All About CIMA Strategic level | Most Asked Questions Included

If you are a CIMA student, here are four words guaranteed to send a shiver down your spine. 

CIMA Strategic Level Exam. 

Wait! Don’t get scared and click on another link. Keep reading, as this post will help you face your biggest fear and guide you toward success. 

As you may already know, this level is the final rung on the ladder that leads towards the CGMA certification. It is all that stands between you and an accounting career. 

The CIMA qualification is one of the world’s finest finance qualifications. It leads to bigger and better opportunities within the country and abroad. The curriculum combines management and accounting skills, teaching you the essential tools to get the most coveted finance jobs. 

The CIMA Strategic level subjects help students master tactical skills, risk management and business acumen. Every company needs knowledgeable and capable professionals to help achieve its business goals. A candidate who has overcome the challenge of clearing the CIMA Strategic level syllabus will be in high demand. In the fast-paced, high-pressured corporate world, a CIMA credential gets you job-ready and on the cutting edge of industry developments. 

Read Why Cima Is One Of The Top Management Accounting Courses In India

What is the CIMA Strategic level?

The third and final level of the CGMA certification is what proves your mettle. The CIMA Strategic level syllabus offers students a thorough education in long-term decision-making and strategic skills. It teaches students how to implement financial strategies that enhance a company’s performance. Students also learn how to identify and tackle risk factors that could affect their business goals.

FAQs about the CIMA Strategic level

1. Does the CIMA Strategic level have an academic equivalent?

As the CIMA is a globally respected and recognised certification, the CIMA Strategic level is equivalent to a master’s degree in accounting.

2. What are the CIMA Strategic level subjects?

The third level contains the three following subjects: 

1. Strategic Management (E3)

This topic lays the foundation of the third level and talks about developing strategies to achieve specific organisational objectives.

2. Risk Management (P3)

Here, students learn the skills to identify and correct risks that could affect the devised strategies.

3. Financial Strategy (F3)

You will learn how to estimate the finances required for strategic implementation, along with measures to acquire the funds. 

3. What are the CIMA Strategic level exam details? 

• There are four exams in total – three objective tests and one CIMA Strategic level case study
• The objective papers contain different variants such as multiple choice, fill in the blanks, match the following, drag and drop, etc. 
• The case study is a subjective paper that tests your ability to apply the theoretical knowledge from the first three exams 
• As a manager of a fictional company, you will be required to present financial strategies to the senior management about business goals, the risks involved and budgets/funds to implement the action plans

4. What topics are covered in the three CIMA Strategic level subjects (E3, P3 and F3)?

E3 – Strategic Management 

• The strategy process
• Analysing the organisational ecosystem
• Generating strategic options
• Making strategic choices
• Strategic control
• Digital strategy

P3 – Risk Management 

• Enterprise risk
• Strategic risk
• Internal controls
• Cyber risk

F3 – Financial Strategy 

• Financial policy decisions
• Sources of long-term funds
• Financial risks
• Business valuation

5. Can you give more details about each of the three CIMA Strategic level subjects?

E3 – Strategic Management 

• This subject teaches students how to evaluate strategic options in the real world
• They learn through examples that help companies with growth expansion
• Internal and external factors that affect the environment of an organisation are also explored

P3: Risk Management

• This topic highlights the importance of managing risks faced by an organisation 
• Students learn how well-planned strategies can help prevent or overcome potential risks 
• They are taught the strategic ways to reduce risks that affect the business cash flows 

F3: Financial Strategy

• This subject is concerned with maintaining the fiscal health of the company through strategic planning 
• Students learn about capital structure and the different ways to raise finance 
• They are also taught how to handle dividends and use them for investment and growth purposes 

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6. How is the CIMA strategic level different from the previous two levels?

The operational level shows students how an organisation functions and the several effects of internal and external issues.  On clearing this level, you receive a CIMA diploma in management accounting. The second or management level focuses on making the right decisions to achieve the required business goals. On completion, you receive a CIMA advanced diploma in management accounting.

The CIMA Strategic level enables students to develop and execute financial strategies while handling potential risk factors. After passing this level and completing your work requirements, you become a member of the Chartered Institute of Management Accountants.

7. How are the papers structured and graded?

     8. Can I selectively study specific topics for the exams?

It is not a good idea to pick and choose the topics to study. All of them are important for the exams and for working as a professional. You must be thorough and fully prepared for any possible questions. It can be very difficult to pass the CIMA Strategic level papers if you do a selective reading. 

9. What are the different ways I can prepare for the CIMA Strategic level exam?

• Do not leave out any of the topics. The entire CIMA Strategic level syllabus is very essential. You never know what will be asked in the exam
• It helps to understand the concepts and not just memorise them. You will need to apply them during the case study paper
• Prepare a study plan that allows you enough time for revision
• As the exams are computer-based, ensure you download and practice on the exam editor in advance 
• Get acquainted with other exam materials such as the calculator and time value tables 
• Mock tests and practice papers are a great way to gauge your knowledge level. They also help you time your answers and understand the exam format better
• Ensure you spent enough time studying the pre-seen material. You must have clarity on the fictional company to accurately decode its financial condition

10. How does a coaching institution help me study the CIMA Strategic level subjects?

There are many advantages to attending coaching classes at a reputed professional academy. They have highly educated and experienced professors who can break down complex study material into easy-to-understand concepts. Most of the institutes have many resources that help you learn better. Also, your doubts and queries are addressed immediately, which removes all your mental blocks. 

Read Top 5 careers in the USA after CIMA

Proschool’s GMA course for CIMA Strategic Level 

As the winner of the CIMA platinum award in India, IMS Proschool is one of the few institutions with a record-breaking 80 percent passing rate for the CIMA course. The academy has helped many students get the training and skills they need to be CIMA-certified accounting specialists. Proschool offers a specialized GMA program for undergraduates and graduates, taught by some of the best professionals in the industry. This program provides additional skills and tools to help students master the CGMA syllabus. 

Here are a few more features of this exceptional course: 

• The GMA program offers two certifications – The Proschool GMA and NSDC
• The staff uses active learning methods to help students prepare for the CIMA Strategic level exams
• You can attend a live session at any of the coaching centres across India or take an online class
• You are trained to take on mid-level and upper-level management jobs more quicker 
• On completing the CIMA strategic level, you can avail of Proschool’s highly effective placement program 
• The institution also offers valuable career grooming by helping students with resume writing and the interview process 
• You are ready to enter the industry as an accounting and business expert 

In Conclusion 

When you are so close to the finish line, you must push yourself to overcome the last hurdle and emerge victorious. The CIMA strategic level is the final battle in your quest to become a global management accountant. All over the world, companies are looking for top-quality professionals for their accounting departments. They need employees with the right combination of finance skills and business savvy. The CIMA certification ensures you are the correct person for the job. The CIMA strategic level syllabus is designed to make you a sharp, capable accountant who is well-equipped to take on financial challenges. Once you receive your qualification, you can take the world by storm. 

Find out more about Proschool’s GMA course here