CMA Exam

Study Tips
Prepared by
Brian Hock and HOCK international

http://www.hockinternational.com
In our 15 years of helping candidates around the world pass the CMA Exam,
HOCK international has prepared a number of study tips. We have put all of our
study tips into this document so that candidates can easily read all of them. The
order of the study tips is chronological order with the process of preparing for the
exam. The first study tip addresses the only question you need to be able to
answer in order to pass the exam, and the last study tips deal with how the exam
is scored and what to do while you are waiting for your results.
We hope that these are useful for you in your preparation.
The HOCK Team

CMA Exam Study Tips

1. The Only Question You Need to Answer to Pass the Exam ........................ 4
2. Which Part Should I Take First? .................................................................... 4
3. I Purchased Materials, Now What? ................................................................ 5
4. Scheduling for Success and Peace of Mind ................................................. 6
5. Making An Exception In Your Study Schedule ............................................. 7
6. Do Exam Shortcuts and Cheat Sheets work? ....................................... 7
7. How Should I Study? ...................................................................................... 8
8. How to Use the Materials ................................................................................ 9
9. Do I need the Videos? ................................................................................... 10
10. Studying Requires That You Actually Study ............................................ 10
11. Reviewing A Critical Step ........................................................................ 11
12. What is the Best Way to Use the Flash Cards? ........................................ 11
13. How Much Should I Study? ........................................................................ 12
14. What Should I Do the Last Few Weeks Before the Exam? ...................... 13
15. CMA Part 2 P/E Ratio and EPS ................................................................... 13
16. Memorize The Code of Ethics .................................................................... 14
17. Scheduling for Success and Peace of Mind ............................................. 15
18. Preparing for Exam Day .............................................................................. 15
19. Six Tips for Answering Multiple-Choice Questions ................................. 16
20. Preparing for the Essay Questions ........................................................... 16
21. Five Tips for Answering CMA Essays/Problems ...................................... 17
22. Use the Keyboard ........................................................................................ 18
23. All MCQs are Equal ..................................................................................... 18
24. Answer Every Question .............................................................................. 19
25. Making Quick Educated Guesses .............................................................. 20
26. How is my CMA Exam Score Determined? ............................................... 21
27. While Waiting for the Result Should I Start the Other Part? ................ 23

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The Only Question You Need to Answer to Pass the Exam
If you do not know why you are taking the exam, you will most likely fail!
There is one question that you must be able to answer correctly in order to pass
a professional exam. If you can answer this question correctly, you will pass the
exam. If you cannot answer this question correctly, it is very unlikely that you will
pass.
Before I tell you the question, I have good news there are many correct
answers to this question, and no incorrect answers. The question is Why are
you studying for this exam? This question is important because dedication is
what is needed to pass an exam. You need to be prepared to study in the
evenings, in the mornings, and on the weekends. You have to choose to study
instead of doing something with friends. If you know why you are studying, then
you will be able to choose studying instead of spending time with friends.
So, before you start preparing for any question that is going to be on the exam,
make certain you can first answer the question of why you are studying.
Why are you studying?

Which Part Should I Take First?

If the topics on Part 2 are much more familiar to you than the topics in Part
1, you should start with Part 2. Otherwise, start with Part 1.
Because the CMA Exams do not need to be taken in any particular order, many
candidates ask, Which part should I take first? This is a good question, but
there is no right answer.
On the CMA Exam, the topics are not connected between the exam parts, so you
will not get questions on Part 2 that are related to Part 1 topics, or vice versa.
Therefore, I recommend that that you look at the exam syllabus and the topics
tested on each part. If you are more familiar with the Part 2 topics than the Part 1
topics, then you should start with Part 2. Otherwise, start with Part 1.
Many people believe that CMA Part 2 is easier than CMA Part 1 because Part 2
has a higher pass rate. However, this does not mean that Part 2 is easier.
Because most candidates start with Part 1, a lot of candidates never take Part 2
if they cant pass Part 1. So the main reason that the Part 2 pass rate is higher is
that the majority people taking Part 2 have already passed Part 1.
When you decide which Part of an exam to take first, you only need to make
certain that you decide what will be best for you; it does not matter what your
friends or colleagues did. Start with the exam Part that will be the easiest one for
you to prepare for and dont second-guess yourself once you choose. Remember
that you have to take all of the exams Parts eventually the order is only
important for your planning purposes.

