The CMA Learning Outcome Statements (the LOS, or exam syllabus) are changing for the September/October 2024 Exam Window. There are a lot of questions that candidates have about this change. We have answered the most common questions here.
For more detailed information about the changes, click here.
How big is the change?
The changes to the CMA to the LOS are very small. No significant topics are being added or deleted. The largest topic being added is connected to consolidated financial statements in Part 1 Section A. But, there is no requirement added to perform a consolidation. Candidates need to understand what consolidation is when it is required and what is done during a consolidation (the elimination of intracompany balances).
When does it take effect?
The new syllabus will be tested in the September/October Exam window. The January/February and the May/June Exam windows will test the syllabus that was established in 2020.
Will I have to retake an Exam that I have already passed?
No. If you pass Part 1 or Part 2 under the current syllabus, you will keep that credit for whatever time period you are able to keep the credit. The requirement that you must pass both Exams within 3 years of registering as a CMA candidate is still in place.
For example, if you registered as a candidate in November 2021 and passed Part 1 in January 2024, you need to pass Part 2 in the September/October window because you must pass both Exams within 3 years of registering as a CMA candidate. If you do not pass Part 2 in the September/October Exam window, you will need to re-register as a CMA candidate and pass Part 1 again.
What happens if I fail an Exam in the May/June Exam window?
If you take an Exam in the May/June window and fail, you will need to retake the exam under the 2024 syllabus in September/October (or later). The good news is that the changes are very small, and you will not need to study very much new content for your retake.
What should I do if I have not started studying yet?
If you are just starting to study as a CMA candidate, we recommend that you start studying with the 2020 syllabus. It is very possible that you will be able to prepare and take your Exam in the May/June Exam window. If, in a couple of months you realize that you will not be ready by the May/June window, you will just shift your studies to the 2024 syllabus for the September/October Exam window. Again, the changes to the syllabus are small, so this will not be an issue.
What should I do if I have already started studying for CMA?
If you are already studying, continue to study and work towards passing in the May/June Exam window. If you determine that will not be possible, you will simply shift to the September/October window.
What should I do if I pass Part 1 (or Part 2) in the January/February window?
If you pass Part 1 or Part 2 in the January/February Exam window, you will probably not be ready to take the Exam in May/June. If you want to try, there is no problem at all to start under the 2020 syllabus and then switch to the 2024 syllabus if you need to.
When will HOCK have new Materials?
Our CMA exam materials, accessible through 1, 3, and 6-month subscriptions, are undergoing a comprehensive update, including the addition of new content removing topics that will no longer be part of the exam. We anticipate the updated materials to be available in March 2024, and as all our resources are online, updates will be immediately accessible to subscribers. Find out more details about the HOCK CMA Exam Review Subscription.