Chartered Member assessment FAQs

How much does the CMA cost?
The standard fee for each part of the CMA - the exam and the assignment - is $385 incl GST.

To make use of the free CMA offer, you need to sit at least the exam within six months of completing the Company Directors’ Course (CDC). Outside of the six months, the standard fees of $385 for each part of the CMA apply. If you do not pass the exam or the assignment, the standard resubmission fee of $325.00 for each part applies.

How much time do I need to study for the CMA?
It takes about 30 hours on average to prepare for and sit the exam, and a further 15-30 hours to prepare for and write the assignment. Please refer to the CMA Candidate Handbook for further information and study tips.

What is the timeframe for completing the Chartered Member Assessment (CMA)?
The CMA consists of two parts, the exam and the assignment. Both parts must be completed within three months.

Can I begin the CMA with the exam or assignment?
You need to complete the exam first, followed by the assignment. Once you have passed the exam you have three months to complete your assignment. 

What is the time frame for completing the written assignment?
From the date you receive the assignment case study you have three weeks to complete and submit your response.

Can I sit the CMA exam remotely?
The exam needs to be sat in person at an exam venue of your choice. When booking your exam on the Aspec portal, you can choose from multiple venues and locations.

I did the CDC before 2007; how do I start the CMA?
We recommend you consider attending a current five-day CDC. The course has been reviewed and modified several times since you first attended. Please contact cma@iod.org.nz for any support with starting your Chartered Membership Pathway.

I did the CDC between 2008-2023; how do I start the CMA?
You need to be confident of your practical director experience, which is critical when completing both the examination and assignment.

Observe the guidance in the CMA Candidate Handbook in your preparation and approach.

Review your CDC course materials, study the Four Pillars, and familiarise yourself with the Companies Act 1993 (and amendments). You might want to consider doing some more IoD courses to refresh your knowledge. Please contact cma@iod.org.nz for any support with starting your Chartered Membership Pathway.

As an Associate, can I start the CMA and upgrade to Chartered Member?
You can complete the CMA as if you were a Member, provided you have enough lived governance experience to pass both the exam and assignment. You need to be confident of your practical director experience, which is critical when completing both the examination and assignment. If you complete the CMA as an Associate, you will need to apply for an upgrade from Associate to Member on our website before being able to apply for an upgrade to Chartered Member. Please log into your IoD account to check whether you meet the criteria for Member and apply for the upgrade ‘Associate to Member’.

I don’t hold a board role, should I still start the CMA?
Our Rules require that before you can be upgraded to Chartered Member you need to be a member of the governing body of a qualifying organisation, and that your role is a governing role. A qualifying organisation must be an organisation with a meaningful separation of the executive function from the oversight and governance function.

Don’t worry if you don’t have a current board role because the assessment will never expire. You can upgrade to Chartered as soon as you obtain a qualifying directorship. Past roles cannot be considered for an upgrade.

CPD: Do I need to have 60 CPD points before applying to become a Chartered Member?
Points are not a criteria for entry to this category. CPD is a mandatory requirement for IoD Members, Chartered Members and Chartered Fellows. As a Chartered Member you will make an annual confirmation of your commitment to CPD.

What are the equivalent courses if I have not completed the Company Directors’ Course that allow me to apply for the CMA?
To date the IoD has recognised the AICD’s Company Directors’ Course and Waikato University’s G3 Postgraduate certificate in governance with equivalence for this purpose. For more details please refer to our website.

Is the Chartered Member Assessment managed through the IoD membership portal? Can I register for the CMA via Learn@Iod or the IoD member portal?
No. The IoD uses an external provider (Aspeq) to deliver the CMA) Aspeq was selected as the supplier for the CMA because they are able to provide supervised examinations. In order to be certain of a candidate’s ID, the registration process includes identification from the member that the IoD cannot provide directly to Aspeq.

Why can I not log in to the Aspeq exam portal?
Please check you are logging into the Aspeq exam portal and not the IoD member portal, and that you are using your Aspeq login details. Most members that cannot login either use the wrong credentials or try logging into the IoD portal.