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I Purchased Materials, Now What?
A little time spent at the start to get to know your materials will enable you
to study more effectively and efficiently.
Making the decision to purchase exam prep materials is the first step in preparing
to pass the exam. Once you have purchased your materials, what should you do
first? For the purposes of this exam tip I am going to assume that you purchased
HOCK Complete materials, but the same general ideas apply to any materials.
In the first week, you should familiarize yourself with the materials, in a sense an
installation and fact-finding week. I suggest that you do the following, though it
doesnt have to be in this order:
1. Read the different study tips that we have written at:
www.hockinternational.com/category/exam-tips/. These tips and ideas will
help you understand what you will be doing and how you will do it.
2. Download the textbook, and page through the textbook to familiarize
yourself with the topics and layout. Read a couple of pages in a few topics
that interest you and look at some of the examples.
3. Access the videos page, look at the videos available, and watch the
introduction video. Then, watch a few videos from different topics to get a
sense of the style and content of the videos.
4. Install the ExamSuccess software on your computer, and/or become
familiar with how ExamSuccess online works, and do a few practice
questions. It does not matter now if you understand what the question is
asking. The questions are the same in both ExamSuccess and
ExamSuccess Online, so you can use whichever one is more convenient.
5. Install Anki, download the flash cards, and familiarize yourself with how
the flash cards work using the Anki instructions file. The flash cards are an
excellent review tool.
6. Create a study schedule and set up your Personalized Study Plan (on the
Textbook page of My Studies). You should decide when you are going to
study each week so that you have time set aside for studying. See
www.hockinternational.com/exam-tip-scheduling-for-success-peace-ofmind/ for more thoughts on why a schedule is important.
Once you have your schedule and have studied for a couple of weeks, you
should stop and evaluate your studying. Are you staying on track with your study
plan? Has it been working like you thought it would? Are your blocks of study
time too long or too short? Are you trying to study too much each week? If
necessary, revise your Personalized Study Plan. Re-evaluate every month or so
to see how you are doing with your schedule and make further adjustments as
needed.

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Remember that the study process for any professional exam is a marathon, not a
sprint. It does not matter how fast you start studying, but rather that you study
fully and completely so that you pass the exam. Having and following a study
plan will ensure that you are successful in passing on your first attempt, which is
why you purchased materials in the first place!

Scheduling for Success and Peace of Mind

When you have a schedule for your studying, all of your time, both studying
and not studying, will be more productive.
One of the most common questions I get from students is how to go about
studying for the exam.
When you make the decision to study for a professional exam, you have made a
time commitment that will span months, if not years (depending on the exam). On
the first day of a class, I would often tell my students that for the next few months
they would no longer have to ask themselves, What should I do with my free
time? Once you start studying for an exam, you always have something that you
could be doing, whether thats reading the book, watching videos, or answering
practice questions.
The problem is that the feeling that you should or could be studying is always in
your mind. When you are reading a book for pleasure, you begin to think, I could
be studying the textbook. When you are watching your favorite TV show, you
think, I could be watching a video lecture. When you are exercising, you think, I
should be reviewing that last chapter that I read.
To help manage your time when studying for an exam, I strongly encourage you
to make a schedule of when you will study each week by specifically designating
time for studying (our standard study plans suggest about 10 hours per week). It
might be Monday, Tuesday, Thursday and Saturday evenings from 6 8 p.m. It
might be 6 7:30 a.m. Sunday through Friday. It might be an hour at 8 a.m. in
the morning and an hour at 7 p.m. night on Sunday, Monday, Tuesday, Thursday,
and Saturday. Whatever will work for you.
Having a schedule of exactly when you will study will make your non-study time
more enjoyable. You will have your set study times, but you also will know that
during all of the other times of the week, you can do whatever you want. For
example, if you know that you study on Monday, Tuesday, Thursday, and
Saturday evenings, you also know that the other nights are not times to study. So,
when you are relaxing on Wednesday evening, you do not need to worry that you
should be studying because you know it is not a time that you need to be
studying.
A schedule is critical not only for your success on the exam, but also for your
peace of mind while studying. If you have a schedule already, congratulations. If
you do not have a schedule for studying, then the first thing you should do today

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is to make a schedule. Both your studies and your personal life will be more
enjoyable and less stressful as a result.

Making An Exception In Your Study Schedule

There will be times when you cannot study as you planned to, and in these
cases you just need to get back to the schedule as soon as possible.
We have written several exam tips about creating a study schedule and the
importance of following your schedule, both in terms of studying when youre
supposed to and also knowing that there are times when it is OK not to be
studying. No matter how good your plan is and how dedicated you are to your
studies, every once in a while there will be a day or event that requires an
exception to your study schedule. Here are some examples:
1. After months of cold weather, it is finally a beautiful Spring day and your
friends are all going to the concert in the park.
2. Your new smartphone that you ordered has arrived and you want to get it
set up and try all the new features.
3. One of your family members just had a baby and everyone in your family
is going to visit.
4. Your favorite movie series just came out with a new movie.
On days like these, dont waste your time trying to study when you know studying
wont be effective. Instead, spend a short amount of time doing practice
questions or flash cards, find a time in the next couple of days to make up the
time, and then go enjoy yourself. You will be much happier and your studies will
be a lot more productive.
Of course, every day should not be an exception, but when youre studying for
several months there will be a few times when you adjustments are necessary.
Enjoy your special event and then come back to your studies the next day when
you can be focused on learning instead of wishing you were somewhere else.

