1 Paper 13: Corporate Laws and Compliance (Companies Act, SEBI, FEMA, Insolvency Code) 25%

2 Paper 14: Strategic Financial Management (Portfolio, Derivatives, M&A, Risk Management) 25%

3 Paper 15: Strategic Cost Management (ABM, Value Chain, Target Costing, Lean, TOC) 25%

4 Paper 16: Direct Tax Laws and International Taxation (Income Tax + Transfer Pricing + DTAA) 25%

Online ProctoringNot available

ID RequirementsICMAI Registration Number + valid government-issued photo ID (Aadhaar, Passport, Voter ID, Driving Licence)

RenewalNot required -- CMA membership is for lifetime; Certificate of Practice holders must complete 30 CPD hours every 3 years

PrerequisitesCMA Intermediate (both groups) cleared; completion of 15-month practical training under a CMA in practice (recommended)

Retake PolicyExams held in June and December; no limit on total attempts; exemption in passed papers valid for next 3 attempts

LanguagesEnglish

CMA Final Group III (CMA Final Gr. III) Exam Blueprint