Both the CMA and CIA Exams test their organizations’ Code of Ethics. While the Code of Ethics may be a small topic on each exam, do not ignore preparing for questions about the Code of Ethics. These are easy points to earn on the exam.
The way to prepare is to memorize the Code of Ethics. It is not long, and by memorizing it you are prepared for a question that covers the specific terms or definitions used in the Code of Ethics. Also, on the CMA Exam, if you get an Essay that covers Ethics, by using the same terms in your answer that are in the Code of Ethics you will be certain to get all of the points.
In addition to being useful for the exam, you should memorize the Code of Ethics anyway because you are supposed to follow it in your professional life, and it is easier to follow it if you actually know what it says.