: 88
    FAR: Retake
    REG: Retake

    CMA Part 2: 390

    CMA Part 1: TBD

    #1564851 Reply
    mtaylo24
    Participant

    @tvpaul, I've been working the Gleim cma demo today and yesterday, I see how they are diving further in the details. Not just DM, they going all the way down to raw materials.

    CPA (2017)

    REG:  75

    BEC:  76

    FAR:  77

    AUD: 78

     

    CMA (2019)

    P1: 380

    P2: 360

    #1564852 Reply
    tvpaul
    Participant

    @mtaylo24 it's making me wonder if Gleim cma just has really tough questions because some of these questions feel harder than the CPA.. which I've never heard anyone say the actual CMA exam is harder than the CPA

    BEC: 80
    AUD: 88
    FAR: Retake
    REG: Retake

    CMA Part 2: 390

    CMA Part 1: TBD

    #1564857 Reply
    Anonymous
    Inactive

    I am just checking a 2014 cma Hock review.

    The following information is for the next three questions: ChemKing uses a standard costing system in the manufacture of its single product. The 35,000 units of raw material in inventory were purchased for $105,000, and 2 units of raw materials are required to produce 1 unit of final product. In November, the company produced 12,000 units of product. The standard cost for material allowed for the output was $60,000, and there was an unfavorable quantity variance of $2,500.
    Question 111: ChemKing’s standard price for one unit of material is:
    a) $2.00
    b) $2.50
    c) $3.00
    d) $5.00

    #1564870 Reply
    mtaylo24
    Participant

    @tvpaul, I use Gleim for the CPA, and those questions were NOT baked into BEC. The CMA Exam appears to take a deeper dive in general.

    Example (and this is just chapter 1):

    The following information was taken from last year’s accounting records of a manufacturing company.
    Inventory – January 1 -December 31
    Raw materials – $38,000 – $ 45,000
    Work-in-process- 21,000 – 10,000
    Finished goods – 78,000 – 107,000

    Other information
    Direct labor – $236,000
    Shipping costs on outgoing orders – 6,500
    Factory rent – 59,000
    Factory depreciation – 18,700
    Advertising expense – 24,900
    Net purchases of raw materials – 115,000
    Corporate administrative salaries – 178,000
    Material handling costs – 35,800
    On the basis of this information, the company’s cost of goods manufactured and cost of goods sold are

    A. $460,500 and $489,500, respectively.
    B. $468,500 and $439,500, respectively.
    Answer (B) is correct.
    This solution requires a series of computations.
    Beginning raw materials – $ 38,000
    Add: net purchases raw materials – $115,000
    Materials available – $153,000
    Less: ending materials – (45,000)
    Materials used in production – $108,000
    Direct labor – 236,000

    Manufacturing overhead
    Factory rent – $59,000
    Factory depreciation – 18,700
    Material handling costs – 35,800

    Total Manufacturing overhead – 113,500
    Total manufacturing costs – $457,500
    Add: beginning work-in-process – 21,000
    Less: ending work-in-process – (10,000)
    Costs of Goods Manufactured – $468,500
    Add: beginning finished goods – 78,000
    Less: ending finished goods – (107,000)
    Cost of Goods Sold – $439,500
    C. $468,500 and $470,900, respectively.
    D. $646,500 and $617,500, respectively.

    CPA (2017)

    REG:  75

    BEC:  76

    FAR:  77

    AUD: 78

     

    CMA (2019)

    P1: 380

    P2: 360

    #1564906 Reply
    RE2PECT
    Participant

    ^^^ No thanks lol

    "Luck is what happens when preparation meets opportunity."

    Roger & Ninja

    FAR: 75
    AUD: 73, 81
    BEC: 71, 73, 82
    REG: 68, 82

    #1564951 Reply
    mtaylo24
    Participant

    @Re2pect I don't blame you. BEC was such a nightmare for the both of us LOL!

    CPA (2017)

    REG:  75

    BEC:  76

    FAR:  77

    AUD: 78

     

    CMA (2019)

    P1: 380

    P2: 360

    #1565388 Reply
    Anonymous
    Inactive

    You'll definitely need to know your financial ratios. Every single one. Hope you liked your management/cost accounting classes.

    Also, the sims are pretty hard.

    However, in terms of difficulty, it's not easy to compare since there are only two of them and not four like the CPA. Each of the CMA exams are harder than a single CPA exam, but it's not as difficult as studying for and taking two of the CPA exams. More like 1.5?

    Off topic but has anyone studied for and taken the CGMA exam?

    #1565536 Reply
    tvpaul
    Participant

    @almond I have not taken the CGMA but isn't it similar to the CMA?

    I'm studying for part 2 right now and some of these formulas are insane. What study material did you use? And would you say focusing on ratios is the main focus of part 2? I'm trying to figure out what I need to focus on.

    BEC: 80
    AUD: 88
    FAR: Retake
    REG: Retake

    CMA Part 2: 390

    CMA Part 1: TBD

    #1565943 Reply
    Anonymous
    Inactive

    @tvpaul Not sure about the CGMA as the only people I know who have it are CPA's grandfathered into the designation. Also, I used Gleim CMA for the CMA.

    What you need to focus on, like the CPA, is on your weaknesses while continuing to review everything else. Expect to see everything in that book + whatever you see in your MCQs.

    I read through the book without working a problem. Then I hit about 1500-2000 MCQs per part. I did 40-100 MCQs at a time. I'd oscillate between pulling MCQs from every unit & pulling MCQs from my lowest scoring units and hitting those hard.