Do Exam Shortcuts and Cheat Sheets work?

There are no shortcuts to preparing to pass the exam. There is content that
you need to know, and you cannot learn it without putting in the time.
Studying for a professional exam is just like preparing to accomplish any
significant goalthe only way to succeed is to put in the required time and effort.
There is a specific and defined body of knowledge that you need to know to pass
a professional exam and until you have mastered that body of knowledge, you
will not pass the exam.
When someone advertises that they have a shortcut or very short materials that
condense the exam into only what you need to know, this is only a marketing

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gimmick. Unfortunately, marketing does not help you pass the exam. Marketing
may help you feel confident that you have some special knowledge, but when
you get to the exam you will be in for a surprise if you dont know the information
that is tested on the exam.
One comment that is often made by unsuccessful candidates is the questions on
the exam were different than the practice questions. Of course the practice
questions and exam questions are differentthey should be different! If the
actual exam had only questions that you practiced with, then the exam would not
test what you know, but only how many questions you can memorize.
Candidates who pass that exam understand the concepts and theories tested on
the exams and are able to apply that knowledge, even if the questions are asked
differently than the questions that they had practiced with. Earning the credential
means that you can apply your knowledge to new situations, and this is what
your employer expects you to be able to do. Memorizing specific answers is of no
value to your employer.
In order to be prepared to pass the exam the first time, you need more than
shortcuts or simplified materials. You save yourself a lot of time, effort, and
money by studying only once using complete and comprehensive exam prep
materials that prepare you to pass on your first attempt.

How Should I Study?

The main thing that you need to do when you study is to study and to keep
your focus on the goal of passing the exam.
Once you have made the decision to study for the CMA exam and received your
materials, it is easy to be overwhelmed by the amount of information that you
need to learn. This makes How should I study? an important question.
Understand the goal
Remember that your main goal is to pass the exam. To achieve that goal, there
is a syllabus of material that you need to learn. The syllabus tells you what you
need to study, and by process of elimination, what you do not need to study. You
should not get distracted by reading outside of the textbook or searching for other
sources that are not written specifically for the CMA exam.
Overall strategy
The two main study tips that I offer for preparing for an exam are:
1. Remember that preparing to pass the exam is a marathon, not a sprint.
This means that you need to have a long-term plan when you start
studying. You should plan on studying 1-2 hours at a time, three to five
times a week, for several months. It is OK if you miss one session
occasionally.

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2. Making a specific study schedule will help reduce the stress of the study
process. Without a schedule, you always have studying hanging over your
head. If you know that you will study Tuesday evening, Thursday evening,
Friday morning and Sunday afternoon, it makes it a lot easier for you the
rest of the time because you know that it is OK to not be studying.
How many hours do I need to study?
The not very helpful answer to how many hours you need to study is that you
need to study enough. How much is enough is determined by several factors:

Your experience in the areas that are being tested.

Your education in the areas being tested.

Your level of fluency in English.

How well you study when you study.

What preparation materials you use.

As a general starting point, most people need to study around 150 hours per part
for the CMA exams.

How to Use the Materials

Be certain to use all of the study tools available to you. and when you have
questions, be certain to ask us!
The most important thing you can do to prepare for the exam is to study! Having
a schedule will, by itself, not help you pass the exam. Reading motivational
quotes and books will not help you pass the exam. You must actually have
productive and quality study time, and reading the book and watching TV at the
same time does not count.
If you have our Textbook, Questions, and Videos, this is how I would study:
1. Skim through the textbook for a topic and look at the main points.
2. Watch the video(s) about this topic.
3. Do the practice questions in ExamSuccess for this topic.
4. If you are uncertain about any particular concept within this topic, read the
detail that is in the textbook to help you understand the topic and/or rewatch the video(s).
5. Ask us questions! If there is something that you do not understand, ask us.
We are here to help you and we can almost always help you more quickly
than you can figure out an answer yourself.

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6. After you understand the topic and can answer the questions, start using
the flash cards. This will put that topics cards into rotation so that you can
review the topic on an ongoing basis as you continue into the next topics.
If you do not have the videos, replace step #2 with carefully reading the textbook
and working through all of the examples and questions in the book.

Do I need the Videos?

