No doubt, the Certified Management Accountant (CMA) is a challenging course that tests your skills and knowledge in management accounting. However, not everyone passes the CMA exam on their first attempt due to various reasons, but that does not mean the end of your dreams of becoming a CMA.

Choose the best mentors who can provide you with guidance and help you choose what is best for you in your lowest time. It also helps you to make your study plans and provides you with the best strategies to clear the exam. 

Many students accept failure and start doing something else, but it’s not the right decision. By reading the full article, you will know that you have more chances to attempt the exam again instead of quitting.

How many attempts are allowed for the CMA Exam?

According to the Institute of Cost and Management of India, there is no limit on the number of attempts for the CMA exam. You are eligible to retake the exam as many times as you need under the registration period. After the registration period is over, you have to re-register yourself.

Registration period: The duration of CMA Foundation registration is 3 years, while CMA Inter and Final registration is valid for 7 years.

Is it worth it to quit CMA after Failure?

If you feel demotivated and plan to quit CMA after failure, then it is not a good option because you have invested so much time, money, and efforts into the program. It is better to buy a mentorship plan, your mentor will guide you and motivate you.

Instead of quitting CMA, you have an advantage over other peers in that you have more experience and knowledge that can help you to clear the exam.

If you are already a registered member then start your preparation. If you are not, then re-register yourself and start your preparation with Bhagya Achievers.

Reasons for Failure in the CMA exam:

Pass percentage: A low pass percentage is the main reason for failure due to the difficulty level of the exam. According to the recent survey, only 11.22% of students cleared the CMA final exam.

Inadequate Study plan: Many students do not make study plans due to this they are unable to give sufficient time to each topic. Also, they are unable to do regular revision which may lead to failure in the CMA exam.

No deep understanding:  The CMA course covers wide range of topics. The CMA exam not only tests your theoretical knowledge but also the ability to apply concepts in real world scenarios. Without deep understanding, it is hard to grasp the concept.

Have no proper guidance: The big reason for failure in the CMA exams is not having proper guidance. Without guidance, candidates may struggle to find out important topics, which may lead to failure in the CMA exam.

How to prepare for the CMA exam after failure?

Identify your mistakes: After failure in the CMA exam, the first and foremost thing you have to do is identify your weak areas and those topics in which you performed poorly during exam time and spend as much as time on practicing all these topics, also make strategies to cover all the topics.

Better study plan: Make a better study plan that helps you to allocate time for each topic and ensure that you cover all the necessary topics, and you can give enough time to revision so that you can avoid last minute cramming.

Practice regularly: Practice what you have learned on a daily basis is necessary. Remember, the more you practice, the more you learn, and it also helps you to understand the concept deeply, which enhances your preparation and increases your chances of success in the CMA exam.

Focus on a high weightage topic: Giving more attention to the high weightage topic can improve your chances to get more marks in the exam. Look at past year exam papers or syllabus to find out the topics which carry more marks so that you can clear the CMA exam easily.

Mock test papers: Mock test papers are necessary as they help you to analyze your weak areas in which you have to give more attention. Also, practicing test papers under time conditions improves your efficiency.

Mentor guidance: It is necessary to get guidance from a mentor when you are preparing for CMA because a mentor will guide you properly and give you strategies on how to clear the CMA exam, and help you to make an effective study plan. Also, having an expert guide can keep you motivated.

Conclusion:

Although passing the cost and management course is challenging but rewarding too. After completing the CMA course, you will have many career options with high salary packages. When you see yourself becoming a Cost and Management Accountant and securing the future then it doesn’t matter how many attempts you have made.

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