Updated with the latest 2025 ICMAI results. Pass rates change every session — always check the current ICMAI announcement.
- Pass rule: 40% each paper + 50% aggregate per group.
- Foundation pass rate ~75–79% (much higher than later levels).
- Intermediate: ~13.75% (Jun 2025), ~22.87% (Dec 2025).
- Final: ~18.64% (Jun 2025), ~25.55% (Dec 2025).
- Foundation is MCQ-based; 100 marks per paper.
CMA passing criteria
Across all three ICMAI levels, the rule to clear a group is fixed:
Pass a group = at least 40% in EVERY paper AND 50% aggregate for that group.
Just like CA, a single paper below 40% fails the whole group, even if your overall average clears 50%. So a balanced preparation across all papers matters more than excelling in a few.
Latest CMA pass percentages
| Level | June 2025 | Dec 2025 |
|---|---|---|
| Foundation | ~75%–79% (typically high) | |
| Intermediate | 13.75% | 22.87% |
| Final | 18.64% | 25.55% |
Notice the big jump between the June and December 2025 sessions — pass rates genuinely swing session to session with paper difficulty and evaluation, which is exactly why you should treat any single figure as a snapshot, not a rule.
The three levels of CMA
- CMA Foundation — entry level after Class 12; objective (MCQ) papers, higher pass rate.
- CMA Intermediate — two groups; deeper cost, law and tax subjects.
- CMA Final — two groups; strategic and advanced costing/management topics before you qualify as a Cost & Management Accountant.
Practical training is also part of the journey, similar in spirit to CA articleship, giving candidates real costing and management-accounting experience.
Why Foundation looks "easy" but later levels don't
The Foundation's high pass rate can be misleading. It's an objective, entry-level filter, so most prepared students clear it. The Intermediate and Final levels are where the course gets genuinely hard — descriptive, application-heavy papers, a wider syllabus, and the same unforgiving 40%/50% rule. That's why pass rates drop from the high seventies at Foundation to the teens and twenties later. Plan your effort with the later levels in mind, not the comfortable Foundation numbers.
How to improve your odds
- Never neglect a paper — 40% in each is mandatory.
- Practise past papers and ICMAI mock tests under timed conditions.
- Build strong costing and tax fundamentals early — they recur across levels.
- Attempt one group at a time if you can't fully prepare both.
How often CMA exams are held
ICMAI conducts CMA exams in two main sessions a year (typically June and December), so a candidate who misses a group can reappear in the next window. Because of this, the pass percentage naturally swings between the June and December sittings — as the 2025 numbers showed, Intermediate jumped from about 13.75% in June to 22.87% in December. This is normal; it reflects differences in paper difficulty, the mix of candidates, and evaluation, not a change in how hard the course fundamentally is.
What a CMA does — and why people choose it
A qualified Cost & Management Accountant specialises in costing, budgeting, cost control, pricing, and management-accounting decisions that help a business run profitably. CMAs work in manufacturing, services, consulting and government, in roles spanning cost audit, financial planning and analysis, and strategic management. If you're drawn to how businesses control costs and make money — rather than only statutory audit and tax — CMA is a strong fit. That's a better reason to choose it than the Foundation's comfortable pass rate.
Reading the pass percentage honestly
Like CA, the CMA pass rate counts everyone who appeared — including under-prepared and repeat candidates. A student who finishes the syllabus, practises ICMAI mock papers and writes structured answers is competing in a far smaller, better-prepared pool than the headline suggests. Treat the percentage as a gauge of the effort the course demands, not a forecast of your own outcome. Consistent preparation across every paper — because of the unforgiving 40% rule — is what actually moves you into the "pass" column.
Related tools & guides
See the CA pass percentage guide, our passing marks calculator, and the percentage calculator.
Frequently asked questions
What is the CMA passing criteria?
40% in each paper and 50% aggregate per group — both required.
What is the CMA pass percentage?
Foundation ~75–79%; Intermediate ~13.75% (Jun) / 22.87% (Dec) 2025; Final ~18.64% (Jun) / 25.55% (Dec) 2025.
Is CMA easier than CA?
Both use the same 40%/50% rule; CMA Foundation passes more, but Inter and Final are demanding for both.
How is CMA Foundation marked?
Objective (MCQ), 100 marks per paper; 40% each paper + 50% aggregate to pass.
About ComplyKraft. Built by Dinesh Kumar S in Chennai — B.Sc. Mathematics, M.Sc. IT. Free tools and guides for students.
Disclaimer: Educational information. Pass percentages are from ICMAI results and change each session; criteria and syllabus are set by ICMAI — confirm on icmai.in.