The Videos are not necessary to prepare to pass, but they do make the
process easier and faster.
The short answer is that no, you do not need the videos to pass the exam. Many
people prepare successfully without the videos. While we think that the videos
make your studying more efficient (and perhaps more enjoyable), all of the
information in the videos is also in the textbook. What the videos do is to bring
my many years of teaching experience directly to you, making the topics much
more alive than you just reading out of the book.

Studying Requires That You Actually Study

When you are studying, that is all that you should be doing. If you are
not able to focus 100% on studying, you should not be trying to study.
When I was in the fifth grade band, the trumpet section had a piece that we
needed to play all together from memory, without our music. I decided that
instead of memorizing it by playing it many times, I would memorize it by writing
the notes down and memorizing the list of notes. After I could repeat all of the
notes in my mind, I thought that I was ready. However, as I started playing a
couple of days before the concert, I quickly learned that there was a big
difference between knowing the notes and being able to play them on the
trumpet. Unfortunately, I ended up being the weak link in the trumpet section for
that piece because my method of preparing was not effective.
Like with the trumpet, there is a difference between theoretically preparing for the
exam and actually preparing for the exam. You can read how to study, and you
can read where to study, and you can read motivational quotes for hours and
hours, but unfortunately none of these will actually help you get even one
question correct, let alone pass the exam.
Students often ask me, What is the best way to study? The very short answer is
simply, Study! Read the book. Watch a video. Do five minutes of flash cards.
Just like the only way to learn how to play the trumpet is to actually play the
trumpet, the only way to prepare for the exam is to actually prepare for the exam.
Dont spend too much time studying how to study just study!

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Reviewing A Critical Step
There are so many topics on the exam that you need to make an effort to
retain the knowledge you have already studied.
Any one individual topic on the exam is not difficult by itself. If you could study
one topic and have a test over just that topic, you could do very well on each test.
Some of the difficulty on any professional exam is the amount of materials that
you need to retain at the same time. You have to remember everything you study,
starting from the first day through the last day, which is likely several months later.
In order to help you retain information as you move through the materials, you
should:
1. Use the flash cards on an ongoing basis as you move through the material.
2. Spend 30-60 minutes every week reviewing 15-25 ExamSuccess
questions from topics you have already completed.

What is the Best Way to Use the Flash Cards?

The flash Cards are an excellent review tool be certain to use them.
One of the challenges in preparing for the exam is that you must remember the
first topic that you studied for the entire time that you are studying, so its
important to have a quick way to review main points. Our flash cards are
designed to help with this ongoing review process by helping you drill on main
points and formulas. We suggest that after you complete a topic or subtopic, you
immediately review the flash cards for that topic. This will put those cards into
rotation and show them to you at a regular interval in the future.
For example, after you study the first topic in Section A, review those flash cards.
Continue with each topic. Then, as you are studying Section B, you will be
getting the Section A cards for review. Continue using the cards for Section B as
you move through Section B, so that when you get to Section C, you will have
cards from Sections A and B. And so on.
Because the cards that you do not know as well appear more often, the flash
cards will automatically help you review the topics that you need the most help to
remember. At the same time, the cards will also help you remember all of the
topics youve already studied, but will show you the topics you already mastered
with less frequency.
By utilizing the intelligent scheduling in the flash cards software, you can better
retain the topics you know and learn the topics you dont. Using the flash cards
throughout your studies will not only make your final study and review easier but
will also increase your chance of passing the exam.

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How Much Should I Study?
Each person will need to study a different number of hours. You need to
be certain that you study as many hours as YOU need to study.
This is one of the most common questions that we get asked, and it is a very
important question. If you do not study enough, you will probably fail the exam. If
you study too much, you will probably pass the exam, but you will not have used
your time efficiently.
How much should you study so that you study enough, but not too much? Lets
look at this from short, medium, and long-term perspectives.
On a daily basis (the short-term), you usually should not study more than 2 hours
per day. Studying a little bit every day is far more efficient and effective than
studying a lot on only one or two days a week. There are some topics that
require time for the pieces to fall into place and for most people this process
cannot be hurried in one long study session. The longer you study in any one
session, the less you will learn in that additional time this is the law of
diminishing marginal returns.
On a weekly basis (the medium-term), it is important that you spend 30-60
minutes reviewing the topics that you have already studied. One of the
challenges of preparing is remembering the topics that you studied early on,
usually months before the exam. In this review, you should do some questions
from the already-studied topics (15-20 will be enough) and also scan through the
textbook to remind yourself about the terms and topics.
Overall (the long-term), we cannot give you a total amount of time that you need
to study because it is so different for each person based on your specific
education, experience, study speed, etc. The mock exam can give you a good
sense of how prepared you are, but you will need to be honest with yourself in
making an assessment of your level of readiness. Some of the things that you
need to consider are:
1. How confident are you when answering a question? Do you KNOW that
choice C is correct, or do you only THINK (or hope) that it is correct?
2. For theory questions, do you know why the incorrect choices are
incorrect? If you know why they are incorrect, that is a very good
indication that you understand the topic.
3. Would you be able to explain the topic to someone else? If you know it
well enough to explain it clearly to someone else, you know that topic very
well.
While there is no magic number of hours that you must study, you can follow our
strategies to help you make the most of your study time and honestly assess
yourself to know when you are prepared to pass your exam.

