Finding out that you're entitled to some exemptions from CIMA papers is always exciting. But sometimes, exemptions aren't as beneficial as you might think.
Our experience shows that for many students, accepting exemptions actually slows their progress through the CIMA qualification.
Exemptions are a benefit if your previous study was recent and if you found your degree or diploma course relatively straightforward. If not, it may be that you haven't got a strong enough base in these subjects to pass CIMA's rigorous exams. Studying and sitting those exams, rather than accepting the exemptions, may give you a better base for your future studies.
CIMA takes great care when awarding exemptions, but we cannot know your level of competency in all areas. You must make the right judgement about accepting exemptions for yourself.
How can I check?
To find out if exemptions are going to help you fast track or slow you down, answer the following questions honestly.
1. Were you last assessed in the subjects you are being offered exemptions in less than two years ago?
2. Did you achieve good marks in your exams?
3. Have you read the CIMA syllabus for the papers from which you are being exempt?
4. For the Professional Qualification papers, have you looked at CIMA's own examinations? You need to be confident that you could realistically have attempted the CIMA questions which can often to be of a very different style to those used in degree programmes.
5. Are you in relevant employment and using your accounting skills and knowledge regularly?
6. Are you familiar with having to answer exams in English?
If you have answered 'no' to one or more of the questions above, it may be a good idea to waive one or more of the exemptions offered to you and study the relevant papers instead.
Read the CIMA syllabus closely and have a look at previous exam papers to help you decide.
How can I waive exemptions?
If you would like to waive one or more of your exemptions, you must put this in writing to CIMA Contact. You can waive your exemptions even if you accepted them several years ago, provided you have not attempted exams at a higher level - for example, you may not waive your Certificate level exams if you have already sat Managerial level exams. The only exeption to this would be if you have demonstrated that you are struggling at the higher level, for example, by failing papers several times. In this case we would let you waive the exemption to the lower level paper so that you could go back and improve your knowledge.
You should bear in mind that if you do waive an exemption and then fail the exam, you will not be able to claim the original exemption back.
Email your comments or suggestions about this article to velocity@cimaglobal.com.