The CIMA exam pass rates for 2022 have recently been released for all of the objective test exams. This includes the 4 papers at Certificate level as well as the 9 for the professional qualification.
So, which CIMA exam is hardest according to the pass rates?
Let’s take a look at the data…
| CIMA level | CIMA paper | 2022 pass rate |
|---|---|---|
| Certificate | BA1 | 69% |
| BA2 | 63% | |
| BA3 | 72% | |
| BA4 | 57% | |
| Operational | P1 | 52% |
| F1 | 80% | |
| E1 | 84% | |
| Management | P2 | 43% |
| F2 | 51% | |
| E2 | 83% | |
| Strategic | P3 | 58% |
| F3 | 55% | |
| E3 | 74% | |
As you can see, P2 is the hardest CIMA exam to pass, with nearly 60% of students unable to overcome this paper successfully.
Is this what you predicted?
I have to say I’m not surprised. I was even talking about this back in 2014
You see, many students experience a mental block with P2 and fail the paper multiple times.
There are many factors that contribute to this and I’ll go into them shortly.
But before that it’s also worth noting that CIMA F2 is the next toughest paper where just over half of the students attempting this exam being able to pass.
This results in an average pass rate for the three objective papers at Management level of 59%. Slightly lower than that of Strategic level (62%) and much less than Operational level (72%).
Of course, this then has the knock on effect of delaying when you can take the Management Case Study (MCS) exam
And if it takes longer than you’d hoped to complete the CIMA Management level and progress onto Strategic level, then the further away you are from your CGMA letters and the salary that goes with it.
So, why are the majority of students failing the CIMA P2 paper?
What makes CIMA P2 so tough to pass?
And what can you learn from this for your own exam prep?
What Makes CIMA P2 So Tricky?
In my view, there are several reasons why…
Firstly, the sheer volume of the P2 syllabus. There’s a lot to cover and little of it can you just skim through.
This is especially true because there are a range of complex topics to get your head around. For starters, many students hate transfer pricing because it requires so much brain power to comprehend.
Then there’s decision trees, calculating IRR, ABC vs absorption costing, real options and more…
As with CIMA P1 – which also has a low pass rate of just 52% – there is a lot about costing which is more geared towards a manufacturing type business, whereas most people work in the service sector. This makes it much harder to bring the subject to life.
Then there’s the nature of objective test questions – you’re either 100% right or 100% wrong.
The CIMA objective exams are written to include answer options that represent common mistakes (such as missing a step on a calculation) or are plausible yet incorrect (known as distractors).
So, without a good underlying grasp of the theories, models and techniques across the CIMA P2 syllabus you are always likely to fall for a number of these traps.
It’s also the case that there are some time consuming questions in the P2 exam.
Scenarios need to be read and understood. And there are calculations that can require 2-3 steps before a final answer can be selected. Of course, no marks for workings either.
Why Does CIMA F2 Have a Low Pass Rate?
As with all the F pillar papers, you have to be technically precise in the CIMA F2 exam and this can cause students’ headaches.
In particular…
- Learning definitions and criteria of various accounting standards
- Group accounting – pre and post acquisition profits, mid year acquisitions
- Accounting for leases
- Basic and diluted EPS
- Interpreting ratios
So, make sure you leave no stone unturned when it comes to filling knowledge gaps on the F2 paper and continually practice questions to minimise technical errors.
Tips to Make CIMA Objective Tests Easier
So, now you know why the hardest CIMA exams are the way they are.
Now, let me give you some specific tips to overcome those challenges and defy those CIMA pass rates.
Tip #1: Focus on topics, not time
A major reason why I called this website Management Accounting Mastery is that to become a Chartered Global Management Accountant (and future finance leader) you need to be able to MASTER the skills you are being taught.
And mastery takes time.
It’s just like learning how to play the piano to a professional level.
Give yourself longer to fully understand the whole syllabus, especially the more complex areas.
You’ll soon be found out in the exam if you haven’t grasped the underlying concepts. This is because the same topic can be questioned in a variety of different ways. You therefore need more than just rote knowledge.
So, give yourself permission to take things slowly and methodically. This ensures you are able to understand WHY things are and NOT just what they are.
Think of a medical student training to be a doctor…
They need to know why the different parts of the body work they way they do. Not just what they are. It’s this level of deep understanding and skill which enables them to decide the best treatments in different circ*mstances.