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What Should I Do the Last Few Weeks Before the Exam?
The few weeks before the exam are good time to make certain that you
are prepared to pass. Keep your knowledge fresh and remember that if
you have prepared properly, you know more than you think you do.
After you have spent several months studying, you may get to the point where
you have studied everything and there are still 2-3 weeks before your exam. For
the last few weeks before the exam, I recommend that you:

Continue using the flash cards

Practice multiple-choice questions from all of the topics on the exam. By

this time you may have done some of the questions a few times, so you
may have partially memorized some of the answers. To make reviewing
these questions worthwhile, you can a) make certain that you understand
why the incorrect answers are incorrect, and b) think about what could be
added or changed that would make the question more difficult, and how
you would solve that more difficult question.

Skim through the textbook and look at the main topics and the examples.
For the examples, read through them and make certain that you
understand not only what is being done, but also why it is being done.

Relax! I know it is difficult when the exam is getting closer and closer, but
you will perform better on the exam if you are well rested. This means that
you need to be certain to sleep enough for the three nights before the
exam and eat well so that you are not hungry during the exam. If you
exercise regularly or have a hobby that you enjoy doing, continue to do
them even during your last weeks of preparation.

CMA Part 2 P/E Ratio and EPS

The IMA has provided formula sheets for the Ratios. Be certain to learn
these ratios as shown in the materials.
In CMA Part 2, Ratios is one topic that many candidates are not comfortable with.
One reason is that the same ratio may be calculated in slightly different ways by
different companies or in different textbooks. Fortunately, the ICMA (the
organization that administers the CMA exams) has prepared a ratio formula
sheet with the official ratios for the CMA exam. If you have not already
downloaded it, it is available at http://www.imanet.org/docs/defaultsource/generalpdfs/ratio-definitions.pdf?sfvrsn=2. We use these formulas in the
HOCK materials.
The official formula sheet says that the Price/Earnings Ratio is calculated as the
market price per share divided by earnings per share (EPS), but does not say
whether earnings per share means Basic EPS or Diluted EPS. Because of this
ambiguity, HOCK students frequently ask, Should the P/E ratio be calculated
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using Basic Earnings Per Share of Diluted Earnings Per Share in the
denominator?
To answer this question, HOCK asked the ICMA for clarification, and their
answer was to use Basic EPS when calculating the P/E ratios. So, remember
that the P/E ratio is the market price per share divided by Basic EPS. If you see
other materials use Diluted EPS, those materials are incorrect.
One final tip for studying the ratios: to help with memorizing them, we suggest
that you use flash cards if you have HOCKs you can use those, but you can
also easily make your own flash cards. The process of making flash cards will
also help you learn them.
If you have any questions about the P/E Ratio or ratios in general, we are here to
help.

Memorize The Code of Ethics

Ethics is tested on the exam and you should have in mind to get all of the
points connected to Ethics by memorizing the Code of Ethics.
The CMA exam tests the IMAs 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, 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.

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Scheduling for Success and Peace of Mind
Your last few days should not be spent trying to learn new information.
You should review and try to relax.
A common question among candidates is what they should focus on the last few
days before taking the exam. Our suggestions are:
1. Do not try to learn anything new. If you do not already understand a topic,
you probably will not learn it in the last few days.
2. Prepare a study sheet with the formulas and other short lists that need to
be memorized, and then go over it whenever possible. Even though you
will not be able to take the study sheet to the exam, the act of preparing it
is a learning experience and helps with memorization.
3. Do not focus on essay problems; practice multiple-choice questions
instead. While you may enjoy the feeling of solving a large problem, it is
unlikely that the problem you do will be covered on the exam. In the time it
takes to do a 30 minute problem, you can review 30 multiple choice
questions. The broad scope of coverage is a better use of time during the
last few days than an in-depth review of one specific topic.
4. Sleep. While you may want to study as much as you can, it is critical that
you sleep at least as much as needed to be well rested. Your brain will
function better when you are rested and refreshed.
If you have done a thorough job of preparing during the weeks and months
leading up to the exam, the last few days should be a calm time to review and
prepare mentally to take the exam.

