3,205 exam-style multiple-choice questions with full answer explanations covering the complete CMA Part 1 syllabus (Sections A–F) — Financial Planning, Performance, and Analytics. Practice by topic, sit 20-question mock exams, and read a detailed explanation for every answer. Free, no signup, on mobile and desktop.
Section A — External Financial Reporting Decisions
CMA Part 1 Section A covers external financial reporting decisions: the balance sheet, income statement, statement of comprehensive income, statement of cash flows (direct and indirect method) and statement of changes in equity, plus revenue recognition and the measurement, valuation and disclosure of assets such as receivables, inventory, investments and debt securities. 409 free practice questions across 29 topics:
- Inventory Tracking Methods37
- The Indirect Method36
- Depreciation of Fixed Assets30
- Common Stock27
- Long-Term Contracts23
- Statement of Cash Flows Overview21
- The Financial Statements and the Balance Sheet20
- Investing and Financing Activities, SCF Disclosures18
- Statement of Comprehensive Income15
- Accounts Receivable15
- Income Statement13
- Inventory Count, Errors, and Valuation13
- Warranties13
- Revenue Recognition13
- Business Combinations and Consolidations12
- Intangible Assets12
- Integrated Reporting10
- Income Measurement10
- Accounting for Income Taxes9
- Investments Overview, Debt Securities8
- Leases7
- Treasury Stock and Classification of Shares7
- Statement of Owners Equity and Limitations of Financial Statements6
- Equity Investments6
- Recording Fixed Assets6
- Reclassifying Short-Term Liabilities6
- Preferred Stock6
- Owners Equity and Retained Earnings5
- Right of Return and Consigned Goods5
Section B — Planning, Budgeting & Forecasting
Section B covers planning, budgeting and forecasting: strategic planning, the budgeting process and master budget, operating and cash budgets, budget methodologies (flexible, rolling, zero-based and activity-based), forecasting techniques (regression, learning curves, probability and expected value) and pro forma financial statements. 1514 free practice questions across 44 topics:
- Comparing Flexible, Rolling, Activity-Based, Zero-Based, and Project Budgeting107
- Capital Expenditures and Cash Budgets80
- Budgeting for Production Costs78
- Pro Forma Financial Statements72
- Budget Methodologies69
- Budgeting Calculation Questions67
- The Budgeting Process56
- Building Budget Standards55
- Strategy Implementation and Budgeting53
- Sales Budgets and Production Budgets52
- Expected Value49
- Preparing the Budget47
- Budgeting Concepts43
- Expected Value Computations and Learning Curve Analysis41
- Wrapping Up Operational Budgeting41
- Sales Forecasts and Pro Forma Financial Statements38
- Learning Curve Analysis37
- Strategic Objectives and Generic Strategy37
- Operating Budget Calculations -- Production and Direct Materials36
- Projecting Cash Collections36
- Strategy and SWOT34
- Specific Strategy Tools34
- Probability31
- Learning Curves29
- Roles of Budgets and the Budgeting Process26
- The Cash Budget26
- Strategic Management25
- The Master Budget24
- Regression Analysis24
- Correlation and Regression19
- Analyzing External and Internal Environments19
- Operating Budget Calculations -- Others15
- Overview, Mission, and Goals14
- Strategic Planning13
- The Balanced Scorecard12
- Top-Level Planning and Analysis12
- Sensitivity Analysis11
- Estimating Fixed and Variable Cost Allocation11
- Establishing Standards10
- Formulating and Implementing Strategies9
- Budgeting and Standard Costs8
- Forecasting and Regression Analysis5
- Ongoing Budgetary Reporting5
- Other Planning Tools4
Section C — Performance Management
Section C covers performance management: variance analysis (direct materials, direct labor, overhead, sales and market variances), responsibility accounting, the contribution income statement, transfer pricing, and performance measures including ROI, residual income and the balanced scorecard. 327 free practice questions across 12 topics:
- Overhead Variances54
