To ensure success on the CMA USA exam in 2024, study materials must be carefully selected. The following is a list of the top 5 CMA books and study resources that cater to different learning styles and preferences.
Before delving into these recommended resources, it’s important to review the CMA USA exam syllabus and subject percentage breakdown.
Part 1: Financial Planning, Performance, and Analytics
- External Financial Reporting Decisions: 15%
- Planning, Budgeting, and Forecasting: 20%
- Performance Management: 20%
- Cost Management: 15%
- Internal Controls: 15%
- Technology and Analytics: 15%
Part 2: Strategic Financial Management
- Financial Statement Analysis: 20%
- Corporate Finance: 20%
- Decision Analysis: 25%
- Risk Management: 10%
- Investment Decision: 10%
- Professional Ethics: 15%
It’s important to note that the Institute of Management Accountants (IMA), which administers the CMA USA exam, does not provide its own study materials. As a result, candidates frequently turn to third-party companies for verified study materials, with popular brands including Becker, Wiley, Hock, Gleim, and other reputable providers. Each of these options has advantages and disadvantages, making it difficult to choose the appropriate study material.
For help making this decision, iProledge suggests considering the following options to ensure you select the best study materials for your CMA USA exam preparation in 2024:
1. Becker US CMA Review System
- Reputation: Becker has a strong reputation in the accounting education sector, particularly for its CPA study materials. The company’s long history in the industry demonstrates the established expertise and quality of its educational resources.
- One-on-One Tutoring: Becker sets itself apart by providing one-on-one tutoring, which is an invaluable resource for candidates looking for personalized assistance or guidance on specific questions. This personalized support helps to improve comprehension and strategic planning for exam preparation.
- Live Webinars: Becker’s use of live webinars allows candidates to interact with instructors and peers. This dynamic learning environment encourages a deeper understanding of the study material, resulting in more effective learning and collaboration.
- New CMA Materials: CMA study materials have recently entered the market. This implies that they may not have a long track record of success when compared to providers who have a longer history of providing CMA study resources.
- Limited Track Record: Due to the ongoing development of their CMA materials, previous candidates may have provided limited feedback or reviews. The lack of historical data can make it difficult for candidates to assess the effectiveness and reliability of these materials.
- Cost: Becker’s CMA Review System costs more than some other options. This higher cost may deter certain candidates, particularly those on a tight budget.
The Becker US CMA Review System leverages the Becker brand’s strong reputation in accounting education to provide personalized support through one-on-one tutoring and live webinars. However, given the newness of their CMA materials and the higher cost, some candidates may be hesitant to select this option. Candidates must carefully consider these advantages and disadvantages to determine whether Becker’s CMA materials meet their specific requirements and preferences.
2. Wiley US CMA Review System
- Detailed and Comprehensive Study Material: Wiley’s CMA Review System is widely recognized for providing in-depth and comprehensive study material. This makes it an excellent choice for candidates who prefer self-study and seek a thorough understanding of the CMA exam topics.
- Clear and Understandable Language: Wiley adopts a straightforward and easy-to-understand language in its study materials. This feature is particularly advantageous for individuals who may be unfamiliar with finance and management concepts, as it simplifies the learning process.
- Questionnaires, Performance Tracker, and Study Planner: Wiley’s study package goes beyond the core materials by including valuable supplementary tools such as questionnaires, a performance tracker, and a study planner. These resources aid candidates in assessing their progress, pinpointing areas for improvement, and structuring their study schedule effectively.
- Wiley’s Predictive Scoring Technique: The incorporation of Wiley’s predictive scoring technique adds an extra layer of confidence to candidates in their preparation. This feature helps candidates evaluate their readiness for the exam and identify specific areas that may require additional focus.
- Relatively Expensive: One of the main drawbacks of Wiley’s CMA Review System is the high price. Wiley’s materials can be quite expensive when compared to other CMA study material providers, which may put off budget-conscious candidates.