Preparing for Exam Day

Sleeping an extra hour the night before the exam will help you more
than studying for another hour.
Here are some tips for the day of your exam.
1. Be sure to get a good nights rest the night before your exam. Eat and
drink enough so that you will not be hungry or thirsty during your exam.
2. Allow plenty of extra time to travel to your testing site there are no
excuses for a flat tire, the bus being late, or bad traffic. It is much better to
arrive early and be calm than end up having to rush in with stress from
traveling.
3. Because the test center could be warmer or cooler than you might expect,
dress in layers so that you can adjust what you are wearing to be
comfortable.

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4. Watch the tutorial at the beginning of your test session to be certain that
you know how the exam computer works and that your keyboard and
mouse work properly.
5. After all of your months of preparation, remember that you are prepared to
pass the exam. It is time for you to relax and answer the questions calmly
and efficiently using the knowledge that you learned during your studies.

Six Tips for Answering Multiple-Choice Questions

Every MCQ is worth the same amount. Having a good strategy and plan
for MCQs will help you maximize your score.
1. Everything that you need to answer the question is there, even if it
does not seem like it the first time reading through the question.
2. Not everything in the question is always needed to answer the
question. Sometimes it is just as important to know what is not needed as
to know what is needed.
3. Never leave a question unanswered. If you do not know the answer, or
the question is really long, take a guess, mark the question, and move on.
4. Sometimes you can answer the question by knowing which answers
are incorrect. The process of elimination can quickly improves your
chances if you need to guess.
5. Remember the Rule of Zero if zero is a choice, spend a moment to
see if there is a reason that makes zero automatically either correct or
incorrect.
6. Beware of extreme words like always, never, all, and none. There are
situations when an extreme answer is correct, but consider these choices
carefully.

Preparing for the Essay Questions

The Essay questions are not something to be intimidated by. Preparing
properly for the MCQs will also prepare you for the Essays.
We know that preparing for the essay problems on the CMA exam may seem
intimidating, so we have prepared some tips that will hopefully help you feel more
comfortable with the essay portion of the exams.
First, preparing for a specific topic for a problem is very risky. The essay portion
of the exam is a bit of a lottery, because there are a lot of topics that may be
covered, but you will only be asked about a few of them. There will be some
topics on the exam that you know better than other topics. If you are lucky and
they ask you about the topics you know, then that is good. However, it is possible
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that they will ask you about topics that you are not as strong in. In this case, you
will have more difficulty answering the questions, but do not panic. Answer what
you can to the best of your ability, and move on to the next question. Come back
to it later if you have time.
Secondly, remember that you do not need to get 100% correct on the problems;
you will receive partial credit for what you do correctly and are not penalized for
what you do incorrectly. Do not worry if your calculations do not balance
perfectly. If there is a problem that has multiple steps to it and you make a
mistake on the first step, you do not automatically miss the remaining steps.
When grading, they will say, Let us assume that the answer from step one is
actually correct. If that is the correct answer, did they perform step 2 correctly? If
after you have completed all of the steps you still have time, then you can go
back and try to make an answer perfect.
Next, you want to be certain that you answer every part of each question. Any
part of the question that you leave blank will be a 0. If you write something, you
at least have the chance to receive partial credit. It is much better to receive 25%
partial credit than no credit at all, and that could make the difference between
passing or failing.
Finally, be prepared for a qualitative question as part of an essay question. For
example, it is an easy multiple-choice question to ask, What is the maximum
price we will pay to an outside supplier? There is a formula and a correct answer.
However, in a problem, it would be possible that the first step is to ask you to
calculate something, and then the second step asks a conceptual question, i.e.
And why is this important? Continuing the example about the maximum price
we would pay, the second part of the question could be, What other factors
would need to be considered in addition to the price?

Five Tips for Answering CMA Essays/Problems

If you are confident in your preparation, the Essays will be a good place
to score a lot of points.
1. Do not be nervous. You probably will not need to write very much.
2. Remember that you get points for every step that you have correct,
even if you get the wrong answer (i.e. you are given partial credit). Do as
much as you can and do not leave any answer blank.
3. It is common for questions to have two parts, a calculation and an
explanation. Even if you do not get the calculation correct, you can still get
full credit for the explanation.
4. Do not prepare for problems about specific topics. You need to be
prepared to answer questions about any topic on the syllabus.

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5. Make sure that you have a broad knowledge of all of the exam topics
and can explain why a number is important or significant.