    I believe you're still allowed a financial calculator to bring in to the exam with you. If you know / learn reverse Polish notation, a HP 12C Financial Calculator may serve you well.

    #1565997 Reply
    waffle_house
    Participant

    I want to start studying for my CMA as soon as possible, but it is hell of expensive.

    I actually work for a manufacturing facility so those questions don't seem that bad but yes they are very detailed. Still not as hard as the CPA

    AUD - 80
    BEC - 75
    FAR - 84
    REG - 76
    Exams started Sep 2014 -Exams done Mar 2017

    Texas CPA

    I put in work, it was evident

    #1565998 Reply
    waffle_house
    Participant

    @Almond

    Did you take both parts in the same testing window?

    AUD - 80
    BEC - 75
    FAR - 84
    REG - 76
    Exams started Sep 2014 -Exams done Mar 2017

    Texas CPA

    I put in work, it was evident

    #1566007 Reply
    mtaylo24
    Participant

    @waffle_house The way it is set up with TWO blackout months… you are actually better off sitting for both in a window. I requested to sit for the CMA during my company's budget, so I am trying to get my job to release the funds. Including the app fees and membership, it costs $850 just to sit for the first part. No way I would attempt this without a sponsor.

    CPA (2017)

    REG:  75

    BEC:  76

    FAR:  77

    AUD: 78

     

    CMA (2019)

    P1: 380

    P2: 360

    #1566010 Reply
    Anonymous
    Inactive

    @waffle_house Not sure if they were in the same window but they were about two months apart.

    Also, good luck! With a manufacturing background, you should find most of the material relevant.

    #1566013 Reply
    waffle_house
    Participant

    My company will reimburse me once I pass both parts this includes study review,exam fees, registration. A $3k bonus on top of that for passing 🙂 so that is why I want to start soon and have it knocked out before the year ends.

    AUD - 80
    BEC - 75
    FAR - 84
    REG - 76
    Exams started Sep 2014 -Exams done Mar 2017

    Texas CPA

    I put in work, it was evident

    #1566015 Reply
    waffle_house
    Participant

    @mtaylo24

    That amount doesn't include the study material lol

    AUD - 80
    BEC - 75
    FAR - 84
    REG - 76
    Exams started Sep 2014 -Exams done Mar 2017

    Texas CPA

    I put in work, it was evident

    #1566036 Reply
    mtaylo24
    Participant

    @waffle_house I know right! I was itemizing this crap earlier, shaking my head the whole time. Gleim seems to be crazy expensive. The IMA specifically recommends Wiley CMA (I see they are 20% off today), which isn't as expensive. Either way you adding another $300+ just to sit!

    CPA (2017)

    REG:  75

    BEC:  76

    FAR:  77

    AUD: 78

     

    CMA (2019)

    P1: 380

    P2: 360

    #1566042 Reply
    tvpaul
    Participant

    If anyone's still a student in college, you can get a student discount as well. That was the main reason I wanted to try and get it out of the way now. I wish I would've known this earlier, but the IMA also hands out each school a certain amount of scholarship packets to covers all of the fees required for the CMA. You just need to get a faculty member to nominate you! Just fyi for any students out there interested

    BEC: 80
    AUD: 88
    FAR: Retake
    REG: Retake

    CMA Part 2: 390

    CMA Part 1: TBD

    #1566463 Reply
    waffle_house
    Participant

    Has anyone used Fast Forward Academy for their CMA review? They seem super cheap with a ton of questions.

    AUD - 80
    BEC - 75
    FAR - 84
    REG - 76
    Exams started Sep 2014 -Exams done Mar 2017

    Texas CPA

    I put in work, it was evident

    #1566468 Reply
    Anonymous
    Inactive

    i think if it is more than 1500MCQ is ok for each part.

    Post edited – please read the forum rules:

    Forum Disclosure Rules & FAQs

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    – Mod NINJAs

    #1566499 Reply
    mtaylo24
    Participant

    @waffle_house, I signed up for the trial yesterday.

    CPA (2017)

    REG:  75

    BEC:  76

    FAR:  77

    AUD: 78

     

    CMA (2019)

    P1: 380

    P2: 360

    #1586212 Reply
    Anonymous
    Inactive

    Hi All,

    I am trying to study for the CMA part 1 with Gleim cma materials. I am just slowly going thru the book since the text is filled with so many details. Compared to the BEC exam, the cost accounting is definitely more in depth with the CMA exam than BEC. In BEC, Cost accounting is only about 20% of the exam and there were no SIM for BEC before. This was biggest difference in my opinion. I always found cost accounting to be challenging unless you work in the industry. I doubt anyone could remember cost accounting after college without some real life work experience. I feel that the cost accounting is about 40-50% of the CMA part 1 exam.

    For CMA part 1, there are 13 chapters in Gleim CMA. Below are the breakdowns. below percentages are based on Gleim.
    1,2, and 3 chapters are related to GAAP accounting. These three chapters are similar to FAR with less details. (15%)
    4,5,6,7,8,9,10, and 11 chapters are cost accounting in details. (70%)
    12 and 13 chapters are internal controls. (15%)

    Did anyone find the Gleim CMA lecture videos to be useful? i don't think I could learn all of the cost accounting on my own.

    Thanks!

    #1586226 Reply
    mtaylo24
    Participant

    Don't know about the CMA but I use them for CPA and all they do is read the book to you, so I was better off reading the book myself and spamming the MCQ questions.

    CPA (2017)

    REG:  75

    BEC:  76

    FAR:  77

    AUD: 78

     

    CMA (2019)

    P1: 380

    P2: 360

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