CMA Part 2: Strategic Financial Management
Practise financial analysis, finance, decisions and ethics with every option explained. This bank supports the MCQ section; also practise the case format using IMA resources.
Try 10 free questions and see your levelTake a full mock exam
- 500 questions in the bank
- 100 questions in 180 minutes per site supplementary practice session
- 103 flashcards
Every option explained so you understand why
If your exam were today, would you pass?
Try 10 free questions without signing up. Get your score and find your weak areas as soon as you finish.
Hadeel Home Goods reports for the year (SAR 000): net sales 2,400; cost of sales 1,488; selling expenses 312; interest expense 60; total assets 3,000; dividends 90. Last year gross margin was 40%. An analyst also notes inventory rose 15%. Which statement about this year's common-size performance is correct?
All 10 free questions with answers and an explanation for every option
360/500 scaled score; no fixed raw-percent equivalent This is your practice accuracy. It cannot be converted to the exam’s scaled score or used to determine whether you pass.
What you get
- 500questions in the bankPractise with the answer shown right away, or sit a full timed mock
- 6unitsSplit by the exam syllabus
- 103flashcardsTo lock in terms and definitions
- 159quick review pointsEach unit in a few key lines
Unit map
- 01Financial Statement Analysis20 questions
- 02Corporate Finance20 questions
- 03Business Decision Analysis25 questions
- 04Enterprise Risk Management10 questions
- 05Capital Investment Decisions10 questions
- 06Professional Ethics15 questions
Exam facts
CMA Part 2: Strategic Financial Management — Number of questions: 100 MCQs plus two separate case-based sets. Exam time: 180 minutes for MCQ practice; the real exam adds 60 minutes for cases. Pass mark: 360/500 scaled score; no fixed raw-percent equivalent. Calculator: [object Object]. Exam fee: US$545 per part for professionals; US$407 for students/academics, excluding membership and program entrance fees. Source: Institute of Management Accountants (IMA) / Institute of Certified Management Accountants (ICMA) (Last verified: 2026-11-04). Question bank: A site supplementary practice session of 100 questions in 180 minutes with a result for every unit, plus 500 explained questions across 6 units, every option explained, a review of your mistakes, and two ways to practise: see the answer right away, or sit a full timed mock. Free questions: a 10-question diagnostic test covering the main units, no sign-up; at the end you get your score and your weakest units.
- Exam language
- English
- Number of questions
- 100 MCQs plus two separate case-based sets Source
- Exam time
- 180 minutes for MCQ practice; the real exam adds 60 minutes for cases Source
- Pass mark
- 360/500 scaled score; no fixed raw-percent equivalent Source
- Calculator
- [object Object] Source
- Exam fee
- US$545 per part for professionals; US$407 for students/academics, excluding membership and program entrance fees Source
- Registration
- The two parts may be taken in either order; this track defaults to English Source
- Results
- Case-format results approximately two weeks after the testing month ends, rather than immediately Source
- Retakes
- One attempt per part per testing window; retakes require fresh registration and fees Source
- Validity
- Pass both parts within three years of program entry or any passed part expires Source
Last verified: 2026-11-04
Where other sources differ
- From September/October 2026, English exams in the Middle East use cases in place of essays. This bank does not simulate the two interactive case sets.
- At least 50% on the MCQ section is required to access cases; this is an access condition, not the final pass mark.
How to register
- Join IMA and enroll in the CMA program.
- Choose January/February, May/June or September/October and register for Part 2.
- Use your authorization number to schedule an available Prometric center and appointment.
Exam body
Institute of Management Accountants (IMA) / Institute of Certified Management Accountants (ICMA): Official website: Institute of Management Accountants (IMA) / Institute of Certified Management Accountants (ICMA)
Study guides
Frequently asked questions
Is this SOCPA or a Saudi accounting licence?
This is Part 2 of IMA/ICMA’s CMA credential, with a syllabus separate from Part 1.
Can I try CMA Part 2 questions for free?
Yes. Free questions: a 10-question diagnostic test covering the main units, no sign-up; at the end you get your score and your weakest units. The free practice test page lists the same questions with answers and an explanation for every option. The rest of the questions and the full mock exams come with a pass from SAR 26.
What makes this CMA Part 2 question bank different?