Use the Keyboard

Using the keyboard to answer and navigate the MCQs can save you 5
minutes that may be very valuable to you at the end of the MCQ section.
During your exam, you should use the keyboard instead of the mouse to select
your answers and move to the next question; the keyboard is much faster than
trying to hit a small circle with your mouse. This may only save you a few
seconds on each question, but if it saves you 3 seconds on each question, over
the course of 100 questions you will have an extra 5 minutes to spend answering
questions instead of moving the mouse. Those extra minutes may be the
difference between being able to answer the last few questions on the exam and
having to make last-minute guesses on them.
When taking the CMA exam, if you want to select answer A, hit a on the
keyboard. To move to the next question, hit Alt-n on the keyboard. So, to select
choice A and move to the next question, hit a and then hit Alt-n. The HOCK
CMA ExamSuccess study software works the same way as the Prometric exam,
so you can use it to practice using the keyboard instead of the mouse to build
your speed. You may also find it is faster to leave your mouse positioned over
the Next button on the screen and hit the mouse button to move to the next
question, so try that as well.

All MCQs are Equal

A long, difficult MCQ has the same value as a short, easy MCQ. Make
certain that you answer all of the short, easy ones before you spend time
trying to solve a long, difficult one.
On the CMA exam, each multiple-choice question is weighted the same; a short
question about the definition of a word counts the same as a long computational
question. You should not waste time on questions that you do not understand or
that would take too long to answer.
Keeping this in mind, here are some possible strategies for answering questions
on the exam:
1. Do not spend a lot of time on any single question. If there is a long
question that has a lot of text, just read the question first. If you do not
understand the question very well, choose an answer, mark the question,
and move on. If you have time at the end of the exam, you can come back
to it.
2. Do not spend time on long calculation questions. If there is a question that
has a lot of math that you are not certain how to calculate, choose an

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answer, mark the question, and move on. If you have time at the end of
the exam, you can come back and try to work through the math.
3. Do not check your math by recalculating the numbers; you do not need
to spend the time on this. If you want, you can mark the question and
come back and recheck your math after you have answered all of the
other questions.
Never leave a question unanswered. If you do not understand a question, or
want to come back to it later, you should still choose an answer and then mark
the question. An unanswered question is wrong 100% of the time. If you guess,
you still have a 25% chance of being correct.

Answer Every Question

There is no penalty for incorrect answers. An unanswered question has a
zero percent chance of being correct. If you do not know GUESS!
It is important to remember that each multiple-choice question is equally
weighted on the CMA exam. This means that your score will be the same
whether you get the 80 most difficult questions on the exam correct or get the 80
easiest questions correct.
What does this mean for you when you are taking the exam? It means that if
there is a long question with a lot of information or a question that you know will
require a lot of calculations, you should:
1. Make an educated guess and select an answer
2. Mark the question
3. Go on to the next question
If, at the end of the exam, you have time to go back and work on these long and
difficult questions again, you can spend the time then. But, you do not want to
run out of time and not be able to answer the last few questions, which might be
very easy, because you spent a lot of time on a long and difficult question.
It is important to make a guess even if you dont know the answer or have time to
calculate the answer because there is no penalty for incorrect answers! If you
leave a question blank and run out of time at the end of the exam, you will miss
that question with 100% certainty. If you guess, you have a 25% chance of
getting the question correct. If you do that on 4 questions, then you will
statistically get one of them correct.
Why is one more correct answer important? Because for some people, that one
question is the difference between passing and failing. So no matter what, be
sure you choose an answer on every question, even if you have to guess.

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Making Quick Educated Guesses
Since every question is equal and there are no penalties for incorrect
answers, some words can help you eliminate some of the choices if you
are not certain of the answer.
It is important to answer every question on the CMA exam, even if you have to
guess. One reason for this is because there is no penalty for an incorrect answer.
However, rather than just randomly guessing, sometimes you can quickly narrow
your choices down to three or even only two possible answers. Having a 33% or
50% chance of getting the answer correct is better than 25%! Some words to
keep in mind as you make a quick educated guess are:

All
Always
Never
None
$0

While it is possible that such extreme words can be in the correct answer, you
can often quickly confirm or eliminate these choices. For example, even if you
dont know what situations a particular principle applies to, you might know that
choices with always or never are incorrect. On the other hand, there are some
situations where $0 might automatically be the correct answer.
When you are taking the exam, keeping these extreme words in mind may help
you quickly make an educated guess. However, even if you have no idea which
answer is correct, choose an answer on every question. It is better to have a
25% chance of being correct than a 0% chance!

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How is my CMA Exam Score Determined?
How the exam score is determined is not important. Your job is to
prepare properly and do so well on the exam that it does not matter how
your score is determined.
The two most common questions that CMA Candidates ask us about the exam
are How is my exam score determined? and What percent of the questions do
I need to get correct in order to pass? I will answer both of these questions, but
first we need to look at the structure of the exam.

CMA Exam Structure

Each Part of the CMA exam consists of 2 sections:
1)

100 multiple choice questions (MCQs) that are 75% of your final score.

