What is the CRMA certification cost? Is this investment worth it in the long run?
Here is a list of various CRMA certificate fees (in US dollars) for quick reference. You can find further explanation below.
|Membership type|| IIA
|1. Membership fee||$270 *||—|||
|3. Exam registration||$445||$580|||
* Membership fees vary in different countries. In the US, the fee ranges from $50 for students to $270 for regular professionals. Source: IIA
You don’t need to be an IIA member to take the CRMA exam (unless you live in Singapore—that’s the one exception). However, it makes sense for you to apply because the discount often offsets the membership fee.
The difference from the IIA CRMA exam alone may not justify the membership, but if you take the CIA exam into account, then you are definitely better off as an IIA member.
If we look beyond the monetary benefits, joining the membership keeps you up to date on industry news and enhances your networking effort in the community.
Unlike the membership, this application fee is mandatory. You get a reduced price as an IIA member.
For now, this application fee is valid for 4 years. If one fails to pass the CRMA within this period and would like to try again, he/she must pay again.
However, the IIA has announced some CRMA changes that will be implemented by mid-2021. After the CRMA 2021 program updates, the application fee will only be valid for 2 years instead of 4.
Candidates must this registration fee each time they sit for the exam. The fee is the same for first-timers and retakers.
Most candidates get a copy of the CRMA Exam Study Guide and the CRMA practice questions, which cost about $99 each. Click here to learn more about these materials.
Some candidates may need to travel to another city or even country to take the exam. In this case, travel and accommodation costs should be counted in the budget.
For a typical candidate including IIA membership, the cost is about $810 (for IIA membership, application, and registration) + $200 (for review materials and travel) = Around $1,000
Check out our CRMA master page for further information on this exam.
I am the author of How to Pass The CPA Exam (published by Wiley) and the publisher of this and several accounting professional exam prep sites.