CMA Foundation · exam guide
CMA Foundation Rules and Regulations
Checked against ICMAI's official pages, as of 12 October 2026. Rules and fees change; confirm on the official site before you act.
Foundation students must complete compulsory coaching, hold a valid Identification Number, and submit the exam form in time for each term.
- Coaching (postal/e-learning or oral) is compulsory for students admitted to the Foundation Course. Oral coaching runs for 4 months with at least 240 lecture hours of 45 minutes each.
- Conditions to sit the exam: a valid Identification Number, not being debarred by the Institute, and an exam form submitted on time with the fee.
- Admission must be completed at least four months before the exam (cut-off 31 January for June, 31 July for December).
- Fees paid after admission is completed are not refunded. An exam fee may be carried to the next exam only if the candidate shows, with evidence, that circumstances beyond their control prevented attendance, and applies within 15 days of the last exam date.
- The syllabus, exam scheme and pattern can change; ICMAI publishes changes through notifications on its website.
Official sources
CMA Foundation: questions students ask
Is the CMA Foundation exam online?
No, not for the December 2026 term. ICMAI announced that the December 2026 Foundation exam is an offline, OMR-based multiple choice exam taken at an exam centre. Check each term's notification, as the mode is set term by term.
Is there negative marking in CMA Foundation?
No. The December 2026 notification states there is no negative marking. Each paper has 50 questions of 2 marks each.
What is the last date to join CMA Foundation for an exam term?
Admission must be completed by 31 January to sit the June exam and by 31 July to sit the December exam of the same calendar year.
Can I join CMA Foundation after Class 10?
Yes. Admission is open after Class 10, but ICMAI's admission chart shows you become eligible to appear for the Foundation exam only after passing Class 12.
Do I have to take Foundation if I am a graduate?
No. Graduates of a recognised university and holders of other qualifications listed for direct admission (such as ICAI Intermediate passed candidates) are exempted from Foundation and can register for Intermediate directly.
How long is a Foundation Identification Number valid?
Three years from issue.