UXL Exams
Dark Mode
UXL Exams
Dark Mode
UXL Exams
UXL Exams
Your first step towards becoming a Cost and Management Accountant.
CMA (India) is a statutory professional qualification in Cost and Management Accountancy, offered by the Institute of Cost Accountants of India (ICMAI) — the only body in India authorised to grant this credential. The course is structured across three progressive levels: Foundation, Intermediate, and Final. On completing all three levels and fulfilling the practical training requirement, candidates become eligible for ICMAI membership and earn the right to use the "CMA" designation. The curriculum is aligned with international standards set by IFAC (International Federation of Accountants) and IAESB (International Accounting Education Standards Board).
Nationality: No explicit restriction; overseas examination centres available (Bahrain, Dubai, Muscat)
The following qualifications grant a complete exemption from the CMA Foundation level. Candidates holding any of these can register directly at the Intermediate level.
CA Intermediate (ICAI): Full exemption from Foundation — Next Entry Point: CMA Intermediate
CA Final (ICAI): Full exemption from Foundation — Next Entry Point: CMA Intermediate
CS / ICSI Passed: Full exemption from Foundation — Next Entry Point: CMA Intermediate (+ paper exemptions at Inter & Final)
ACCA Members: Full exemption from Foundation (Papers 1–4) — Next Entry Point: CMA Intermediate (+ major paper exemptions)
The earlier exemption for Paper 5 (Business Laws & Ethics) granted to CAT-qualified students has been withdrawn effective December 2024 term. Do not apply or claim this exemption.
Exemption OUT of CMA Foundation — into other courses:
| On Passing CMA Foundation | Benefit in Other Course |
|---|---|
| CS Foundation (ICSI) | Passing CMA Foundation grants exemption from CS Foundation examination — reciprocal arrangement confirmed between ICMAI and ICSI under Syllabus 2022 |
For any further cross-body exemptions (e.g., into CA, ACCA, or other international bodies), refer to the official MOU page: https://icmai.in/ClntAbout/MOU
Mode: Offline — OMR-based, centre-based examination
Overseas Centres: Available in Bahrain, Dubai, and Muscat
Online option: Not available — Foundation is offline only
Source: Direct from ICMAI portal
CPE (Continuing Professional Education) and annual membership renewal requirements apply after becoming an ACMA/FCMA member — i.e., after completing Final level and fulfilling all membership criteria. These do not apply at the Foundation stage.
Annual membership fee must be paid to maintain active member status
Members holding Certificate of Practice (CoP): 30 CPE hours per year mandatory
Non-practicing members: Mandatory CPE — refer to ICMAI CPE Guidelines 2024 Annexure A for exact hours
Completing Foundation alone does not entitle the candidate to use any professional designation or post-nominal title.
ICMAI does not prescribe a fixed minimum duration. The only mandatory lead time: coaching enrollment must be completed at least 4 months before the month of examination.
3 years — all Foundation attempts must be completed within this period
4–8 months of structured study alongside registration
A factual side-by-side against the certifications people most often compare it to.
Pass rates are official figures reported by ICMAI and published by Careers360 citing ICMAI's result announcements. ICMAI does not publish a single cumulative pass rate.
| Level | June 2025 | Dec 2025 | Dec 2024 | Observed Range |
|---|---|---|---|---|
| Foundation | Not officially published | Not officially published | Not officially published | — |
| Intermediate (Both Groups) | 13.75% | 22.87% | 17.77% | ~14% – 23% |
| Final (Both Groups) | 18.64% | 25.55% | 22.46% | ~18% – 26% |
| Qualification | Pass Rate | Notes |
|---|---|---|
| CMA India (ICMAI) Intermediate (Both Groups) | ~14% – 23% | Syllabus 2022; Dec 2024–Dec 2025 |
| CMA India (ICMAI) Final (Both Groups) | ~18% – 26% | Syllabus 2022; Dec 2024–Dec 2025 |
| CA (ICAI) Intermediate | ~11–15% | May 2025; ICAI officially declared result |
| CA (ICAI) Final | ~8–13% | May 2025; ICAI officially declared result |
| CS (ICSI) Executive / Professional | ~25–40% | varies by term; ICSI published results |
| ACCA (UK) Individual paper level | ~40–55% per paper | ACCA global pass rate data |
| Criterion | Foundation | Intermediate / Final |
|---|---|---|
| Minimum per individual subject | No individual subject cut-off specified | 40% marks in each paper |
| Aggregate pass mark | 50% aggregate across all 4 papers | 50% aggregate across all papers in the group |
| Negative marking | None | None |
Can be pursued while in graduation (college)? Yes — ICMAI allows students to register for CMA Foundation after Class 12 and pursue it alongside undergraduate studies. Graduation students in their final year may seek provisional registration for Intermediate.
Can be pursued while working (employed)? Yes — no official restriction. Postal (e-learning) coaching is fully self-paced and does not require classroom attendance. Oral coaching requires 4 months of classes per group (240 lecture hours), which can be managed alongside work.
Official restriction on simultaneous other professional courses? No official restriction from ICMAI on pursuing CMA alongside CA, CS, MBA, or other courses simultaneously.
Can CMA be done while pursuing CA articleship? Practically possible — CMA coaching is self-paced (postal mode). However, CA articleship time commitments are substantial; no official restriction from either ICMAI or ICAI.
Common combinations pursued together: CMA + CA (cross-exemptions apply at Foundation level), CMA + CS (cross-exemptions apply), CMA + MBA (Finance), CMA + CMA USA (IMA) for global mobility.
Exam schedule flexibility: Exams twice a year (June & December); candidates can appear for one group at a time; no compulsory sequential sitting.
Key update categories to track via ICMAI Announcements:
Exam Timetables (June / December): icmai.in/ClntStudents/UpdateandAnnouncements
Syllabus Supplementaries: icmai.in/ClntStudents/CMASyllabus (under Supplementary section)
Result Declarations: icmai.in/ClntStudents/Result
Exemption Rule Changes: icmai.in/ClntStudents/Student_Exemptions
Entry-level — designed as an accessible first stage. Primarily MCQ-based (OMR). Moderate difficulty; most structured students clear within 1–2 attempts.