For those of you who enjoy taking the difficult road, instead of becoming a CGMA simply by cutting a check, you can start preparing for the CGMA exam. Imagine how much more accomplished you will feel knowing you took a test to earn these letters they were practically giving away up until 2015?
Starting in January 2015, candidates from both the AICPA and CIMA will be required to pass the same capstone examination in order to become CGMA designation holders. The first exam sitting will be in May 2015.
The CGMA exam is an integrated, comprehensive strategic case study that will assess the competencies required in today’s business environment. Candidates will be required to apply theoretical and practical knowledge to a real-world scenario in order to demonstrate their ability to guide business decisions.
Previously, we assume the practice exam would have been a case study whereupon you practice taking your checkbook out of the drawer in which it is usually stuffed, write some numbers on it, place the check in an envelope, put a stamp on it, take it to the mailbox and VOILA, you're a CGMA!
After 2015, however, there's an actual practice exam, which you should definitely check out now instead of filling out your paperwork before 2015 to get that highly regarded, ridiculously easy to obtain credential:
A practice exam is available to illustrate the key features of the case study exam, demonstrate the format of the questions and allow candidates to gain familiarity with the exam’s functionality. The practice test is free to use as many times as a candidate wishes.
Will there be an explosion of CGMA review companies? Is Becker in the process of developing a stand alone CGMA program as we speak? Probs not.
They mention high performers, does that mean there will be an Elijah Watt Sells-type award for the most CGMAish CGMAs?
Please note that responses on the practice exam will not be marked or saved. Practice exam answers are available for download. The answers demonstrate what a high-performing candidate could reasonably expect to achieve in the exam. Other approaches could be equally valid. Since answers will not be saved, they should be copied into a word processor and saved by the user.
Oh boy, we can't wait!