CMA Part 2 Practice Tests: 420 Questions & 2 Mock Exams

This course contains the use of artificial intelligence.

A ratio can improve while cash becomes harder to access. A special order can generate revenue while reducing company value. An attractive acquisition can fail once financing, integration risk, and contingent payments are included. CMA Part 2 asks you to connect the calculation with the decision behind it.

Build that judgment with 420 original multiple-choice questions across six practice tests. Four targeted tests contain 220 questions for focused study. Two separate 100-question, 180-minute mock tests help you practice the timing of the CMA Part 2 multiple-choice portion. Every question includes feedback for each answer option, an overall explanation, and a study tip so you can identify why a tempting alternative fails.

What you will practice

• Financial Statement Analysis: liquidity, cash cycles, leverage, returns, earnings quality, accounting differences, and meaningful company comparisons.
• Corporate Finance: risk and return, security valuation, capital costs, markets, working capital, restructuring, and international finance.
• Business Decision Analysis: CVP, relevant costs, capacity constraints, make-or-buy decisions, pricing, and target costing.
• Enterprise Risk Management: loss distributions, risk appetite, response costs, insurance limitations, common dependencies, and COSO framework distinctions.
• Capital Investment Decisions: incremental after-tax cash, working-capital timing, NPV, IRR, payback, sensitivity, and managerial flexibility.
• Professional Ethics: IMA principles and standards, fraud, resolution procedures, organizational culture, sustainability, and responsible data use.

The scope follows the IMA content specification and learning outcome statements effective September 2024, checked in October 2026. Each mock allocates 20 questions to financial statement analysis, 20 to corporate finance, 25 to business decision analysis, 10 to enterprise risk management, 10 to capital investment decisions, and 15 to professional ethics.

A practical study sequence

1. Use the four targeted tests to identify weak topics and assumptions you overlooked.
2. Before reading a solution, write the relevant cash flows, ratio definitions, or ethical duties in your own words.
3. Review feedback for the alternatives you considered, including answers reached by an incomplete calculation.
4. Attempt each mock in a single timed sitting, then return to the topics behind your errors.

The course's 80% benchmark is a study target, not a conversion to IMA's official scaled score or a guarantee of exam readiness. Review both accuracy and reasoning before deciding which topics need further study.

Exam and course boundaries

This is an independent BrightRung practice resource, not an official IMA course or a collection of actual exam questions. It contains MCQ practice rather than video lectures, interactive case-based tasks, or essay grading. The actual exam includes an additional constructed-response portion, whose 2026 format depends on testing window and region. Check your examination appointment's current requirements, particularly the published China, Japan, and Taiwan exceptions. These mock tests reproduce only the 100-question, three-hour MCQ portion and its domain allocation; they do not reproduce the official interface, score scale, or entire four-hour exam. No pass guarantee is offered.