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The CMA Exam is a crucial step for anyone aiming to become a certified Cost and Management Accountant in India, but navigating the details can be confusing. From eligibility and course structure to fees, registration, and salary prospects, important information is often scattered or unclear. This blog provides a structured, up-to-date guide to help you understand every aspect of the CMA Exam in 2025. If you’re planning to apply, you’ll find everything you need, so you can make informed decisions about your career path with confidence.
Contents
CMA Exam: Quick Highlights
| Topic | Key Details (2025) |
| Full Form | Cost and Management Accounting |
| Conducting Body | The Institute of Cost Accountants of India (ICMAI) |
| Levels | Foundation, Intermediate, Final |
| Eligibility (Foundation) | Passed Class 10 + Class 12 |
| Eligibility (Intermediate) | Graduation or Foundation pass |
| Total Duration | 2.5 to 3 years (including training) |
| Registration Fee (Total) | ₹6,000 – ₹25,000 per level |
| Exam Mode | Offline (pen and paper) |
| Official website | https://icmai.in/ |
What Is the CMA Exam?
The CMA exam qualifies candidates as Cost and Management Accountants, professionals who specialize in financial planning, cost control, budgeting, and performance evaluation across industries. The exam is conducted twice a year, in June and December, and is divided into three levels:
- Foundation Level: For beginners, covering basics like Economics, Accounting, Business Law, and Mathematics.
- Intermediate Level: Includes subjects like Cost Accounting, Financial Management, Direct and Indirect Taxation, and Corporate Accounting.
- Final Level: Focuses on Strategic Management, Corporate Financial Reporting, Cost Audit, and related advanced topics.
The Foundation exam is objective (MCQs), while the Intermediate and Final exams are descriptive. All levels are conducted in offline mode at designated exam centres across India.
Also Read: CA Subjects
CMA Exam 2025: Important Dates and Schedule
This exam is held twice a year for all three levels: Foundation, Intermediate, and Final. Get a quick look at the important dates for the June 2025 cycle so you don’t miss anything.
| Event | Foundation | Intermediate & Final |
| Exam Dates | June 14, 2025 (10 AM–12 PM & 2–4 PM) | June 11–18, 2025 (2 PM–5 PM for Intermediate; 10 AM–1 PM for Final) |
| Exam Form Deadline (without late fee) | April 15, 2025 | April 10, 2025 |
| Late Form Submission (₹500 extra) | April 16–22, 2025 | April 11–17, 2025 |
| Admit Card Release | Last week of May 2025 | Last week of May 2025 |
| Result Date | July 8, 2025 (Foundation) | August 11, 2025 (Intermediate & Final) |
Eligibility Criteria
Eligibility for this exam depends on the level you’re applying for, and here is the breakdown of who can apply at each stage:
Foundation Level
You’re eligible for the CMA Foundation exam if you’ve passed Class 10 and Class 12 from a recognized board. Students who’ve completed a recognized diploma in commerce or passed the Rural Service Examination can also apply. If you’ve already passed the CA or CS Foundation course, you may get direct entry to Intermediate.
Intermediate Level
To apply for CMA Intermediate, you must have either:
- Passed the CMA Foundation exam
- Completed a graduation degree (excluding fine arts)
- Passed the CA Foundation or CS Foundation exams
Even 2nd-year engineering students may apply provisionally.
Final Level
For the CMA Final exam, you must have cleared both groups of the Intermediate exam. You also need to complete at least 15 months of practical training to qualify for full CMA membership, although you can appear for the Final exam while still undergoing training. There’s no age limit for any level. Overseas candidates (e.g., from Dubai, Bahrain, Muscat) can also apply under international exam centres.
Also Read: Career in Finance: Cracking the Code to Success
CMA Syllabus and Subjects
The CMA syllabus is divided across three levels, and each is designed to build progressively advanced skills in cost and financial management.
Foundation Level (4 Papers, MCQ, 100 Marks Each)
| Paper | Subject |
| 1 | Fundamentals of Economics & Management |
| 2 | Fundamentals of Financial & Cost Accounting |
| 3 | Fundamentals of Business Mathematics & Statistics |
| 4 | Fundamentals of Business Laws & Business Communication |
- Duration: 2 hours per paper
- Type of Questions: Objective MCQs only
Intermediate Level (8 Papers, Group I & II; Descriptive + MCQ)
| Group | Papers & Subjects |
| Group I | 5: Business Laws & Ethics6: Financial Accounting7: Direct & Indirect Taxation8: Cost Accounting |
| Group II | 9: Operations Management & Strategic Management10: Corporate Accounting & Auditing11: Financial Management & Business Data Analytics12: Management Accounting |
- Duration: 3 hours per paper
- Passing Criteria: 40% in each, 50% aggregate per group
Final Level (8 Papers, Group III & IV; Descriptive + MCQ)
| Group | Papers & Subjects |
| Group III | 13: Corporate & Economic Laws14: Strategic Financial Management15: Strategic Cost Management16: Direct Tax Laws & International Taxation |
| Group IV | 17: Cost & Management Audit18: Corporate Financial Reporting19: Indirect Tax Laws & Practice20: Elective – Choose one from Strategic Performance Management & Business Valuation, Risk Management in Banking & Insurance, or Entrepreneurship & Start‑Up |
- Duration: 3 hours per paper
- Passing Criteria: 40% in each, 50% aggregate per group
Also Read: CFP: Certified Financial Planner Course
CMA Exam Form and Registration Process 2025
This section shows you exactly how to register for the exam and everything about the fees, deadlines, required documents, and application details, so you don’t end up lost in the portal.