2)

Two essay questions that are 25% of your final score. Each essay
question will be made up of smaller individual questions based on the
facts given, usually between 4 and 6, called Requirements.

A few notes about the exam questions:

Of the 100 MCQs, 10 of them are questions that are being evaluated by
the ICMA as possible future exam questions, and they are not included in
determining whether you pass or fail. This means that only 90 of the 100
questions are part of your exam score.

You need to get 50% of the MCQs correct to move on to the essay
questions, otherwise your exam will end immediately after completing the
MCQs and you have failed the exam.

How Your Exam is Created

When you take your exam, the computer selects your MCQs and essays out of a
large database of questions. This process ensures that everyones exam is
different. As you know from your studies, some MCQs are simple definitions and
others are more difficult, such as long calculation questions. Because of this, it is
possible that the exam that you get is slightly easier or slightly more difficult than
an average exam.
In order to address the varying difficulty of each exam, the ICMA assesses the
difficulty level of your exam compared to an exam of average difficulty. If your
exam is a little bit more difficult, you can miss a couple more questions than
someone whose exam is a little bit easier than average, and still pass. However,
it is important to remember that the difference between an easy and a difficult
exam is only a question or two.

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How is the Exam Graded?
Of the 90 questions that are graded on your exam, each question is weighted the
same, and you need to get 45 of them correct to go to the essays. It does not
matter if you get the 45 easiest questions correct or the 45 most difficult
questions correct each question counts as one correct question. You are not
penalized for wrong answers, so you should never leave a question unanswered.
If you do not know the answer and want to Mark the question and look at it later,
that is fine. However, before you mark the question, select an answer choice,
even if you have to guess. With a guess, you have a 25% chance of getting the
question correct. If you leave it unanswered, you have a 0% chance.
In grading the essays, you start each question with zero points. For every
individual step or calculation that you do correctly, you get some number of
points. Therefore, it is possible that you get 75% of the points for an essay
question even if you do not get the answer completely correct. Also, it is critical
that you show your work so you can get partial credit for anything that you did.
Finally, you should never leave any question completely blank you will get zero
points if you do that. If you write something, you have the chance to earn some
points.

How Your Result is Determined

Based on the difficulty of your exam, the number of questions that you got correct
in the MCQs, and number of points you received on the essays, you are given a
scaled score between 0 and 500. You need 360 to pass, however, a score of
360 does NOT translate to a 72%. It is simply a score and not a percentage of
anything.

What percentage do you need to pass?

You need to get at least 70% of the points overall between the MCQs and the
essays in order to pass. If you get 70% of the points, you will pass. If you get less
than 70%, you will pass only if your test was considered to be more difficult than
the average test. But, the best strategy is to aim for 75% of the points, and then
you do not need to worry about anything related to the difficulty of your exam,
scaled score, or that you may fail the exam because of one question.

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While Waiting for the Result Should I Start the Other Part?
If you think you did well, you should start preparing for the other part.
You want to keep studying while you are in that frame of mind.
After taking the exam, students frequently ask if they should start studying for the
next part right away, or if they need to wait for their results first. If you feel that
you did well on the exam, I suggest that you should start studying the next part,
and heres why:
1. Even if you do not pass, you will not have a lot to re-study, so you would
be able to re-study while you continue studying for the next Part.
2. Once you have studied for an exam, you are the habit of studying. If you
take more than a week or two off, it will be harder to start studying again
later than if you just continue studying without a long gap.
3. You will need to take all of the Parts eventually, so there is nothing to gain
by waiting.
If you leave the exam knowing that you failed or did poorly, then I recommend
you take a short break (no longer than a week) and start preparing to re-take that
same Part, and then you should retake that same Part as soon as possible.
During your break, you should also think about your study materials and try to
determine if your study materials contributed to your poor results. If there were
questions on the exam that you did not think that the material covered, or
covered poorly, then you might want to consider looking into other study
materials for your second attempt.
If you determine that you need some additional materials, here are some things
to keep in mind:

Most of the question banks are going to be very similar among all of the
providers because all providers should be using the same previously
released exam questions as the basis for their question bank. Therefore,
you normally should not purchase a second question bank.

If you have a textbook from one company, it might be a better investment

to purchase videos from another company instead of a second textbook. If
the videos cover the entire syllabus (like the HOCK Videos do), the Videos
will not only provide a different approach to some of the topics, but also
provide a different style of learning, which may be useful.

If you decide to purchase HOCK materials as additional materials, be

certain to take advantage of our Switch to Hock Discount. We know
materials are expensive and want to help you when you are purchasing a
second set of materials.

The time period after you take the exam and before you get your results is a
period of anxiety. But, you can use this time wisely by preparing to either take the
next exam, or prepare to retake the exam that you just took.
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