The Wiley US CMA Review System is praised for its extensive study material and clear language, making it a top choice for self-preparers, particularly those who are unfamiliar with finance and management concepts. Furthermore, supplementary resources such as questionnaires, a performance tracker, and a study planner can improve the overall learning experience. The relatively high cost of Wiley’s study materials, on the other hand, may make them less accessible to some candidates. As a result, prospective CMA candidates should carefully weigh these pros and cons to determine whether Wiley’s CMA Review System aligns with their learning preferences and budget.
3. Hock US CMA Study Material
- Popularity and Comprehensive Study Material: Hock’s CMA study material enjoys widespread popularity and acclaim among CMA candidates. Renowned for its comprehensive content, Hock’s materials are particularly valued by those seeking an in-depth understanding of the relevant topics, making it a favorable choice for thorough exam preparation.
- Compact Knowledge: Hock’s study materials are characterized by concise and compact knowledge delivery, catering to candidates who prefer a focused and efficient study approach. The streamlined presentation of information facilitates a clear and direct learning process.
- Competitive Pricing: Hock’s CMA study materials stand out for their reasonable pricing compared to other options in the market. This affordability makes it an attractive option for candidates working within budget constraints, offering high-quality materials without a hefty financial burden.
- “You Pass or We Pay Guarantee”: Hock distinguishes itself with the “You Pass or We Pay Guarantee,” providing an extra layer of assurance to candidates. This unique guarantee means that if a candidate uses Hock’s study materials and does not pass the CMA exam, Hock will reimburse them for the next attempt. This guarantee can instill confidence and peace of mind in candidates.
- Practice Questions and Mock Tests: Some candidates have expressed concerns that Hock’s study materials may lack a sufficient number of practice questions and mock tests. A comprehensive set of practice questions is crucial for effective exam preparation, as it reinforces learning and allows candidates to evaluate their readiness for the actual exam.
- Fewer Test Banks: Hock’s study materials may be noted for having fewer test banks compared to some of their competitors. Access to a diverse range of test banks is beneficial for candidates, enabling them to practice and familiarize themselves with different question types and difficulty levels. Having a variety of test banks enhances the adaptability of candidates to the challenges presented in the actual exam.
Hock’s US CMA Study Material is well-known for its extensive content, affordable prices, and unique “You Pass or We Pay Guarantee.” It also conveys information in a concise and focused manner. However, when compared to other CMA study material providers, some candidates may find a lack of practice questions and test banks. Candidates should carefully consider these benefits and drawbacks to determine whether Hock’s study materials are appropriate for their specific study preferences and requirements.
4. Surgent US CMA Review System
- Adaptive Technology: Surgent’s CMA review system includes adaptive technology, which assesses a student’s performance on practice questions and mock exams. This technology identifies a student’s weak points and tailors study materials and questions to those areas. This personalized approach is extremely effective at maximizing study time and assisting students in improving their comprehension and performance in specific subject areas.
- Additional Practice Questions: Surgent goes above and beyond by providing students with additional sets of practice questions to help them prepare. These supplementary questions are important for reinforcing learning and helping students gain confidence in addressing a wide range of topics.
- Focus on Improvement: Surgent highlights guiding students to better understanding and performance. The system not only provides content, but it also monitors and adjusts to a student’s progress. This approach is especially beneficial for people who want to continuously improve their knowledge and skills as they prepare for the CMA exam.
- Lacks Trial Class Support: It should be noted that Surgent’s CMA Review System may not provide a trial class or sample lesson, denying prospective students the opportunity to assess the teaching style and materials before making a commitment. The lack of a trial class option can be a disadvantage for people who want to learn more about the content and teaching methods ahead of time.
- No Live Class Facilities: Surgent stands out from other CMA review providers in that it does not provide live class facilities or live instruction. Candidates who value real-time interaction with instructors and fellow students for discussions and clarifications may benefit from live classes, which Surgent does not offer.
Surgent’s US CMA Review System distinguishes itself by utilizing adaptive technology to identify and address weak areas, providing additional practice questions to supplement preparation, and emphasizing overall understanding and performance. Surgent may not offer a trial class for potential students to try out their teaching style, and they do not provide live class facilities, which may be a factor for those who prefer live interactions during their preparation. As with any CMA review system, candidates must weigh the benefits and drawbacks to determine whether Surgent meets their specific requirements and preferences.