Question bank: A site supplementary practice session of 100 questions in 180 minutes with a result for every unit, plus 500 explained questions across 6 units, every option explained, a review of your mistakes, and two ways to practise: see the answer right away, or sit a full timed mock. Every question is reviewed and referenced, ready to practise on your phone. Try the free questions and read the explanations before buying full access.
Must I take Part 1 first?
You may take the parts in either order. Education and experience requirements remain separate from passing the exams.
Does 360 out of 500 mean 72% correct?
No. It is a scaled score rather than a raw correct-answer percentage. A practice result cannot be converted into an official CMA score.
Does this practice include the new case format?
This is supplemental MCQ practice. Use IMA and Prometric resources to practise the two case sets before test day.
Is this an official site, and how do I pay?
It is an independent site, not part of Qiyas or any government body, and every question is reviewed before it is published. You pay once, with no automatic renewal, through Waffo Pancake (the merchant of record) by Visa, Mastercard, Apple Pay or Google Pay, and your statement shows "WAFFO". If you were charged twice or the pass did not open, email support@saudiexams.com.
Study material sample: Financial Statement Analysis
Summary
Financial Statement Analysis represents 20% of the CMA Part 2 outline. It covers comparative and common-size analysis, ratios, profitability and special issues. For each problem, identify the numerator and denominator definitions, period, currency and accounting policy first. Then interpret the drivers and limits: a higher return can reflect a small asset base, and higher earnings may not mean cash collection. These worked examples use their stated definitions; do not assume every source uses identical conventions.
What the exam focuses on
- A.1: Distinguish amount change, percentage change, a trend index and a common-size statement share.
- A.1: Compare consistent classifications, periods, policies and business models.
- A.2: Interpret liquidity and solvency separately; consider industry conditions and actual obligation maturities.
Show 8 more
- A.2: Review current, quick and cash ratios, receivable/inventory/payable turnover and their days-based cycles.
- A.2: Separate liabilities/assets from liabilities/equity, and interest coverage from principal repayment.
- A.2: Use DuPont decomposition to identify margin, asset efficiency and leverage contributions to ROE.
- A.2: EPS, P/E and book value per share are different measures; align units before comparing.
- A.3: Trace earnings from net sales through gross, operating and net profit, then compare with operating cash.
- A.3: Assess revenue sources and stability, expense estimates and earnings persistence.
- A.4: Distinguish policy changes, estimate changes and error corrections; assess exchange-rate and inflation effects.
- A.4: Review lease obligations and adjusted measures, and examine disclosures before relying on published ratios.
Common traps
- Using the current amount instead of the base-year amount in percentage change.
- Confusing percentage growth, a trend index and percentage-point changes.
- Treating high liquidity as sufficient evidence of efficient inventory and collections.
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- Using sales instead of cost of sales in inventory turnover.
- Forgetting averages or time-weighted shares when the definition requires them.
- Deducting common dividends when calculating EPS.
- Treating better ROE as proof of better operations without examining the denominator and leverage.
- Adding every working-capital change to income in a cash reconciliation.
- Assuming EBITDA equals operating cash or that an asset-sale gain recurs.
- Applying one treatment to a policy change, estimate change and prior error.
- Assuming all exchange differences enter profit or that all leases are off balance sheet.
- Comparing IFRS and US GAAP without reading the specific policies and adjustments.
Try the flashcards
Tap a card to see the answer
What is the income-statement common-size base?
Net sales; item share = item / net sales.
How do 25% growth and an index of 125 differ?
They can describe the same relationship with base 100; the index includes the original 100.
What denominator measures change from 200 to 260?
200, the base amount; growth is 30%.
How are collection days derived from turnover?
Days in the year under the question’s convention / receivables turnover.
What is the cash cycle?
Inventory days + receivable days - payable days.
What is interest coverage?
EBIT / interest expense; it does not measure principal.
What are the three DuPont factors?
Net margin, asset turnover and equity multiplier, using consistent definitions.
What is the basic-EPS denominator?
Weighted-average common shares outstanding.
Why you can trust these questions
- Published questions: 500. We reviewed every one before publishing it: the answer, the explanation of each option and the source.
- Exam facts last checked against the organiser’s website: 2026-11-04. We check them again every three months and two weeks before each test.
- Found a mistake? Tap "Report an error" under any question in the practice area, or email us at support@saudiexams.com
- Independent website. Not affiliated with ETEC (Qiyas), the Financial Academy or any government body.