CMA Final Mock Test with AI Answer Checking

Eight papers of 100 marks each in two groups. Group III: Corporate and Economic Laws, Strategic Financial Management, Direct Tax Laws and International Taxation, and Strategic Cost Management. Group IV: Cost and Management Audit, Corporate Financial Reporting, Indirect Tax Laws and Practice, and one elective Paper 20.

Paper 20A Strategic Performance Management and Business Valuation, Paper 20B Risk Management in Banking and Insurance, or Paper 20C Entrepreneurship and Startup. The elective is selected at the time of enrolment for the Final Course.

Each paper is a 3-hour written exam at an offline exam centre. It opens with a compulsory Section A of 15 multiple choice questions with four options, 2 marks each (30 marks); the remaining 70 marks are descriptive and numerical questions. In the June 2026 and December 2025 papers, Paper 13 had a short case study with 4 MCQs and 11 independent MCQs, and Paper 17 and the electives had 10 standalone MCQs and a case scenario with 5 MCQs.

No. Neither the question papers nor the ICMAI prospectus provide for negative marking.

To pass a group you need at least 40% in each paper of the group and 50% aggregate of the non-exempted papers of that group. If you appear for both groups, you qualify with at least 40% in each paper and 50% aggregate across both groups together. A paper scored at 60% or more in a failed group is exempted or carried forward for the next three successive terms.

ICMAI holds its examinations twice a year, in the June and December terms. In the December 2026 term, Final papers run from 10 to 17 December 2026, 10.00 A.M. to 1.00 P.M., with the two groups on alternate dates.