IDEAS
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CIMA Certification FAQs
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If you do not find the answer to your specific question below, please e-mail your question to IMCA's Certification Department or call 303.770.3377.
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How long has the CIMA certification program been in existence? |
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For more than 20 years. The first class of CIMA professionals graduated in 1988. |
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Do other organizations offer the designation? |
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No, IMCA holds exclusive rights to the CIMA certification.
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Where is the education requirement for certification offered? |
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The education requirement is offered at educational institutions that are Registered Education Providers with IMCA. Click here for more information about these institutions. |
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How many people currently hold the CIMA certification? |
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There are approximately 6,100 CIMA professionals. This number continues to increase steadily as awareness about the certification grows. |
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What are the qualifications for becoming a CIMA professional? |
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CIMA certification requires that candidates meet all eligibility requirements, including experience, education, examination, and ethics. Candidates must demonstrate a minimum of three years of financial services experience and complete five steps to earn the certification: submit an application with fee, and pass background check; pass the online Qualification Examination; complete the education requirement with a Registered Education Provider; pass the online Certification Examination; and sign a licensing agreement. Click here for more information about the certification process. |
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What does the application process consist of? |
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Applicants must complete the CIMA certification application and submit it to IMCA with payment. Once accepted, candidates will prepare for the Qualification Examination. All candidates must pass the Qualification Examination before being able to attend the educational portion of the process. Click here for more information. |
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What are the costs associated with the certification process? |
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The CIMA certification process offers a flexible, pay-as-you-go system that allows a candidate to budget accordingly and progress at his/her own pace. The total cost for certification ranges anywhere from approximately $7,000 to $11,000 depending on a candidate’s preferences. The majority of the fees are paid directly to a Registered Education Program provider for the education requirement. Current fees are outlined online. |
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Can my company reimburse my tuition? |
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Some companies do have reimbursement programs, but IMCA is not involved in establishing them. A candidate should contact his/her employer to determine if a reimbursement program exists or can be arranged. |
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What does the curriculum consist of? |
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Asset allocation, investment policy, manager search and selection, performance measurement and attribution, behavioral finance, risk management, derivatives, legal and regulatory environment, and ethics. |
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How long is the education requirement? |
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The education requirement is a five day classroom experience at an educational institution with a Registered Education Program for CIMA certification. |
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Does the CIMA certification process count for continuing education (CE) credit for other designations? |
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Yes. The CIMA education requirement provides CE credit for IMCA’s CIMC and CPWA designations. In addition, the attainment of the CIMA certification has been pre-approved for 60 hours of CE credit for the CFP® designation. Once certified, IMCA will report CE hours to CFP Board of Standards. IMCA also is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. For more information on NASBA standards, click here. |
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Once I become certified, how do I maintain my designation? |
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You will be required to recertify every two years by earning 40 hours of CE of which two hours must be ethics, pay a certification renewal fee and sign continued adherence to IMCA's Code of professional Responsibility and Standards of Practice. Click here for more information. |
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CIMA/CIMC License Renewal FAQs
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If you do not find the answer to your specific question below, please e-mail your question to IMCA's Recertification Department or call 303.770.3377.
