CMSA® Program Updates

Archive of Changes

Update 1.1

Announcement Date Effective Date
July 5, 2021 September 1, 2021

Summary of Changes

  • Introduced the  CMSA® final exam as a program requirement to increase the value and credibility of the certification worldwide; protect the integrity of our program and those who work hard to complete it; help students assess their knowledge and identify opportunities for improvement.  Visit our article to learn more about the CMSA® final exam.
  • The Introduction to Hedge Funds Course moved from an elective to a core requirement for program completion.


For new and current students who completed the current program requirements on or after September 1, 2021, the CMSA® final exam will be a mandatory requirement in order to earn your CMSA® certification.

The exam will also be available and optional to all existing CMSA® certification holders and students who complete their studies before September 1, 2021.