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Report about Revised CMA Part 4

Author.::.Mike

The fourth part is the summary of three previous ones. There isn't much new information and this part is quite simple (just for training your understanding and memory). That's why I concentrated on revising the material of the second and the third parts, which are the major. I supposed that the tasks I'd have to complete would refer to those themes, where it would be necessary to find some management decision based on theory. My supposition turned out to be true.

There were 6 tasks containing 2-3 questions and I had approximately 25-30 minutes for each task or 10 minutes for a question. There were two types of the tasks: calculating (75-80%) and theoretical (20-25%). The latter are quite simple, and there are good examples of them on IMA site. That's why it'll be better to concentrate on preparing for computational problems. I remember the following types (from those I had to solve):

1) cost of equity - CAPM and dividend growth model. Everything is very simple but I failed to remember the formulas (which are also quite simple). One should know them and basic presuppositions of models.

2) decision making, like special order, produce/outsource etc. They are typical from Decision Analysis program (part D)

3) investment analysis - NPV/IRR calculating + sensitivity analysis (here one should remember basic suppositions of analysis and the way cash flow (including tax effects of non-cash expenses (depreciation)) is counted.

Theoretical tasks were like that:
- ethics (part 4);
- strategical marketing (part 3, section 2);
- communication while setting budget/standard setting (part 4 and partially part 2).

It took me 3 months (from May till August) to prepare for this exam (just as for previous ones). I even didn't spare much time on it - I revised the textbooks and read additional literature (more for myself). Largely, textbook-revision could be enough. I took IMA Self-Study Course and was completely satisfied by this textbook (80-90% of material from it was included in the exam tasks).

I received my results in two months.

Posted by mazoo at November 15, 2005 3:18 PM

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Comments

Great. Congrats and thanks for your input. It is a great help to us. I was very worried on the part. So I hoe, I can relax a little bit on the exam, I suppose.
Warm regards
bala

Posted by: Bala at November 15, 2005 4:22 PM

Thank for for sharing the experience.

I would appreciate if you could please help for questions as follows.

1. Is it true that we will use KEYBOARD instead of MOUSE to pick right answers in the real test?

2. I heard Hock's software is designed like a simulation. Anybody knows how many questions it includes? Is it comparable to Gleim's CD?

Thanks a lot.

Wei

Posted by: wei at November 17, 2005 9:43 PM

Wei,
you can use keyboard or mouse or both to pick answers.
Unfortunately, Next and Previous buttons are only clickable by mouse.

Posted by: Mazoo at November 22, 2005 5:38 PM

Hi Mike. You're blogs are very helpful to me. Like you, I am challenging the CMA exam. I've passed Parts 1 and 2 already and currently reviewing for Part 3. Any suggestions for me? Appreciate if you could write me. (randibooh@yahoo.com) Thanks!-randy

Posted by: randy lim at November 24, 2005 10:37 AM

Hi folks!
1) Tanya's comments on mouse are correct.

2) It's not my weblog, Tanya is the only person to thank. I just share my experiences here... again with the help of the blog founder and main editor! So let me post my comments here so that everyone can see them instead of replying in person.

3) Randy, if any areas in part 3 seem to be especially worrisome let's try to specify them first.

4) Bala, please don't underestimate part 4. I have good economic education and this could have greatly helped me on the exam. You're to be solid in main management accounting areas of Part 2 and 3, and not miss out Part 4. Try maximum practice questions and problems, such as CMA or CPA adapted problems from good accounting textbooks. Try writing small essays on them instead of simple numerical answers. This exam will require both solving and reasoning skills in writing.

Best of luck to all of you on exams!
Mike

Posted by: Mike at December 5, 2005 8:12 PM

I just passed the Part 4. Wow!

I have passed the three parts of the revised CMA exam--Part 2, Part 3, Part 4 (with Part 1 waived) in three monthes--Sep-Nov while working full-time.

