CMA Intermediate · exam guide
CMA Intermediate 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.
Intermediate students must complete coaching and 120 hours of skills training before the exam, and can begin the 15-month practical training from this level.
- Conditions to sit the exam: a valid registration number, completion of the prescribed Intermediate training, not being debarred, and an exam form submitted on time with the fee.
- Skills training of 120 hours is required at Intermediate level (ERP software, communication and soft skills, office software, e-filing).
- Practical training of 15 months (CMA New Practical Training Scheme 2020) can start immediately after registration to Intermediate. It must be completed before appearing in both or the remaining group of the Final exam.
- Practical training is done under a practising Cost Accountant, a firm of Cost Accountants, or a recognised organisation such as government bodies, banks and financial institutions, PSUs or companies meeting ICMAI's turnover conditions. CA or CS articleship is not set off against CMA practical training.
- Students with qualifying work experience can claim exemption from practical training (Form T-3, fee Rs 4,500).
- Coaching clearance must be revalidated if it lapses; the last dates are 15 March for the June term and 15 September for the December term.
- Registration is valid for 7 years, after which de novo registration is needed.
- To move to Final, a student must pass both groups of Intermediate; a student passing Intermediate in December cannot sit the Final exam the following June.
Official sources
CMA Intermediate: questions students ask
Can I join CMA Intermediate directly after graduation?
Yes. A degree from any recognised university (other than in subjects such as music, dancing, photography, painting or sculpture) gives direct admission to Intermediate without Foundation.
Can CA Intermediate passed students join CMA Intermediate directly?
Yes. ICMAI lists candidates who have qualified the ICAI Intermediate examination (by whatever name called) among those eligible for direct admission to the Intermediate Course.
What is the registration cut-off for CMA Intermediate?
31 January to sit the June exam and 31 July to sit the December exam of the same calendar year.
How long is CMA Intermediate registration valid?
Seven years from the date of registration, covering both Intermediate and Final. After that the student must apply for de novo registration.
Is there negative marking in CMA Intermediate?
Neither the June 2026 question papers nor the ICMAI prospectus provide for any deduction for wrong answers.
When can I start CMA practical training?
The 15-month practical training can begin immediately after registration to the Intermediate Course.