Overview (June & December 2025)
- Registration for the June session typically opens in early 2025, with last-date cutoffs:
- Foundation: January 31
- Intermediate/Final: January 31
- Foundation: January 31
- If you miss it, late registration (with ₹500 late fee) runs in early April.
Registration Timeline & Fees
| Level | Registration Deadline | Late Registration Window | Fee (₹) |
| Foundation | Jan 31, 2025 | Feb 1–10, 2025 | 6,000 |
| Intermediate | Jan 31, 2025 | Feb 1–10, 2025 | 23,100 |
| Final | Jan 31, 2025 | Feb 1–10, 2025 | 25,000 |
How to Register (Online or Postal)
- Visit ICMAI’s official Student Registration Portal.
- Create a login account (new) or sign in (existing).
- Validate eligibility based on level and upload required documents:
- Matriculation and/or 10+2 certificate (for Foundation)
- Graduation or eligible Foundation certificate (for Intermediate/Final)
- Three passport-size photographs and attestations.
- Matriculation and/or 10+2 certificate (for Foundation)
- Choose oral (online) or postal mode.
- Make registration fee payment (full or installment option available).
- Save your receipt and login credentials for tracking.
Exam Form Submission
- After registration, exam forms open in first week of April for the June session.
- You must fill the exam form separately by mid-April (without penalty) or by late April (with ₹500 late fee).
Validity & De Novo Option
- Registration is valid for 7 years.
- If you don’t clear a level within this window, you can re-register through the De Novo process (₹5,000 re-registration fee).
Note:
- Admit cards are issued in late May each exam term.
- All levels are offline and centre-based.
- Exam forms, admit card download, and application status are tracked via your ICMAI student account.
Also Read: 15+ Future Courses to Study Abroad for Commerce Students
Fees and Course Duration
Wanna know what it costs to pursue the CMA qualification in 2025 and how long each level takes to complete if cleared in one go? Here you go!
CMA Exam Fees 2025
| Level | Registration Fee | Exam Form Fee (India) | Total (Approx.) |
| Foundation | ₹6,000 | ₹1,500 | ₹7,500 |
| Intermediate | ₹23,100 | ₹1,500 (single group) / ₹2,400 (both groups) | ₹24,600 – ₹25,500 |
| Final | ₹25,000 | ₹1,800 (single group) / ₹3,200 (both groups) | ₹26,800 – ₹28,200 |
- Exam form fees are separate from registration.
- Fee structure may vary slightly for overseas students, depending on exam centres and currency conversion.
Course Duration Overview
| Entry Route | Estimated Duration |
| After 12th (starts from Foundation) | Foundation: 6–8 monthsIntermediate: 8–10 monthsFinal: 10–12 months + Training |
| After Graduation (direct to Intermediate) | Intermediate: 8–10 monthsFinal: 10–12 months + Training |
- Practical training of 15 months is mandatory for CMA membership.
- The total duration includes training but assumes timely clearing of each level in first attempt.
Also Read: WIP CSEET Exam
CMA Exam Results and Cutoff Dates
Check how and when results are released, and what the passing criteria are, so you know exactly what you need to move ahead in your CMA journey.
| Exam Level | Result Date | Cutoff Criteria (Passing Marks) |
| Foundation | July 8, 2025 | Minimum 40% in each paper, 50% aggregate |
| Intermediate & Final | August 11, 2025 | Same: 40% per subject, 50% aggregate |
Also Read: ICSI Exam 2025: A Student’s Guide
Career Scope and Salary after CMA Exam
Once you clear the exam and complete practical training, you qualify to work as a Cost and Management Accountant in industries like manufacturing, finance, PSUs, consulting, and large corporations. CMAs help organizations with budgeting, forecasting, cost control, audits, and decision support.
| Job Role | Salary Range (₹ per annum) |
| Cost Accountant (with 2+ yrs exp) | ₹8 – ₹12 LPA |
| Financial Analyst / FP&A Specialist | ₹10 – ₹18 LPA |
| Management Accountant | ₹9 – ₹16 LPA |
| Internal Auditor (CMA + GST Expertise) | ₹10 – ₹15 LPA |
| Strategic Finance Manager | ₹15 – ₹25 LPA |
| Corporate Controller / Cost Controller | ₹14 – ₹22 LPA |
| Finance Business Partner (MNC/PSU) | ₹12 – ₹20 LPA |
| CFO (in SMEs/startups with CMA+exp) | ₹25 – ₹35 LPA+ |
Also Read: CPT Exam 2025: Date, Syllabus, Exam Pattern, Fees
FAQs
The CMA exam is for students who want to become Cost and Management Accountants in India. It tests your knowledge of cost control, financial planning, auditing, and management strategies.
CMA is challenging, but many students find CA more difficult due to its wider syllabus and lower pass rates. That said, CMA requires solid preparation and can’t be taken lightly.
It’s not exactly easy, but it’s definitely manageable with consistent study. Clearing in the first attempt is possible if you stick to the syllabus and practice properly.
Yes, CMAs earn well. Starting salaries range from ₹4 to ₹8 LPA, and can go up to ₹20–25 LPA with experience. Your salary depends on your skills, attempts, and the sector you work in.
This was all about the CMA Exam, its structure, syllabus, fees, deadlines, and what career scope it holds for you in 2025. For more such detailed insights on exams, career paths, and professional courses, make sure to scroll through Leverage Edu and stay informed!