I am writing three not only to brag but also to say: if I can do it, you can do it. Commitment and Displine!

I also want to say thanks to this wonderful forum and especially to Mike. Thank you for sharing all this information.

All the best!

Leo

Posted by: Leo at January 13, 2006 11:09 PM

By the way, the scores of all three parts are above 600.

I can do it; you can do it.

Leo

Posted by: leo at January 14, 2006 12:30 AM

Congratulations Leo!
That's a real achievement. You ruined my imaginations about studying efficiency and effectiveness :) For me it's very motivating benchmark for futher studies.
Do you plan for another designation?
Mike

Posted by: Mike at January 20, 2006 5:32 PM

Mike, thanks.

I may consider FRM, CIA, depending on future career path.

You may also consider CFA or CPA.

Again, it depends on what you plan to do.

Take care!

Leo

Posted by: Leo at January 26, 2006 4:10 AM

Hi Mike/Leo,

I have passed my Part 2 & 3 in Dec and Jan but could not attempt Part 4 in February. Part 1 is exempted. I am not a great student of Economics. Do you think I should go through Part 1 study material? How much coverage we have from Part 1?
I am going thru Gleim's study material.

What should be the study plan for Part 4?

I will appreciate your feedback.

Thanks

Yash

Posted by: Yash at March 7, 2006 8:57 PM

dear everybody.....

thanks Tanyia for giving us the chance to discuss ideas...the idea of having this websiter is really great

Mike ...thank you for your tip...really useful...I have a question though is there a specific time when exams for part 4 are allowed or is it similar to the case of parts1, 2, and3?

Posted by: reem at March 13, 2006 11:50 AM

I passed part I old format successfuly,and waiting for the part II exam authorization to get examined,but all my friends have failed and i feel dejected and terrified because there is not much time to finish before the deadline of the old format and part II and III are the most difficult ones,any suggestions to help me studying partII?

Posted by: Mai at April 3, 2006 1:42 PM

Mai, don't waste your time and energy by worrying. Just study, study, study. You have passed part 1 already, you have every chance of being successful further. Join the students email exchange: http://www.imanet.org/ima/sec.asp?TRACKID=&CID=889&DID=1269
This exchange (listservs) and listservs' archives are very useful.

Good luck!

Posted by: Mazoo at April 3, 2006 3:34 PM

Hi,

Can anybody please answer Yash's question above.

Thanks

Posted by: Manish at August 22, 2006 3:44 PM

There are lots of OB things for Part 4. How do you prepare them? I found it more difficult than those quantatative problems.

Posted by: Robert at January 14, 2007 12:02 PM

When I left the room after completing CMA part 4 (revised) I really wasn't sure whether I passed. I felt as thought I answered the questions, although I was unsure as to whether the level of detail in my answers was adequate. However, I wrote until I reached the budgeted amount of time and then I moved on.

I am happy to say that I have now passed all 4 parts of the revised exam. I passed the last 3 parts (2,3,4) within a 60-day span so if I can do it anyone can!

I used gleim and I highly recommend.

Posted by: Joe at April 17, 2007 7:40 PM

I took the CMA part 4 two times and I failed. Ther first time I took the exam, I was only able to answer 6 of the 7 major questions during the budgeted time. For those 6 questions I had a score of 460 points which represents a score of 80% on the questions I answered. The second time I took the exam my objective was to try to answer all the questions which I did but I only score 410 points. There wer several questions I had marked to revisit and expand on my answer but I did not had the time to do it. I plan to take the exam for the 3rd and last time in August. Besides of course, reviewing the material, do you have any tips/suggestions/recommendation that would help me address these questions quicker. English is not my first language and this might be part of th problem but I hope not all of it. Thank you in advance for the help.
Jean-Marie

