Becoming a Certified Management Accountant (CMA) has many benefits. It can assist in advancing your career, increase your earning potential, and help you build a robust network of colleagues.
As you prepare to sit for your CMA exam, I have some tips and tricks you can incorporate into your studying and test-taking.
With CMA exam pass rates around 50% globally, it’s crucial to have a strategy for tackling each section.
Time management is your best bet to ensure you finish within the allotted time.
Originally published August 2023, this article was updated and republished on July 24, 2026, for the 2026 CBQ exam format.
The Two Parts of the CMA Exam
Let’s break the exam into its parts and discuss how best to manage your time.
Part-One covers:
- External Financial Reporting Decisions
- Planning, Budgeting, and Forecasting
- Performance Management
- Cost Management
- Internal Controls
- Technology and Analytics
Part-Two covers:
- Financial Statement Analysis
- Corporate Finance
- Decision Analysis
- Risk Management
- Investment Decisions
- Professional Ethics
Those topics are presented in two ways: multiple-choice questions and case-based questions. I’ll walk you through how to best manage your time for each section of the test.
The CMA Exam Academy is test prep built by CMAs for future CMAs. Check out our 10 Steps to Getting Certified post, it covers everything you need to know about the journey to becoming a CMA.
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How to Improve Time Management on the CMA MCQs
The CMA exam contains both conceptual and computational multiple-choice questions (MCQs).
For each part, you’re tasked with answering 100 MCQs and two case-based questions.
With three hours allotted for the MCQs, you have around a minute and a half to spend on each question.
If you stick to this schedule, you should have about 30 minutes at the end to review any questions you passed on, or you can use it to move on to the case-based questions section.
Let’s look at the best way to tackle each question so you can make it to the 100th.
How are the MCQs Scored?
The CMA exam is graded positively – meaning there are no penalties for incorrect answers. You need to get half of the MCQs correct to move to the case-based section. This is why time management is a big deal.
You have to be an efficient test taker to earn as many points as possible.
The MCQs make up 75% of your final CMA score – so paying attention to the time and staying on schedule is essential.
CMA MCQ Structure
Test prep and mock exams are critical to understanding how the MCQs are structured and how best to eliminate wrong answers.
Each MCQ has four answers to choose from.
There’s only one correct answer for each question, though some may be “more correct” than others.
To determine the “most correct” answer, you need to read the questions carefully.
Let me explain that.
What Is the Question Asking?
Some questions may be phrased in a confusing way, so it’s crucial for you to read carefully and make sure you understand what’s really being asked.
To answer questions effectively, break them down into two parts: relevant information and non-essential details.
MCQs are made up of the stem, which identifies the actual question, other key information that helps you identify the best answer, and distraction information that needs to be separated from the rest.
Read each question, identify the stem, and disregard all distractors.
Make an Educated Guess
Remember, wrong answers do not remove points from your final score.
If you find that one question is taking too long or if you’re running out of time – make an educated guess.
If you can eliminate one answer you know is incorrect, you increase your chances of a correct guess, and if you can eliminate two wrong answers, you have a 50% chance of making the right choice.
This is a solid strategy to ensure you can complete all 100 questions, giving you the chance to score as many points as possible.
How to Improve Your CMA CBQ Time Management
Getting to the case-based section is a relief. It means you cleared 50% on the multiple-choice questions and your second section will actually be scored.
You have one hour for two cases, plus whatever time you didn’t spend on the multiple-choice section. That carryover is automatic, and it’s the best reason to keep a steady pace earlier instead of burning your buffer on ten hard questions.
Budget roughly 30 minutes per case. Read the whole scenario before you answer anything, because later questions often use figures from earlier in the case.
How Are Case-Based Questions Scored?
The case-based section is 25% of your score and the multiple-choice section is the other 75%. Together they produce a scaled score out of 500, and you need 360 to pass.
The multiple-choice section is scored automatically. The IMA hasn’t published how case-based questions are scored, but it’s confirmed that CBQs award partial credit and that wrong answers carry no penalty. Each question inside a case earns points on its own. Points are only added, never subtracted, so a half-finished case still scores and a blank field never does.
Working Through a Case
The questions come in mixed formats: drag-and-drop, fill-in-the-blank, select-from-a-list, multi-select, and calculations. You’re not writing prose, so there’s no value in padding an answer or using all the available time for its own sake.
Read each question carefully before you answer. Most are direct, but some carry two parts, and missing the second half is where people lose points they’d otherwise have earned.
If a calculation stalls, put in your best estimate, flag it, and move on. Finishing both cases beats perfecting one.
Additional Time Management Strategies with CMA Exam Academy
During your CMA exam prep, you need to familiarize yourself with the test format. Then you can work on pacing yourself through practice. You’ll get the cadence for how quickly you must move through each question.
I have plenty of resources to help you master time management during the CMA exam.
Let me know if you have additional questions in the comments below, and check out our online test bank to get familiar with the structure.
Hi, I’m Nathan Liao (aka the CMA Coach)! For the last 11 years, over 100,000 accounting and finance leaders came knocking at my door seeking guidance and help. If you’re also aiming to pass 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!