5. Gleim USA CMA Study Material
- Long-standing Reputation: Gleim boasts a well- Structured reputation and a lengthy track record of providing study materials for CMA candidates. Many individuals trust Gleim due to its extensive experience in CMA exam preparation.
- Affordability: Gleim stands out for offering study materials at a budget-friendly cost, ensuring accessibility for a diverse range of candidates, including those operating within financial constraints.
- Comprehensive Test Bank: Gleim’s CMA Review System features a substantial test bank comprising 4,500 multiple-choice questions. This extensive question database provides candidates with ample opportunities to practice and reinforce their knowledge as they prepare for the exam.
- Additional Study Resources: Gleim surpasses the basics by offering a range of supplementary study resources, including full-length mock exams, study planners, audio lectures, videos, and digital flashcards. These additional resources contribute to a well-rounded study experience, providing candidates with diverse study aids to enhance their exam preparation.
- No Live Classes: The Gleim CMA Review System does not include live classes or instructor support. This means that candidates will primarily rely on self-study and may not have the opportunity to interact in real-time with instructors or fellow students.
- Assumes Prior Knowledge: Gleim’s materials are frequently geared toward candidates who already have a foundational understanding of finance and accounting concepts. As a result, they may not be as helpful to beginners or those who require more detailed explanations.
Gleim is a well-known and reasonably priced option for CMA exam preparation. It includes a large test bank as well as a number of additional resources. However, it lacks live classes and may be better suited for intermediate to advanced learners with some prior knowledge of finance and accounting concepts. When deciding whether Gleim is the right choice for CMA exam preparation, candidates should consider their familiarity with the subject matter as well as their preference for live instruction.
Finally, choosing the right CMA study materials is critical for exam success. When selecting from the top five options, keep your learning style and budget in mind. Each resource has its own set of advantages and disadvantages, so choose the one that best meets your specific requirements and preferences. Best wishes for your CMA USA exam preparation in 2024!
1. Is third-party study material necessary for the CMA USA exam due to IMA’s lack of provided materials?
While the IMA does not provide study materials, it is critical to select from trusted third-party providers who offer verified study resources. These companies provide comprehensive study materials that are tailored to the CMA syllabus.
How do I determine the right study material for my CMA USA exam preparation in 2024?
Your decision should be guided by your learning style and budget. Consider whether you prefer self-paced learning or more interactive options such as live webinars. Additionally, evaluate the clarity of the content and its suitability for your level of prior knowledge in finance and management.
Are there any affordable CMA USA study materials available?
Yes, some study materials, such as Gleim, are reasonably priced and include comprehensive test banks. However, keep in mind that some low-cost options may require prior finance knowledge, so ensure it aligns with your skill level.
What is the “You Pass or We Pay Guarantee” mentioned in the Hock US CMA Study Material?
The “You Pass or We Pay Guarantee” is Hock’s commitment to offering a refund or free access to their materials if you fail the CMA exam while using their resources. Hock provides this assurance to boost candidates’ confidence.
Which CMA study material is best for beginners without prior finance or management knowledge?
Wiley’s US CMA Review System is recommended for beginners because it uses clear and easy-to-understand language, making it an excellent choice for those with little to no prior knowledge in finance or management. It also provides various tools to help you learn the fundamentals.
What is the Best choice for the USA CMA exam?
Gleim Study Material is highly favored by many US CMA candidates due to its comprehensive content, affordability, and a wide range of practice resources, including past papers, sample questions, and demo test papers.
How can I prepare for the US CMA?
Preparing for the US CMA exam, known for its difficulty, requires a solid foundation in finance, accounting, and management. It typically takes around 90 hours of study. Start by mastering fundamental concepts, then practice with mock exams to reinforce your understanding. Online platforms such as iProledge offer valuable support and guidance to help you prepare.
Is self-studying for the US CMA feasible?
Yes, it is possible to prepare for the CMA in the United States on your own. It requires a solid background in finance, accounting, and management. A well-organized study schedule and plan can help you navigate the exams successfully. Enrolling in an online US CMA course can enhance your preparation by providing access to tailored study materials, live lectures, and mentorship opportunities.