Strategic Level

The Strategic level has three objective test subjects: E3 (Strategic Management), P3 (Risk Management), and F3 (Financial Strategy). After passing all three objective tests, you sit the Strategic Case Study (SCS), a 3-hour integrative written exam. Passing the SCS leads to the CGMA designation.

Yes — E3, P3, and F3 can be sat in any order. However, you must pass all three objective tests before sitting the Strategic Case Study. You must also have completed the entire Management level (including the MCS) before sitting any Strategic level exams.

The Chartered Global Management Accountant (CGMA) is the professional designation awarded upon completing the CIMA qualification, including all four levels and meeting the practical experience requirement. It is one of the most respected management accounting designations worldwide.

The Strategic level is widely considered the most challenging due to the depth and breadth of the subjects. E3 requires extensive knowledge of strategic frameworks, P3 covers enterprise and cyber risk at board level, and F3 involves complex financial strategy and valuation calculations. The SCS demands board-level written analysis integrating all three subjects.