CMA Inter Study Material: ICMAI PDFs, Practice Papers and Books

Download ICMAI's CMA Inter study material

ICMAI's name for these books is "Study Notes". Each one covers a single 100-mark paper and follows its syllabus module by module, and the eight papers are split into two groups (Curriculum 2022). The weights below are ICMAI's study weightage for each section, printed at the start of every book.

Group I: Papers 5 to 8

Group II: Papers 9 to 12

The imprint page of each book gives its edition history and a price of ₹600; for Paper 7 the ₹600 covers both books. If a link above breaks, get the current file from ICMAI's Intermediate page.

The "new syllabus" in search results is Syllabus 2022. It has applied from the June 2023 exam term, and ICMAI ran Syllabus 2016 only until the December 2023 term (Curriculum 2022). ICMAI's study materials page posts only the Syllabus 2022 books (its "Archive Study Materials" page lists no files as of October 2026), and PDFs shared on other websites may be older editions, which matters most for the tax and law papers. The books for the level before this one are listed in our CMA Foundation study material guide.

Supplements for the December 2026 term

Tax and company law change after the books are printed, so ICMAI posts a Supplementary for each exam term. Its Supplementary page lists supplements for four Intermediate books for the December 2026 term:

Read each supplement next to the matching module of the book. The Section A taxation book gives tax rates for assessment year 2026–27, so if you are sitting a later term, look for that term's supplement on the same ICMAI page.

Free practice papers for Intermediate

Alongside the books, ICMAI gives Intermediate students five free sets of practice material:

Format of ICMAI's June 2026 model papers

Set 1 of the June 2026 model question papers uses the same format for all eight Intermediate papers, and the practice test papers for that term follow it too:

• 3 hours, 100 marks.
• Section A (compulsory): 15 multiple-choice questions of 2 marks each, 30 marks in all.
• Section B: answer any five of seven questions, 14 marks each, 70 marks in all.

A model paper shows the kind of paper ICMAI sets; check the examination notice for your own term before relying on it.

Previous year question papers

ICMAI posts the question papers of each exam term on its question papers page. It lists Syllabus 2022 papers for each term since December 2023, up to June 2026, and the June 2026 set includes all eight Intermediate papers; papers from earlier terms were set for older syllabuses. Our CMA Intermediate question paper guide has more on past papers and the Intermediate exam pattern.

Printed books for registered students

When you register for Intermediate, you enrol for ICMAI's coaching for both groups, postal (e-learning) or oral, and the books come with it: posted to your registered address under postal coaching, or handed out by your centre under oral coaching (CMA Prospectus 2025). If you pay in instalments, the first instalment already brings the books of Group I and Group II. The prospectus prices each Intermediate copy at ₹600, plus ₹100 courier per copy. Coaching modes and parcel tracking are explained in our guide to CMA study material for all levels.

Reference books ICMAI recommends

ICMAI does not expect its books to be your only reading: the CMA Prospectus 2025 says students "should refer to other text books" for in-depth study, and its Annexure IV names recommended books for each paper, with a note to use the latest edition of each. Some titles from the Intermediate list:

In our view, the study notes should stay your main text because they are written to the syllabus and its weights; a reference book is most useful for topics you find hard or need more questions on.

How to plan your Inter preparation

1. Decide on one group or both. You can sit Group I, Group II or both in a term. To pass a group you need at least 40% in each paper and 50% in aggregate across that group's papers, in one sitting; if you sit both groups, the 50% aggregate is taken over both groups together (Regulation 41 of ICMAI's regulations; CMA Prospectus 2025). Study the books for the group you are sitting first.
2. Spend your time where the marks are. Use the weights in the tables above: Corporate Laws is 40% of Paper 5, Financial Management 80% of Paper 11 and Decision Making Tools 30% of Paper 12.
3. Keep Paper 7 current. Use the February 2026 books with the supplement for your exam term. The work books date from March 2025, so check any tax figures in them against the current books.
4. Practise MCQs from the start. Section A of ICMAI's June 2026 model papers gives 30 of the 100 marks to multiple-choice questions, so answer the MCQ bank questions for each module as soon as you finish it.
5. Write full papers against the clock. For each paper, take both model paper sets and the practice test paper in 3 hours, mark them with ICMAI's answer papers, then move on to the Syllabus 2022 past papers.
6. Know what a near miss gives you. If you do not pass a group, a paper in which you scored 60% or more can be exempted in later attempts (Regulation 41). Our CMA Inter result guide explains exemption and carry-forward of marks.