Doctoral students can sit for CMA/CFM exams for free!

Discussion in 'General Distance Learning Discussions' started by edowave, Mar 18, 2007.

  1. edowave

    edowave Active Member

    Just another little tidbit of information I thought might be useful for someone:

    From :

    "Full-time faculty members teaching at accredited U.S., Canadian, and Mexican universities are permitted to take each of the five examination parts once at no charge. The fee for any parts that must be retaken is 50% of the normal fee. The $75 credentialing fee is no longer waived. To qualify, a faculty member must submit a letter on school stationary affirming his/her full-time status. Faculty should sit for the CMA/CFM examinations because a professor's status as a CMA/CFM encourages students to enter the program. Full-time doctoral students who plan to pursue a teaching career are treated as faculty members for purposes of qualifying for the free examination. "

    Would this offer still hold for DL DBA/PhD students (since it says full-time)? Online adjuncts? I don't know, but it might be worth a shot asking your school/committee chair for a letter. Seems like the IMA wants to promote the importance of the CFM/CMA designation.... Anyone out there try this? Anyone here a CMA?
  2. Andy Borchers

    Andy Borchers New Member

    No - but I'm very interested - thanks for posting.

    Regards - Andy

  3. AuditGuy

    AuditGuy Member

    I am a CMA / CFM but took them the old fashioned way.

    Another thing to consider is that the CFM is being discontinued as of 12/31/07. Below is a link to the announcement page.
  4. AuditGuy

    AuditGuy Member

    I think I misquoted a little

    "Those who are currently CMAs and those who are currently enrolled in the CFM program, will continue to have the opportunity to take the CFM examination until December 31, 2007. New enrollees who are not yet CMAs will be accepted into the CFM program until December 31, 2006 and will also have until the end of 2007 to take the CFM examination. "
  5. mhanrahan

    mhanrahan New Member

    Anyone here a CMA?

    I was a CMA until I decided not to renew my membership in the IMA.

    I am glad to hear they are getting rid of the CFM program - it took resources away from the CMA. If you want a designation close to the CFM, but worth more, I would consider getting the CMA and a CFA (Chartered Financial Analyst) (

    Here is what the CFM body of knowledge covers:

    With the IMA no longer offering the CFM, I question whether it is worth the effort to obtain. The CMA is hard enough to promote as being better for corporate America than a CPA, and they still offer it. The CFM may fall into relative obscurity over the next 10 years.

  6. friartuck

    friartuck New Member

    I'm also an inactive CMA. I didn't see the worth in keeping up the credential in my current job. Also, I was disappointed in the way the IMA failed to promote the designation. It seemed to be more well known in 1983 when I received the certificate. I don't have the stats anymore but I remember that they made the exam easier. From what I recall in the early 80's each part pass rate was anywhere from 20-50%. I think the pass rates were lots higher as the years went by. I didn't like the bait and switch either, at one time you could be a CMA by paying the $25 annual dues, then they essentially made you join the National Association of Accountants with a +$100 a year annual fee. So I paid more for a credential which I perceived was worth less. I also didn't agree letting CPA's have professional recognition credit. I know the reason was to expand the program, but the AICPA doesn't reciprocate. It seems to shout that the CMA designation is second rate.

    All in all though at the time I thought it was a good exercise, I learned alot and it did get me in the door for quite a few job interviews in industry.

    I agree that if people are qualified and motivated in the finance area to go for the CFA. I think the CFM had nearly zero value in the finance industry. I recall it being savaged to some extent at
  7. AuditGuy

    AuditGuy Member

    The CFM never had any value to me that I was aware of, but I was exempt from 3 of the 4 portions, so why not?

    I've always felt I've retained more useful job skills from the CMA than the CPA, such as analytical, decision making, and other good life long skills. I too am disappointed in the IMA promotion of it though.

  8. friartuck

    friartuck New Member

    I hear you Audit Guy. I was going to take the CFM part 2 exam just for the experience. I thought it would be good review before taking MBA finance class. I even got the Gleim book. Then they discontinued it so I figured the heck with it.

    The other thing was the continuing education requirements. I just didn't feel like doing it. However, when I get the masters and start going for adjunct positions, I'm going to reinstate.

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