CMA Exam Pattern and Passing Criteria
The pass rule is double-barrelled: 40% in every paper and 50% aggregate across the group. Most first-attempt surprises trace back to it.
CMA exams follow one pass rule everywhere: at least 40% in each individual paper and an aggregate of at least 50% across all papers in a group. Foundation is objective and MCQ-based; Intermediate and Final are largely descriptive, three hours per paper, all offline and centre-based. Exams run in two terms every year, June and December.
The double-barrelled pass rule is what trips first attempts. Scoring 40% in every paper is not enough if the group's average sits below 50%, and one excellent paper cannot carry three weak ones past both bars at once. Group strategy matters as much as paper knowledge.
Format by Level
Foundation
Papers
4
Mode
Objective / MCQ, offline centre-based
Duration per paper
120 minutes
Intermediate Groups I & II
Papers
8
Mode
Descriptive, offline
Duration per paper
180 minutes
Final Groups III & IV
Papers
8
Mode
Descriptive, offline
Duration per paper
180 minutes
| Level | Papers | Mode | Duration per paper |
|---|---|---|---|
| Foundation | 4 | Objective / MCQ, offline centre-based | 120 minutes |
| Intermediate Groups I & II | 8 | Descriptive, offline | 180 minutes |
| Final Groups III & IV | 8 | Descriptive, offline | 180 minutes |
The Pass Rule, Unpacked
- Per-paper minimum
- 40% in each individual paper. Fall below it in any paper and the group is not cleared, whatever the aggregate.
- Group aggregate
- At least 50% averaged across all papers in the group. Four papers at exactly 40% gives a 40% aggregate, which fails.
- Group independence
- Groups are cleared separately. Clearing Group I stands even if Group II is failed in the same term.
Costing and accounts questions, scored instantly.
The Exam Calendar
Two terms a year: June and December. Registration for a term closes well ahead of it, usually 31 January for the June term and 31 July for the December term. Miss the cutoff and the next chance is six months away, which is why the registration deadline, not the exam date, is the date to plan around.
The Format Shift at Intermediate
Foundation is MCQ; everything after it is descriptive, three hours of written answers per paper. Candidates coming off an objective Foundation often under-prepare for structured written answers. Build answer-writing practice into Intermediate preparation from the start.
Exam Pattern FAQs
What is the passing criteria for CMA exams?expand_more
A minimum of 40% marks in each individual paper and an aggregate of at least 50% across all papers in a group. Both conditions must be met to clear the group.
Are CMA exams online or offline?expand_more
Offline and centre-based. Foundation is objective/MCQ; Intermediate and Final papers are largely descriptive, three hours each.
How many times a year are CMA exams held?expand_more
Twice: a June term and a December term. Registration typically closes 31 January for June and 31 July for December.
Can I clear one group at a time?expand_more
Yes. Groups can be cleared independently, and a cleared group stays cleared while you attempt the other.
Next steps
- Syllabusarrow_forward
- Eligibility & Registrationarrow_forward
- Preparationarrow_forward
- CMA (ICMAI) Guidearrow_forward
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