The ACA Certificate level Management Information exam is usually sat toward the later stages of the Certificate level. This exam teaches candidates how to prepare financial information for the management of a business.
I would say that this exam is quite useful in terms of how the content is likely to impact your day-to-day work. It should also be noted that this exam is built on or tested further in the later stages of the ACA, particularly in the later Financial Accounting and Reporting and Strategic Business Management.
Overview of ACA Management Information Exam
|Costing and pricing + 5 Ethics||25%|
|Budgeting and Forecasting||25%|
|Performance management and management information operations||25%|
|Management Decision Making||25%|
Method of assessment
The Law exam itself is 1.5 hours and given it forms part of the Certificate level, it can be sat at any time. As such, in the exam you will be set random questions from a question pool and so you will not be answering the same questions as many of your peers.
The exam consists of a long form question which is worth 20% of the marks, with the remaining 80% being made up of 32 multiple choice questions.
How to pass ACA Management Information Exam
My biggest tip for this exam would be to really master the long form questions. There are a limited number of long form question types you can be asked, and so learning to nail these will allow you to pick up most of 20% of the total marks from the outset.
Aside from taking care of the long form question, even more so than the other Certificate level exams, the MI exam questions are VERY similar to those in the question bank. Therefore take the QB seriously as that will be your best friend in passing the MI exam!
How hard is the ACA Management Information Exam?
I would say that this is middle of the road in terms of difficulty when compared to all 15 ACA exams. I found this exam very formulaic, and once you had learnt how to answer each question type you became very confident in passing the exam.
I would give this exam a 2 out of 5 for difficulty.
The pass rate for this exam is 81.5%