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| When does my two-year certification renewal period begin? | |
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Your certification renewal period start date is the first day of the month that the certification is effective. The current period for each individual designee is available in the “My IMCA” section of the website. |
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Are there any fees associated with certification renewal? |
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Yes. Designees are responsible for paying a fee for every two-year certification renewal period. The fee is $105 for IMCA members or $500 for nonmembers. Nonmembers who wish to join IMCA may pay a $500 fee, which includes a two-year certification renewal fee ($105) and a one-year IMCA membership ($395). For full renewal details, download the Certification Renewal Application (PDF). |
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What are the continuing education (CE) requirements? |
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Each designee must complete and report 40 hours of continuing education during their two-year certification period. For designees whose certification period begins on or before June 20, 2009, the CE must include a minimum of 20 IMCA-sponsored hours and two ethics hours. For designees whose two-year certification period begins on or after July 1, 2009, there is no minimum IMCA-sponsored requirement. However, these designees are still responsible for completing and reporting 40 hours of CE (including two hours of ethics) per each two-year certification period. Those who have held the CIMA/CIMC designation for more than six years may find out more about their specific CE requirements by clicking here. All CE hours must be reported to IMCA prior to the expiration of your two-year certification period. For more specific information regarding CE requirements, click here. |
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How can I accumulate IMCA-sponsored continuing education hours? |
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IMCA offers a number of conferences, audio broadcasts, and quizzes for Investments & Wealth Monitor articles each year. These events offer an advanced breadth and depth of topics, a high caliber of speakers, and consistently high overall evaluation scores. For a listing of acceptable IMCA-sponsored continuing education programs, click here. |
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What subject matter is acceptable for continuing education? |
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The programming at IMCA conferences is accepted for continuing education and is convenient for designees to obtain. A listing of acceptable non-IMCA-sponsored continuing education topics can be found by clicking here. |
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Do CE hours earned for other designations I hold count toward the CIMA/CIMC certification renewal as well? |
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As long as CE subject matter is related to investment consulting and each session is a minimum of 50 minutes in length, the earned CE can count. A comprehensive listing of education topics can be found by clicking here. |
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Is there a link on the IMCA website to pre-approved industry course providers? |
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No. IMCA approves non-IMCA-sponsored programs on a case-by-case basis. However, you can request pre-approved CE credit for future non-IMCA-sponsored programs by submitting a detailed agenda (which includes subject matter and associated clock time). The request can be sent via fax, e-mail, or letter to the certification program manager at IMCA. You will be notified in writing of the pre-approved non-IMCA-sponsored CE credit. |
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What paperwork is necessary to report continuing education I have completed? |
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Each designee is responsible for submitting CE documentation for both IMCA-sponsored and non-IMCA-sponsored programs. Paperwork for IMCA-sponsored CE credits is available to participants at IMCA events. IMCA sponsored CE can be reported online, click here. Non-IMCA-sponsored hours may be reported to IMCA through the Non-IMCA Continuing Education Hours Submittal Form. Documentation must be mailed or faxed to IMCA. IMCA’s contact information and more information on reporting CE can be found by clicking here. |
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Is there a list of website “hot buttons” to various forms required for certification renewal? |
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Forms and online access for reporting IMCA-sponsored CE are available only to participants at IMCA events. The form for reporting non-IMCA-sponsored CE can be downloaded by clicking here, or you may click on the “Submit Your CE Hours” button in the right column of any page in the “CIMA” section of the website. |
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To report CE hours do I have to use multiple CE forms for multiple events? |
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IMCA conferences allow you to quickly and conveniently report your CE through the forms you receive onsite. For instructions on reporting non-IMCA-sponsored CE, click here. |
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How can I keep track of my continuing education credit? |
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You may check the continuing education hours that IMCA has accepted toward certification renewal by logging into your “My IMCA” account. You can log in to “My IMCA” from any page on the website by clicking the “My IMCA” link in the top right-hand corner of the website. Once you have logged in, click on the “CIMA Details” or the "CIMC Details" link on the front page or the “CIMA” link in the left-column navigation to check your CE status. |
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How long does it take for my certification record to be updated once I submit the appropriate CE documentation? |
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Please allow a minimum of two weeks from the CE submission to IMCA for your CIMA/CIMC record to be updated. You may check the CE hours that IMCA has accepted toward your renewal by logging into your “My IMCA” account on the website and clicking on the “CIMA Details” or the "CIMC Details" link at any time. |
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Why can’t I see my CE information on the website? |
