There’s nothing quite like the wave of relief that comes when you finish an exam you’ve worked so hard for.
The question is, “What now?”
Apart from relaxing, celebrating, and catching up with friends and family, there are a number of productive things you can do to get ahead of the game.
Don’t get me wrong. You 100% deserve to have fun and unwind after your CMA exam. But it’s also best to start preparing for your future as a successful CMA!
In this article, we’ll explore what you can do to keep yourself occupied while you wait for your CMA test score.
Originally published on July 5th, 2022, this article was updated and republished on September 6th, 2024.
After You Finish the First Exam Part
You may choose to take part 1 or part 2 of the CMA exam first. Whichever you choose, once the first test is done, I suggest that you take a break for a day or two (or a week) and then immediately start studying for the next part.
While the parts of the CMA exam cover different topics, the concepts are generally interrelated.
If you’re in a good brain space and cadence for studying, you don’t want to give yourself a ton of time between each part of the exam. You’ll lose momentum and could lose motivation.
So, take a little break, then get back to the races and prep for the next part.
After You Finish the Second Exam Part
Once you’ve wrapped both parts of the CMA exam, you have a different waiting game ahead of you. The final score you get from that part will determine whether you are going to get your CMA certification.
You have an opportunity now to exercise some self-control – don’t let your mind run wild with possible scenarios. Instead, get your ducks in a row for what will happen whether you pass or fail.
I strongly suggest staying positive at this juncture. You’ll wait for 6 weeks, and it’s not worth being wracked with anxiety about whether you got a passing score.
Go about your normal routine. Work on your professional presence, like your resume or your LinkedIn profile. Loosely plan for the contingencies of passing or failing, and be prepared for what you’ll do either way.
Once you get the news about your score, whether you passed or failed will determine your next steps.
In the Meantime: Submit Education and Experience Paperwork to the IMA
One thing you can do right now (while you wait) is to take the time to collect and submit all of your education and work experience paperwork to the IMA.
Sometimes, the IMA will take some time to review and process your documentation. The sooner you get this submitted, the faster you’ll be able to get your CMA certification.
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What to Do After Passing the CMA Exam
If you pass, celebrate this milestone! But your CMA journey is not finished yet. You’ll continue on to finish your work experience requirements, start networking, and position yourself for new opportunities.
Also, keep in mind that you’ll need to start fulfilling your annual CPE requirements a year after you pass both parts 1 and 2 of the CMA exam. While it might seem like a chore, these standards are designed to encourage continual improvement and upskilling as a professional.
Curious about the roles you can take up after earning this new designation? The following are some lucrative CMA careers you may want to explore.
Corporate Controller
A corporate controller oversees a company’s financial and accounting systems. A person in this position is responsible for managing a range of accounting operations, including budgeting, bookkeeping, investing, risk management, and accounting.
In some companies, corporate controllers also train, supervise, and hire employees who are part of the accounting team.
Chief Financial Officer
The Chief Financial Officer (CFO) is one of the highest positions in a company. This individual manages the company’s financial health and actions.
Some examples of a CFO’s responsibilities include strategic planning and analysis, financial reporting, obtaining funding, crafting budgets, and making investment decisions.
Other Roles
If the role of a corporate controller or CFO is unsuitable or doesn’t interest you, don’t fret. A CMA designation opens the door to different opportunities for varying skill sets.
Here are some other options to explore:
- Financial Analyst
- Cost Accountant
- Accounting Manager
- Senior Accountant
While a sea of opportunities exists, competition can still be stiff. Your CMA certification will definitely tilt the odds in your favor. But apart from that, you can start networking with peers and industry leaders whenever an opportunity comes knocking. This will go a long way in helping you secure your dream role!
But What If I Fail?
If you didn’t pass, don’t give up on your goal of becoming a CMA! You’re in good company, considering that 50% of people don’t pass the CMA exam on the first attempt.
If you’re in that camp, you can double down and get ready to try again. The best part is you have a lot of foundational knowledge: you just weren’t quite prepared enough for test day.
I understand it isn’t easy to stay positive in this situation. But there are plenty of ways to work toward passing your exam retake, like improving your study habits, using practice tests, and taking a CMA prep course that includes personalized coaching and support.
In preparation for a CMA exam retake, it’s also best to look into booking the next available exam slot when you can.
Whether you’re brushing up your resume to launch your new CMA career or buckling down to study for attempt two, I’m here to help. Drop a comment. I’ve worked with people in both scenarios, helping you get what you want by working hard and staying focused.
Hi, I’m Nathan Liao (aka the CMA Coach)! For the last 10 years, over 82,000 accounting and finance pros came knocking at my door seeking guidance and help. If you’re also aiming to conquer the CMA exam on your very first try—without wasting away time or money—you’ve found your ultimate guide. Dive in deeper to discover more about me and the dedicated team that powers CMA Exam Academy. Click here and let’s embark on this journey together!
