CMA Final Question Paper and Exam Pattern

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just knowing the right answers isn’t everything. You need to know how to provide that answer in the format asked and not to go overboard.

While studying for CMA exams you need various study materials and quality resources. Just studying the concepts is not enough. You need the proper practice using your knowledge to answer the questions in the right way and fast enough to complete your exam within the given time. And just knowing the answers or information isn’t everything. You need to know how to provide that information in the format asked and not to go overboard.

For example, when a question in your exam comprises the word “Explain”, you are required to state the meaning or purpose of something, but when it says “Illustrate” you need to provide an example too.

And how do you know all of these things?

By attempting question papers.

CMA Final Question Paper

You can download CMA final papers with solutions and how to tackle them for group 3 and group 4 from the following link.


cma previous year question papers

You can download ICMAI’s CMA final papers without solutions  from the following link


CMA Final Paper – Exam Pattern

CMA final paper is divided into two groups, group 3 and group 4, each containing 4 papers carrying 100 marks. All the papers of group 3 and group 4 will be 100 marks each. The total duration of the exam is of 3 hours.

Let’s look at the exam pattern for CMA final paper in a more detailed manner.

CMA Final Paper Exam Pattern

Mode of exam Online center-based exam
No of groups Two – Group 3 & Group 4
No of papers Eight – 4 papers in each group
Duration of exam 3 hours
Total marks 100 marks in each paper
Type of question Objective and Subjective
No of questions 120 questions in each
Marking scheme No negative marking
Language Hindi or English
Passing criteria 40% in all papers and 50% in total

CMA Final Question paper – Marking Scheme

CMA final paper-wise marking scheme. There is no negative marking in CMA exams.


Paper 13: Corporate Laws & Compliance (CLC)
  • Companies Act – 60%
  • Other Corporate Laws – 25%
  • Corporate Governance – 15%

Paper 14: Strategic Financial Management (SFM)
  • Investment Decisions – 25%
  • Financial Markets and Institutions – 20%
  • Security Analysis and Portfolio Management – 25%
  • Financial Risk Management – 30%

Paper 15: Strategic Cost Management – Decision Making (SCMD)
  • Cost Management – 20%
  • Strategic Cost Management Tools and Techniques – 50%
  • Strategic Cost Management Application of Statistical Techniques in Business Decisions – 30%

Paper 16: Direct Tax Laws and International Taxation (DTI)
  • Advanced Direct Tax Laws – 50%
  • International Taxation – 30%
  • Case Study Analysis – 20%


Paper 17: Corporate Financial Reporting (CFR)
  • GAAP and Accounting Standards – 20%
  • Accounting of Business Combinations & Restructuring -20%
  • Consolidated Financial Statements – 20%
  • Developments in Financial Reporting – 25%
  • Government Accounting in India – 15%

Paper 18: Indirect Tax Laws and Practice (ITP)
  • Advanced Indirect Tax & Practice – 80%
  • Tax Practice and Procedures – 20%

Paper 19: Cost and Management Audit
  • Cost Audit – 35%
  • Management Audit – 15%
  • Internal Audit, Operational Audit and other related issues – 25%
  • Case Study on Performance Analysis – 25%

Paper 20: Strategic Performance Management and Business Valuation
  • Strategic Performance Management – 50%
  • Business Valuation – 50%

For CMA Final study material and other quality resources, Click here: CMA Study Material

CMA Final Question Papers: How to Get the Best Results

When you have studied the contents of all the subjects/papers of your CMA final course, it’s time to start attempting the papers.

Step 1: Carefully read all the CMA final papers you have and examine the exam pattern. Look at the type of question in every section of the paper.

Step 2: If you downloaded TopLad’s CMA final question papers with solutions provided by our faculties, examine how to answer these questions correctly.

CMA Final Question Papers

Step 3: Start attempting the question paper.

  • Attempt the paper in one sitting to get in the habit
  • Try to complete the paper in the given exam time. If you are not able to finish it, try again every day to increase your speed

CMA Revision Classes

Step 4: Score yourself and keep progress daily. Try to improve your score day by day

Step 5: Identify your strengths (sections you score good in) and weaknesses (sections you score bad in). Focus on improving your weak points. Figure out your threats (sections you can’t improve even after vigorous studying). It’s better to leave your threats and not waste too much time on them.

Step 6: Keep practicing!

If you practice hard and give yourself sufficient time, then nobody can stop you from succeeding.

You check out TopLad’s CMA final classes, study material, video lectures, books, mock test papers and more!

TopLad CMA Classes