CMA (USA) Practice Test Part 1 - Practice Kit 1

This course is a companion course to the course "Know how to be successful in writing the CMA USA Exam #1 MCQ's".

This course covers the CMA material in much more depth. There will be other companion courses covering every section of the Part 1 exam.

This course will further your preparation for the exam for all six sections of CMA USA  1
Part 1: Financial Planning, Performance, and Analytics

• 15% External Financial Reporting Decisions

• 20% Planning, Budgeting, and Forecasting

• 20% Performance Management

• 15% Cost Management

• 15% Internal Controls

• 15% Technology and Analytics

This course covers the CMA Exam material in much more depth. There will be other companion practice tests covering every section of the Part 1 exam as I will continue to develop more in-depth material for the other sections.

I earned my CMA 2 Years ago. I have taught CMA courses and consistently had an 85% to 90% pass rate.  I have marked thousands of CMA final accreditation exams.
Passing CMA exams will not be easy..

Obtaining your CMA designation - believe me - will pay you BIG dividends for the rest of your career. It did for me.

In order to do well, you’ll need to exercise the following skills:

• Knowledge

• Comprehension

• Application

• Analysis

• Synthesis

• Evaluation

Keep in mind that the CMA exam requires a higher level of thinking than just reciting facts or working with basic equations. You’ll need to demonstrate the skills listed above in each knowledge area on the test.

A. External Financial Reporting Decisions – 15%

Financial Statements

Recognition, Measurement, Valuation, and Disclosure

B. Planning, Budgeting and Forecasting – 20%

• Strategic planning

• Budgeting Concepts

• Forecasting techniques

• Budgeting methodologies

• Annual profit plan and supporting schedules

• Top-level planning and analysis

  
  

  C. Performance Management – 20%

  
  

• Cost and Variance Measures

• Responsibility Centers and Reporting Segments

• Performance Measures

D. Cost Management – 15%

• Measurement concepts

• Costing Systems

• Overhead costs

• Supply Chain Management

• Business Process Improvement

E. Internal Controls – 15%

• Governance, Risk, and Compliance

• Systems Controls and Security Measures

F. Technology and Analytics – 15%

• Information Systems

• Data Governance

• Technology-Enabled Finance Transformation