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Revised CMA Part 3 - passed!
Last Tuesday I passed Revised CMA part 3 exam “Strategic Management” with a score of 540.
I began the serious preparation in the middle of May, so it took more than two months. The understanding of concepts did not seem difficult to me, since some concepts were partially covered in part 1 “Business Analysis” and part 2 “Management Accounting and Reporting” materials (planning, bonds, ratios, etc.), and the Hock textbook presents the theory in a very clear way, as usual.
For the purpose of time saving during the preparation, I did not give much attention to the real options (only several pages that were in the Hock materials) and the calculation of covariance, hoping for only general questions on these topics.
While initially it seemed that third exam wouldn’t be very difficult, I read a lot of messages from IMA email exchange that part 3 “Strategic Management” of the Revised exam was the hardest... and it definitely was. So I was warned and decided to focus on trying to make calculations more accurate and faster, and better understanding the concepts. This exam became a real challenge for me.
At first, I was faced with the time shortage again. I spent too much time on text questions, the most part of which were very tricky. When I answered all questions, I only have 10 minutes left.
Secondly, I marked near the 30 questions, so I wasn’t sure that one third of my answers were correct.
Thirdly, I got 7–10 questions about the real options and the calculation of covariance . The guessing in the latter was especially annoying because I think that these questions were very simple.
Honestly, when the last seconds of the exam were gone and I stared at the waving (as usual for Prometric) white screen, I was sure I failed. And when, after the long dramatic pause I received the congratulatory message, I was happy. 540 scores are not the brilliant result, but I passed and it is good!
The suggestions I would make are as follows:
1. If you need to learn the concepts before taking the exam – use Hock materials. If you really know the material and just need to refresh memory – use Gleim review, which includes much more materials and details, but less clear explanations than Hock. If you use Hock materials, be sure that you understand all topics, because Hock provides you with not only sufficient but also necessary information.
2. I used Gleim software. As usual, Gleim test prep has a lot of sly, complex and not aligned with LOS questions. I think that this is very good, since it prepares you for unexpected questions on the exam.
3. IMA Q&A books. These questions are highly representative of what you will see on the exam. But the average book question is more short and simplistic than the average exam question.
4. For better time management I answered all the text question first, then the short computational questions and 5 long computational questions for last. The good timing is very important.
That’s my report.
Posted by mazoo at August 4, 2006 6:47 PM
Related posts:
Revised CMA Part 2 - passed! Sep 23, 2005Comments
congrats on passing!
hah I actually had the same score as you did
did you find Hock didn't cover some areas in strategic management and marketing?
Posted by: Tim at August 4, 2006 8:51 PM
Yes, I met several questions that were unfamiliar, particularly in strategic marketing. Since, I found such questions in Gleim test software and Q&A book, I found related information in the internet. For example, I remember the questions about stars, cash cows, dogs, etc. (BCG Growth Share Matrix). In the foreword to the Section B – Strategic Marketing, Hock authors said that "because Strategic Planning and Strategic Marketing are subjects that have been added recently to the Exam, it is impossible to ensure that we have covered every topic that you may encounter, even though we have attempted to address all areas listed in LOS". So, I don’t see any problem in that. And I am sure, that these materials will be constantly amended with the new information.
Posted by: Mazoo at August 9, 2006 1:40 PM
Congrats! I passed Part 3 also with 540. When will you take the final part 4?
Good Luck
York
Posted by: YORK at August 12, 2006 12:48 AM
What a magic score! :-)
I am not sure about November, may be in February.
And what is your plan about part 4, or you are a CMA already?
Posted by: Mazoo at August 14, 2006 2:50 PM
Mazoo,
I plan to take Part 4 in November. Are you studying Part 4 now? Would you mind letting me know your email address so we can communicate and motivate each other.
Thanks
York
Posted by: York at September 22, 2006 12:04 AM
thank u Mazoo s for illustrate this things for me , i prepared my self for part 3 exam ,just with IMA books , Questions and Answers , and i will take your recommendations at full , thank u
Posted by: ahmed at October 9, 2006 1:11 AM
Hi Mazoo,
I registered with IMA today and wat to go for CMA certification.just need some guidane from you regarding the exams.how tough is the exam? are all the multiple choice questions for part 1,2 and 3 are just multiple choice or there are problems which needs to be solved with formulas and lenghty calculations?
also i need to know which study material gives the details for solving the problems and makes us better understand the calculation methods.
thanks.
Posted by: Nayeem at November 6, 2006 4:52 PM
I have passed Part 3 in last week of Dec 06,
now i want to take Part 2 in First week of Feb 07.
Can any one tell me which portion is more problematic.
Posted by: Mahendra at January 4, 2007 2:24 PM
Hi
Mazoo,
Is any one used Gliem Test CD. i activated in home PC but i want to install in office LAPTOP also. Where i can find my activation Key stored in my PC and how can i use this software in LAPTOP also.
Thanks
Posted by: Mahendra at January 5, 2007 12:46 AM
i have just took part 3 exam yesterday but unfortunately i failed my score is 480 this is the first part to my i just studied part 1 but i didnt take the exam in it
i feel the exam in first 70 questions is little hard but i can think and solve and choose after 75 mcq there is only 1hour to quarter and i feel very afarid so i coudnt think and i feel the exam very diffcult specially with the
Was the problem with mathematics question like special orders , real option , jointcost.
was the problem with me :
its wrong to begin with part 3 before 1 &2 or:
with mathematics question.
I used Gleim software and solve it completely ,and IMAQ&A , gliem review book , hock.
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