Which CMA part to take first: Part 1 or Part 2?
Last checked October 20, 2026 · Sources: IMA’s CMA certification pages and current content specification (topic weightings, study hours, testing windows, three-year window); IMA’s case-based questions page. Our advice on order is a suggestion, not an IMA rule.
IMA lets you take the parts in either order, so which CMA part to take first is your choice. Most candidates start with Part 1, but the better rule is to start with the part closest to your day job. Both parts have the same format, 100 multiple-choice questions then two case-based questions in four hours, and IMA recommends 150 to 170 study hours for each.
What each part asks of you
| Part 1 | Part 2 | |
|---|---|---|
| Title | Financial Planning, Performance and Analytics | Strategic Financial Management |
| Biggest topics | Planning and budgeting, performance management (20% each) | Decision analysis (25%), financial statement analysis and corporate finance (20% each) |
| Other topics | External financial reporting, cost management, internal controls, technology and analytics (15% each) | Professional ethics (15%), risk management and investment decisions (10% each) |
| Feels closest to | Management accounting and FP&A work | Corporate finance and analysis work |
| Also tests | Internal controls, technology and analytics | Risk, investment decisions, professional ethics |
Topic weightings from IMA’s current content specification.
How to decide which CMA part to take first
Part 1's budgeting, cost and performance topics will feel familiar, and an early pass builds momentum.
Part 2's financial statement analysis, corporate finance and decision analysis will be closer to what you already know.
Part 1 includes external financial reporting, so recent accounting coursework gives you a head start there.
Both in one window?
You can, but at 150 to 170 study hours per part, few candidates are ready for both at once. Spreading them across two windows halves the risk of one bad week costing you both.
Spacing the parts across the testing windows
IMA runs three testing windows a year: January/February, May/June and September/October. A common plan is one part per window, studying about four months for each; for example, Part 1 in May/June and Part 2 in September/October. That fits comfortably inside IMA’s three-year window from paying the entrance fee, with room for a retake. See our CMA exam dates for upcoming deadlines.
Common questions about which CMA part to take first
Do I have to take Part 1 first?
No. IMA does not require any order.
Which part is harder?
Sources disagree, and IMA does not publish a current split by part. Your background makes far more difference than the averages.
Do both parts have case-based questions?
Yes. From the September/October 2026 window, both parts end with two case-based questions in one hour on English exams in most regions.
How long should I leave between parts?
IMA recommends 150 to 170 study hours per part, so many candidates leave three to four months between parts.