Tip #2: Get Support, Don’t DIY
In my view, far too many CIMA students make life harder for themselves by trying to go alone. Self-study involves a lot of guess work, confusion and time wasted.
Why?
Because effectively you are having to teach yourself.
It’s like buying furniture from IKEA. Where you have to go home and try to put it all together with only the instructions to help you. And guess what? The instructions aren’t always that clear.
Each CIMA syllabus is also made of many separate parts. There are several underlying concepts that connect together within a topic as a whole. And there are several topics across each paper.
So, you are relying on getting a good grasp of each element just by reading your study text. And if that isn’t working, you have to go searching around for answers. Frustrating to say the least!
Unsurprisingly, the odds on you succeeding this way are not good.
And this just increases the likelihood of you having to resit your exam, go through the same material all over AGAIN and pay for an extra exam fee.
Not to mention the BIGGER opportunity cost of it taking longer to be a CGMA and earning a significantly higher salary.
Even if you believe self study is the only viable path for you, at the very least join a CIMA study group where you can ask questions, learn alongside other students and teach each other what you know.
Better still, sign up to a premium course where an expert tutor will give you step-by-step instructions on how to master the skills you need – MUCH FASTER. This really is the quickest way to cover a whole CIMA syllabus, gain clarity on the required exam technique, get your questions answered and solve your problems
Tip #3: Embrace the Process
Let’s face it, studying for your CIMA exams is effectively like having a part-time job on top of your existing full-time role.
It’s going to involve years of your life. Not just weeks and months.
So….
Try to enjoy it!
Be curious about what you’re learning.
Take pride in enhancing your skillset.
Gain satisfaction through overcoming difficulty and mistakes.
Be up for the challenge.
Share what you’ve learned with fellow students and help them along.
Find as much joy in the work you are putting in as the sense of achievement when you’ve completed an exam or level.
What Else Can We Learn From The Latest CIMA Exam Pass Rates?
E = Easier?
From the 2022 data it shows that the E pillar papers on the professional CIMA qualification are the easiest, with pass rates between 74% to 84%.
Now, this DOESN’T mean they are easy. So, don’t feel disheartened if you’re having to retake one of them.
But clearly they seem not as difficult as the P and F pillar exams.
So, what does this mean for you?
Well, you can look at it two ways…
- When starting a new CIMA level you may want to tackle an E pillar paper first, as chances are you will pass it and give yourself a confidence booster for the rest of the level and build momentum.
- You leave E1, E2 or E3 as your last objective test before the case study exam and “eat that frog” by facing up to the more difficult papers on that level beforehand.
Difficulty at CIMA Certificate Level
The picture at Certificate level is that CIMA exam pass rates reveal that BA4 is the hardest CIMA exam with a pass rate of 57%. BA3 is only slightly easier at 63%.
Again, this is not a shock to me.
I’ve known students come to me saying they are writing BA4 for the third time or are unsure how long they should take to prepare for the exam for the first time.
It’s understandable.
In CIMA BA4 you’re introduced to topics such as ethics and corporate governance – which still cause students issues at Strategic level – as well as contract and employment law. These can all be difficult to get your head around in the learning phase of your exam prep.
But thankfully there are plenty of helpful tuition videos, revision notes and practice questions that streamline your learning and bring the subject to life.
Conclusion: Why is CIMA So Hard?
Whatever the pass rates, each individual will have their own answer as to which CIMA exam is hardest.
Even the so called easier papers are tricky for some.
And that’s okay.
The CIMA syllabus is supposed to be demanding. Employers need to be confident that successful candidates are worthy of the prestigious chartered management accountant status.
And of course there are 16 CIMA exams across both Certificate and Professional levels (unless you have exemptions). It’s a marathon and not a sprint.
Achieving the CGMA designation is a test of character and personal skills. Balancing your studies alongside working a full-time job – as well as your personal life – is no easy task.
But once you accept that it’s going be hard work, it starts to become easier.
And don’t be scared by the size of the challenge. Because the bigger the challenge, the bigger the rewards.
You’ll be developing as a person as well as your accounting, finance and business skills.
Think of it like climbing to the summit of Mount Everest vs a small hill. The experiences along the way and the sense of achievement will change your life.
Do you want to understand your CIMA objective test paper a bit better? Ask your questions in the comments section below, and I’ll give you some tips.