- Return on Investment and Residual Income47
- Manufacturing Input Variances -- Direct Materials44
- Transfer Pricing31
- Manufacturing Input Variances -- Direct Labor30
- Responsibility Centers30
- Introduction to Variance Analysis20
- Contribution Income Statement19
- Sales Variances17
- Multiple Performance Measures16
- Multiple Input Variances14
- Market Variances5
Section D — Cost Management
Section D covers cost management: cost classifications and behavior, cost of goods sold and goods manufactured, costing systems (job-order, process, life-cycle and activity-based costing), joint products and byproducts, overhead allocation and application, variable and absorption costing, service-department cost allocation, supply chain management, just-in-time and MRP/ERP, capacity management, value chain and process analysis, and cost of quality. 408 free practice questions across 20 topics:
- Classifications of Costs51
- Overhead Allocation50
- Variable and Absorption Costing – Calculation Questions35
- Multiple Shared Service Cost Allocation34
- Variable and Absorption Costing - Theory Questions30
- Joint Products29
- Activity-Based Costing29
- Quality23
- Job-Order and Life-Cycle Costing17
- Process Costing and Spoilage Theory16
- Cost of Goods Sold and Goods Manufactured14
- Byproducts13
- Single Shared Services Cost Allocation12
- Just-In-Time Systems and MRP, MRPII, ERP12
- Value Chain Analysis11
- Costing Systems8
- Accounting for Overhead, Including Over- or Under-Applied OH8
- Process Analysis8
- Supply Chain Management4
- Capacity Level and Management Decisions4
Section E — Internal Controls
Section E covers internal controls: governance principles and the hierarchy of corporate governance, the Foreign Corrupt Practices Act and the Sarbanes-Oxley Act, internal control frameworks and components, transaction and safeguarding controls, systems controls (general and application controls), internet security, business continuity planning, and external audit opinions. 233 free practice questions across 11 topics:
- System General Controls41
- Safeguarding Controls40
- System Application Controls39
- Internal Control Introduction and Components23
- Internet Security23
- Business Continuity Planning16
- Foreign Corrupt Practices Act and Sarbanes-Oxley Act14
- Hierarchy of Corporate Governance10
- Governance Principles9
- Transaction Controls9
- External Audit Opinions9
Section F — Technology & Analytics
Section F covers technology and analytics: information systems and ERP, databases and the data life cycle, data governance, technology-enabled finance transformation, cybersecurity and defenses against cyberattacks, and data analytics — business intelligence, big data, data mining, data warehouses, blockchain, artificial intelligence, cloud computing and data visualization. 314 free practice questions across 18 topics:
- Types of Data Analytics63
- Data Mining23
- Databases21
- Artificial Intelligence20
- Visualization18
- Defenses Against Cyberattacks17
- Transaction Cycles16
- Data Warehouse, Data Mart, Data Lake, and EPM16
- Data Life Cycle and Records Management15
- Blockchain and Smart Contracts15
- Business Intelligence and Big Data15
- Cloud Computing14
- Enterprise Resource Management12
- Technology-enabled Finance Transformation12
- Information Systems11
- Cyberattacks10
- Data Governance9
- Analytic Tools-Sensitivity and Simulation Analysis7
Frequently asked questions
Is this CMA Part 1 practice free?
Yes — all 3,205 questions, explanations and mock exams are free to use, with no signup required.
Which CMA Part 1 sections are covered?
All six sections — A (Financial Statements), B (Planning, Budgeting & Forecasting), C (Performance Management), D (Cost Management), E (Internal Controls) and F (Technology & Analytics): the complete CMA Part 1 syllabus.
What is the CMA Part 1 passing score?
You need a scaled score of 360 out of 500 to pass CMA Part 1 — roughly 72% correct.
How many questions are on the real CMA Part 1 exam?
CMA Part 1 has 100 multiple-choice questions plus 2 case-based questions (CBQs), taken over 4 hours.