The exam is divided into various scenarios that allow a candidate to demonstrate his or her reasoning and analytical abilities in real-world settings. As part of the exam, the candidate will be asked to evaluate and assess a variety of business situations, formulate a solution based on his or her assumptions, and demonstrate how he or she came up with the solution. The examination has four sections: Introduction to Accounting, Concepts, Real Life Financial Management, and the Problems and Solutions section.
In the introductory part of the exam, the candidate should learn about the types of problems a business faces, the different areas of business accounting, and what types of information are needed for successful financial planning. The candidate will also need to learn about key concepts such as financial statements, balance sheet, cash flow, financial statements, and income statement, as well as how the financial statements are used.
After understanding these concepts, the candidate will be required to demonstrate his or her ability to analyze and evaluate a variety of financial scenarios and develop solutions that satisfy the stated financial needs of the business. This part of the examination involves demonstrating that a candidate has the ability to think and act rapidly, and the ability to develop strategies and problem-solve. For the problems section, the candidate must demonstrate his or her ability to understand the basic concepts involved in analyzing financial statements, formulate effective financial plans, and formulate an effective presentation. The candidate will be expected to demonstrate his or her ability to analyze financial and economic data, determine financial risk factors, and develop plans for controlling or reducing these risks.
The solutions section will also require the candidate to demonstrate his or her ability to use financial data and create an effective financial plan. The plan can consist of a single scenario, or it can include multiple scenarios that have similar results. The plan should be written using the most appropriate accounting software.
The final part of the exam requires the candidate to demonstrate that he or she can apply the strategies and techniques he or she learned during the study to real-life situations. In order to pass this section, the candidate must demonstrate that he or she can create realistic financial reports that demonstrate the effectiveness of the strategies and tactics he or she applied during the study period. The report must contain an analysis of the real-world situations, along with a description of how the financial solutions were used to improve the results.
In order to pass the AIPM CPM exam, candidates must take the test within the specified time frame. The exam is usually administered over two or three hours. Candidates who take the exam more than once will receive credit for passing their previous tests and earn a pass mark if they correctly answer all four sections of the examination.
To find out more about the requirements of this exam, applicants must contact the institution offering the exam. If you are interested in taking the exam, it may be in your best interest to find out how much it costs and when the actual exam will be taken.
As mentioned, the AIPM CPM exam can be taken in person or online. Candidates who take the exam online will have access to a virtual exam center where they can practice and learn from the experiences of other exam takers.
When taking the AIPM CPM exam, students should take note of the amount of time it takes to complete each section, and the number of questions they will answer. Taking this exam will give a prospective CPA a great indication of the level of experience required to pass the exam.
The AIPM CPM exam may sound difficult but the exam does not have to be. By taking the exam, potential CPAs will gain knowledge of the fundamental concepts involved in the practice area, as well as gaining experience in applying financial strategies and tactics. The knowledge gained will be valuable in future jobs.