Posted by: Jean-Marie at May 4, 2007 8:02 PM

Hi to all of u, congratulations for all who passed :)
i have a question 4 those who passes part 4 please, i sat for the exam today, it wasnt difficult, actually it was easy, but there was not enough time ! :( i had 6 scenarios with 25 questions, but with the time i had, i could only answer 5 scenarios and left one big scenario with 6 questions :(:(:( .... so my questions is if anyone knows how the grading is in part 4! and if my answers were 85% right (assuming of course) for the 5 scenarios would i still be able to succeed??? im dying to know :( please advise :)

thnx alot
Mona

Posted by: muna at May 27, 2007 4:25 PM

i hate part 4 i have to wait until mid of July to see my mark ,i am dying too , but no my one wasn't easy , i have two strange computational questions, but mona i think if your answers were 85% correct i think you will succeed ,since i know someone who answer 80% of 5 scenarios and he missed a scenario like you and he got 470 so i think you are too close to succeed , but in the beginning of the exam they tell you how much the mark for each question so if you remember it would be better,

Posted by: firas at June 11, 2007 12:36 AM

I cannot open the link of students email exchange posted by Mai in April. Could anybody know how to access that website? Thanks.

Posted by: allisp at June 14, 2007 12:47 AM

I passed parts 1,2, and 3 this Summer and am anxious to take and hopefully pass part 4.

Like all of you I am worried about taking the 4th part and doubt I will be able to pass the first time. It seems time budgeting is the main problem,

so I would suggest everyone answer every question even if your answers kind of suck.

Good luck everyone and good luck Mike. I'm sure we can all do it!

Posted by: Howard at October 10, 2007 10:00 PM

hey guys,

now i passed part 1 and 2 (old format) and now i won't really be able to proceed with the old exam,Mike thanks for your encouragement;however my fears of the deadline defeated me:((

do you think i shall go for the revised exam(especially i passed part 1 and 2) or shall i go for CPA or MBA?
knowing that i am not an auditor i am an accountant but i do feel that people cherish CPAs more than CMAs,any recommendations??

Posted by: Mai at October 13, 2007 12:07 AM

Hi All,

After taking part 4 for the third time, I finally passed. My scores were 480, 420, and 560 the first, second, and third times, respectively. Many of the previous comments convey the idea that the test is "easy". The "if I can pass, you can pass" notion is garbage. Do not under estimate the test and don't try to seek bragging rights by cramming. I found this to be the most difficult part of the CMA exam. I also found it to be harder than anything I faced on the Ohio CPA exam.

I do have one tip that really helped me the final time I took the exam; do not try to explain how you arrived at an answer. The answer you type is either right or wrong. If it is wrong, don't try to get partial credit by explaining your methodology. Just move on to the next question. If you don't, you will run out of time.

To all you test takers, good luck and do not under estimate it!

Tom

Posted by: Tom at October 26, 2007 7:03 PM

I just took the 4th (revised) exam and had a question.

How do you go about showing your work without a excel spreadsheet?!

This was the most frustrating format I could possibly imagine for a standardized test. I was under the impression i would have some sort of table to input my caculations and there was none....mind you its a text box (just like the one i am typing in) with no 'Tab' functionality.

I just wish I would have known.

Anybody have a strategy for overcoming this or am i missing something?

Posted by: L at November 29, 2007 8:03 PM

Dear all,

I will set for CMA exam part2 next month, Im worry about it Im just study IMA material, I took 4 months to prepare for it, how I can prepare adequatly for it>? please give me an advice.

regards,
Ahmed

Posted by: Ahmed at February 22, 2008 4:22 PM

hi all
can anyone tell me whether part4 is a computer based or handwriting based exam.
thank u

Posted by: Mohamed at March 30, 2008 10:42 PM

hi all
can anyone tell me whether part4 is a computer based or handwriting based exam.
thank u

Posted by: Mohamed at March 30, 2008 10:43 PM

hi all
can anyone tell me whether part4 is a computer based or handwriting based exam.
thank u

Posted by: Mohamed at March 30, 2008 10:44 PM

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