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Only designees in good standing can review their CE information in the “My IMCA” section of the website. If you are a designee in good standing, be sure to check the current two-year certification renewal period dates that show in your online record. Only CE credit earned within the current two-year renewal period will display. |
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Can I get advanced CE approval for a program I plan to attend? |
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IMCA conferences are programmed with CE standards in mind, so attendees can be assured that attending IMCA events will help fulfill your CE needs. For non-IMCA-sponsored programs you may request pre-approved CE credit by submitting a detailed agenda (which includes subject matter and associated clock time). The request can be sent via fax, e-mail, or letter to the certification program manager. You will be notified in writing of the pre-approved non-IMCA-sponsored CE credit. |
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Is there more to certification renewal than just reporting CE hours? |
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Yes. In addition to the CE requirement, designees must pay a two-year certification renewal fee. For designees whose two-year certification period begins on or after July 1, 2009, a completed Certification Renewal Application must be submitted to IMCA with payment. It also is required that any customer disputes, disciplinary actions, court actions, or other U4 issues that initiate and/or resolve during the two-year certification period must be reported timely to IMCA. |
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How do I receive a Certification Renewal Application and invoice form? |
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IMCA will notify you in advance of your certification period expiration date. Notices are distributed at 90, 60, 30, and 15 days out from the certification expiration date. It is required that all contact information be maintained by the designee so all official notices can be delivered on schedule. The Certification Renewal Application Form and Invoice will be distributed to designees whose two-year certification period begins on or after July 1, 2009. |
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Can I process my Certification Renewal Application online? |
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The Certification Renewal Application Form and Invoice will be available only in hardcopy format. It will be delivered to all designees whose two-year certification renewal cycle begins on or after July 1, 2009, 90, 60, 30, and 15 days in advance of their certification period expiration date. If you are within 90 days of your certification renewal deadline, you may download the Certification Application Form and Invoice by logging in to your "My IMCA" account and clicking the "CIMA Details" or "CIMC Details" link. |
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When I complete my certification renewal am I formally notified of my next two-year certification period? |
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Yes. Upon meeting all the requirements to renew the CIMA/CIMC designation, a confirmation letter is mailed to the designee’s address of record advising him/her of the new two-year certification period and reminding him/her of the necessary renewal requirements. It is imperative that all contact information be maintained by the designee so all official notices and communications can be delivered on schedule to assist with renewal. |
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What happens if I cannot complete my certification renewal requirements within the two-year certification period? |
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If you cannot complete the requirements you will lose the rights to use the marks once the renewal period expiration date is reached. If a former CIMA certificant wishes to reinstate his/her right to use the CIMA marks, there are two options available. If reinstatement is applied for within six months of receiving the cease and desist letter the CE Option may be applied for, which requires reporting of additional CE hours. If application is made after six months of the cease notice the online CIMA® Certification Examination must be taken and passed. (If you are a few CE credits short of your 40-hour CE requirement, and your license has not yet expired you might consider registering for IMCA Audio Broadcasts, or Investments & Wealth Monitor quizzes worth one IMCA-sponsored CE hour each.) |
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What happens if I do not pay the certification renewal fee? |
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The certification renewal fee is one of the three requirements for certification. Designees who do not pay the certification renewal fee will lose their right to use the CIMA/CIMC marks. A formal cease and desist notice will be distributed to those who do not pay their renewal fee. The official notice is sent to the last address of record. |
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What happens if I do not sign the Certification Renewal Application? |
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Designees who do not complete, sign, and submit their Certification Renewal Application before their expiration date will lose their right to use the CIMA/CIMC marks as it is one of the three requirements for certification. A formal cease and desist notice will be mailed by certified mail to the last address of record to those who do not sign and submit their Certification Renewal Application. |
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If I receive notice to cease use of the certification, what are my options? |
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If a former CIMA designee wishes to reinstate his/her right to use the CIMA marks, there are two options available. If reinstatement is applied for within six months of receiving the cease and desist letter the CE Option may be applied for, which requires reporting of additional CE hours. If application is made after six months of the cease notice the online CIMA® Certification Examination must be taken and passed. A reinstatement application indicating which option is selected must be completed and returned to IMCA along with the appropriate fees to begin the reinstatement process. In order to obtain reinstatement of the designation, an applicant must disclose any complaints or disciplinary actions registered against him/her. There is no reinstatement option for the CIMC license. |
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Frequently Asked Questions: CIMA Certification and Renewal
For frequently asked questions regarding the CIMA® and/or CIMC® certification renewal process, click here.
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