CGMA Objective Tests Pass Rate, Format & Study Guide

AICPA & CIMA lists nine objective tests in the CGMA Professional Qualification: E1 Managing Finance in a Digital World, P1 Management Accounting, F1 Financial Reporting, E2 Managing Performance, P2 Advanced Management Accounting, F2 Advanced Financial Reporting, E3 Strategic Management, P3 Risk Management and F3 Financial Strategy. Each objective test is computer-based with 60 questions in 90 minutes and mixes item types, including number-entry and drag-and-drop questions that the portal does not simulate. The portal mock is a mixed sampler across all nine subjects in one 60-question, 90-minute sitting; it is not any single real test, and the separate case study exams are not simulated.

The objective tests are the first stages of the CGMA Professional Qualification, a management accounting qualification; passing them is part of the route to the CGMA designation.

CIMA students and finance professionals preparing for the CGMA Professional Qualification objective tests.

The certifying body does not publicly publish an official pass rate for this exam. Be wary of third-party sites citing a specific number here — treat any pass-rate claim you see elsewhere for this exam as unverified.

Retake rules and waiting periods are set by AICPA & CIMA; confirm the current rule on the AICPA & CIMA site before you plan a resit.

AICPA & CIMA reports a scaled result for each objective test; confirm the current pass mark with AICPA & CIMA, because published figures differ. The mock shows a percent score only as a rough self-check. Format: 60 questions in 90 minutes for each real objective test; the portal mock samples all nine subjects in one 60-question, 90-minute sitting. No official pass rate is available for this exam, so none is quoted here.

AICPA & CIMA lists nine objective tests in the CGMA Professional Qualification: E1 Managing Finance in a Digital World, P1 Management Accounting, F1 Financial Reporting, E2 Managing Performance, P2 Advanced Management Accounting, F2 Advanced Financial Reporting, E3 Strategic Management, P3 Risk Management and F3 Financial Strategy. Each objective test is computer-based with 60 questions in 90 minutes and mixes item types, including number-entry and drag-and-drop questions that the portal does not simulate. The portal mock is a mixed sampler across all nine subjects in one 60-question, 90-minute sitting; it is not any single real test, and the separate case study exams are not simulated. Nine objective tests (E1, P1, F1, E2, P2, F2, E3, P3, F3) · 60 questions in 90 minutes each · computer-based · mixed item types. AICPA & CIMA reports a scaled result for each objective test; confirm the current pass mark with AICPA & CIMA, because published figures differ. The mock shows a percent score only as a rough self-check.

• E1 Managing Finance in a Digital World11.1%
• P1 Management Accounting11.1%
• F1 Financial Reporting11.1%
• E2 Managing Performance11.1%
• P2 Advanced Management Accounting11.1%
• F2 Advanced Financial Reporting11.1%
• E3 Strategic Management11.1%
• P3 Risk Management11.1%
• F3 Financial Strategy11.2%

The content outline spreads questions across 9 areas: E1 Managing Finance in a Digital World (11.1%); P1 Management Accounting (11.1%); F1 Financial Reporting (11.1%); E2 Managing Performance (11.1%); P2 Advanced Management Accounting (11.1%); F2 Advanced Financial Reporting (11.1%); E3 Strategic Management (11.1%); P3 Risk Management (11.1%); F3 Financial Strategy (11.2%).

Entry depends on your prior qualifications and the exemptions AICPA & CIMA grants. Confirm your route and any exemptions with AICPA & CIMA before you register for a test.

AICPA & CIMA charges a per-test fee that depends on your country tier and the level of the test, plus registration and annual student fees; each resit needs a new payment.

After qualifying, the CGMA designation carries membership and continuing professional development requirements set by AICPA & CIMA; check what applies after you pass.

Start with the heaviest areas of the content outline: F3 Financial Strategy (11.2%); E1 Managing Finance in a Digital World (11.1%); P1 Management Accounting (11.1%). Then work through the remaining areas, and finish with timed full-length practice runs of 60 questions in one sitting.

This guide follows the AICPA & CIMA operational level examination blueprint (2025-2026 edition) and the CGMA Professional Qualification pages; the syllabus and test format are updated periodically, so check aicpa-cima.com before you book.