Forgotten Password: why do I not receive emails from the Aspeq exam portal when I try to reset my password?
Please ensure you are checking the correct email account. Most members who think they do not receive these emails either find them in their Junk Mail/Spam Folder or forgot that they registered on Aspeq with a different email address.

Exam cancellation: what if I am sick on the day of my exam?
Please contact Aspeq directly on 04 913 9812 or email info@aspeq.com
Cancellations with valid reasons will be credited the full examination fee.  Valid reasons for cancellation include:

• Medical disablement (a medical certificate must be produced)
• Compassionate circumstances (proof may be required)
• Please refer to the Terms and Conditions on the online ASL candidate portal.
  
  I need to change my exam date; how can I do this?

All transfer requests must be completed in the Aspeq exam portal or by contacting Aspeq directly at least seven days before the booked examination. Transfers received less than seven days will not be processed and you will forfeit your exam fee and have to reapply for your exam. In exceptional circumstances please contact the Registrar.

You are able to transfer an examination booking from one date or centre to another. There is a $30 fee per exam to transfer an online booking.

To transfer an exam, log on to https://iodcma.aspeqexams.com then click on 'Bookings' and then 'View Bookings’. 

Click on the three dots next to the applicable booking, and click "Transfer Booking". You will be led through the booking and order confirmation process as when booking an exam.

Please refer to the Terms and Conditions on the online ASL candidate portal.

How do I order the CMA assignment?
First, you register the assignment on the Aspeq portal. This triggers an assignment record code that is sent to the IoD. Next, you either email cma@iod.org.nz with your preferred dispatch date, or you wait until the Chartered Membership Advisor emails you a few days after registering ,asking for your preferred dispatch date.

Note that registering for the assignment on the Aspeq portal doesn’t mean the assignment gets dispatched to you. You still need to choose a dispatch date.

Can you provide sample questions for the exam?
There are no sample questions available and we don’t have past exam papers, however on page seven of the CMA Candidate Handbook you find some samples of the style of questions and further information on the exam format. There is also a video clip on the Aspeq portal which gives you a short demonstration on what to expect on the day https://iodcma.aspeqexams.com/ (information/exam guide).

Please refer to the CMA Candidate Handbook to ensure you have all the materials to support your preparation for the exam.

Can I bring my own copy of the Four Pillars book or other materials to the exam?
You are not permitted to take any materials into the exam.

The exam is open book and at the venue you will be provided with a clean copy of The Four Pillars along with relevant sections of the Companies Act 1993 and a supplementary workbook.

Can I write my assignment with the help of a Study Group?
The aim of the assessment, including the assignment, is to ensure that Chartered Members on qualifying boards demonstrate their own knowledge and expertise. While sharing opinions and learnings post CDC via a ‘Study Group’ is welcome, each assignment needs to be an individual member’s own written words.

All assignments are checked for plagiarism via an online tool before they are uploaded for marking. Any findings of plagiarism either quoting external sources or past assignments word-by-word will be communicated to the markers. Members risk having points deducted for low-profile plagiarism (such as word-by-word quoting without naming the source). Any findings that imply that members have written the assignment together (even if not identical in wording) will be investigated.

Can I write my assignment with the help of a chatbot?
While ChatGPT and other artificial intelligence chatbots might be useful for research, it must not be used in the process of writing the assignment. Any proof that chatbots have been used in the process of writing the assignment may result in having points deducted or the assignment being withdrawn from marking.

Is there a style guide and a guide on how to make references for the assignment?
Yes, please refer to the assignment instructions included in the assignment dispatch email.

What is the timeframe for receiving results from my assignment and exam?
Your exam results notice and feedback can be accessed 24 hours after the exam by logging on to the online ASL candidate portal. Exam results are also communicated by the IoD via email within one week of sitting the exam.

Assignment results are communicated by the IoD via email within six weeks of submission.

If I am overseas for an extended period and I am a Chartered Member, am I still required to undertake CPD?
As a Chartered Member you are required to comply with the CPD requirement. You can still meet the CPD requirement while overseas.