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What is the CIMA Level, and how to earn a CIMA Level I-IV?
The purpose of the CIMA levels is to indicate the level of your knowledge, skills and abilities in management accounting. The levels are:
- CIMA Level 1: For those who have acquired at least 60% of what they need to know, but do not yet possess the knowledge and skills necessary to work as a full-time member. These individuals can still be very useful in organizations, as accounting managers or research assistants. They also gain a greater understanding of boundaries and can advise others on matters that are beyond their level.
- CIMA Level 2: For those who have acquired at least 80% of what they need to know, but do not yet possess the knowledge and skills necessary to work as a full-time member. These individuals can still be very useful in organizations, as accounting managers or research assistants. They also gain a greater understanding of boundaries and can advise others on matters that are beyond their level.
- CIMA Level 3: For those who have acquired at least 90% of what they need to know, but do not yet possess the knowledge and skills necessary to work as a full-time member.
Reference: https://planner.cimaglobal.com/proqual/2019/strategic/P3
Certification Path of CIMA CIMAPRA19-P03-1 Certification Exam
The CIMA CIMAPRA19-P03-1 certification is conferred by the Chartered Institute of Management Accountants, which is the highest standard globally. In order to receive your certificate, you must first pass each section of the exam by receiving a cumulative score of 70% or better. Once you have passed all four sections, you need to submit a copy of your official transcript from an accredited college or university. You will also need to submit your transcripts and a letter from your employer stating that you have at least 2 years of work experience as a financial manager or auditor, depending on which exam section you have taken. You should then wait 1-3 weeks for approval before receiving your certificate and pins via mail.
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CIMA CIMAPRA19-P03-1 Exam Syllabus Topics:
| Section | Weight | Objectives |
|---|---|---|
| Topic 1: Strategic Risk | 25% | - Governance risks and oversight - Risks associated with strategy formulation - Reputational risks and impact |
| Topic 2: Cyber Risk | 25% | - Tools, techniques and cyber risk reporting - Cyber threats and vulnerabilities - Cyber security processes |
| Topic 3: Internal Controls | 25% | - Internal audit issues and assurance mapping - Internal control systems analysis - Designing internal controls for risk management |
| Topic 4: Enterprise Risk | 25% | - Risk management techniques (TARA, mitigation, registers, reporting) - Risk evaluation and measurement - Sources and types of risk |




