Can I do US CMA by Self-Study?
Let’s reframe the question. Can I research and gather all material for US CMA exam preparation? Yes! You can.
You might have asked this question multiple times and got different versions of answers from various resources. Here are few factors to keep in mind before going forward whether to do a self-study or assisted learning.
- Information overload - In the online age, collecting information is very easy. But it requires a good amount of time in refining them to get the required ones. If you have plenty of time, go ahead for self study.
- Lack of comprehensive study - Almost eight people out of ten fail in US CMA exam every year due to lack of complete detailed study of the topics. To pass, you need to have a clear understanding of the key aspects of every topic, which becomes easier in assisted learning.
- Focus on management accounting - Having done the blood test when you visit the doctor, immediately he interprets it and provides solution. US CMA study too deals with the interpretation of financial information. Hence, understanding the finer aspect of financial information is very important which will be easier with the help of an experienced expert in assisted learning.
- Conceptual and intuitive learning - You should acquire a good conceptual grasp of the topics building your decision-making capability very intuitive. Receiving your blood test reports, the doctor intuitively provides the remedies without consulting anything else. Your study has to build you for that intuitive sense to provide immediate solutions for financial problems, which an experienced expert is able to bring out effortlessly.
- Time constraint for working professionals - The hard-pressed schedule of professional and personal life, a working professional is unable to take additional load of studying for almost 500 hours to pass the US CMA exam. Assisted learning will reduce your time by 50% from 500 hrs to 250 hrs.
- Good quality material - Good quality study material is required to pass an exam. For US CMA also, it is very important to gather good quality error - free course materials to judge your finer aspect of understanding. Attempting good quality MCQ type quizzes will enable you to finish on time and pass the US CMA exam.
- Time will be halved in assisted learning - To clear one part of the US CMA exam, You need to spend a minimum 250 hours. In assisted learning, it will take around 125 hours. You can save almost half of the time.
- High exam fee structure - Since the US CMA exam fee is very high, almost INR 35,000/-, you have to be very sure that your preparation is very good to pass the exam. No one would like to have multiple attempts because it will be pennywise pound foolish!
- Professional courses- If you have appeared for professional courses - CA Final, CMA Final or CS Final, CPA etc. Then with updated study material and extra time investment, you should be able to study of your own.