ICMAI CMA Intermediate Exam Practice Test
Build your confidence for ICMAI CMA Intermediate Exam. Practice the concepts, understand the answers, and strengthen your knowledge one question at a time.
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The Institute of Cost Accountants of India (ICMAI) CMA Intermediate Examination is a pivotal professional qualification in the fields of cost and management accounting. This rigorous examination, the second of three levels in the CMA program, validates a candidate's comprehensive understanding of advanced accounting principles, financial management, taxation, and strategic business laws. Successfully clearing the Intermediate level signifies a professional's ability to apply complex cost and management accounting techniques to real-world business scenarios, making them instrumental in driving organizational efficiency, profitability, and strategic decision-making. Recognized by the Government of India and highly regarded across industries-from manufacturing and services to consulting and finance-the CMA Intermediate credential is a critical milestone that bridges foundational knowledge with expert-level practice, positioning holders for roles in cost analysis, budgeting, internal audit, and financial planning.
Sample Questions
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A worker completes a job in 6 hours where standard time is 8 hours. Time rate is Rs. 120 per hour. Under Halsey 50 percent premium plan, what are the worker's earnings?
A consignee sells 700 of 1,000 units by 31 March. The consignor paid freight Rs. 30,000 for the whole consignment; the consignee paid selling commission Rs. 14,000 on units sold and godown rent Rs. 6,000 for unsold goods. Which cost should be included in valuation of closing consignment inventory?
A sole trader has capital of Rs. 7,20,000 on 1 April and Rs. 9,10,000 on 31 March. During the year, he introduced Rs. 1,00,000 additional capital and withdrew Rs. 12,000 per month for personal use. He also paid personal income tax Rs. 40,000 from business bank but recorded it as office expense. What profit should be inferred under the statement-of-affairs method?
A company changes depreciation method for machinery after a technical review shows the usage pattern is now units-of-production rather than straight-line. The accountant wants to restate all prior years to keep comparability. Which accounting-standard treatment is most appropriate?
A product sells for Rs. 500, variable cost is Rs. 320, and annual fixed cost is Rs. 18,00,000. Management considers a special export order at Rs. 350 per unit with no effect on domestic sales and spare capacity available. What is the relevant short-run decision rule?
Career Opportunities & Salary
Exam insights and study advice
Achieving the CMA Intermediate certification is a significant differentiator in the competitive finance and accounting landscape. It demonstrates to employers a committed, specialized skill set in cost control, operational efficiency, and strategic resource management-competencies directly linked to bottom-line impact. This certification is often a prerequisite for senior financial analyst, cost controller, and management accountant positions. Furthermore, it carries substantial weight for career advancement within the corporate sector and public enterprises, and is a mandatory step toward attaining the prestigious final CMA designation, which commands high industry recognition and opens doors to leadership roles such as Chief Financial Officer (CFO) and Finance Director.
Recommended
These are the backgrounds the certifying body suggests. Check the vendor's own page for anything it formally requires.
What this exam covers
Use the published domain weights to plan your study. Practice results do not predict your certification exam score.