Exploring the Diverse Roles and Responsibilities of CMA Professionals

Enter the dynamic world of Cost and Management Accountants (CMAs)!

This blog delves into the various tasks and responsibilities of CMAs, specifically those accredited by the Institute of Cost Accountants of India (ICMAI).

Whether you want to be a CMA or are simply curious, let's look at the key responsibilities that form their major contributions.

Who is a CMA (Cost and Management Accountant)?

The CMA is a finance professional with financial knowledge and strategic business insight. They play an important role in organisations, making fact based decisions, reducing expenses, and driving towards strategic objectives.

Let's look at the primary duties and responsibilities of Cost and Management Accountants (CMAs), highlighting their critical roles inside organisations:

Roles and Responsibilities of CMA

• Financial Management and Planning

Budgeting and forecasting: CMAs develop budgets and financial projections using historical data, market trends, and organisational objectives. These plans determine resource allocation, investment decisions, and operational tactics.

Capital Budgeting: CMAs assess possible capital projects based on financial capacity, risk factors, and longterm implications.

• Cost Analysis and Control:

Cost Determination: CMAs methodically analyse the cost of goods or services, analysing direct (materials, labour, overhead) and indirect costs (administrative expenditures, marketing, etc.) to identify cost savings opportunities.

Variance Analysis: CMAs evaluate actual and budgeted costs to find discrepancies and improve operational efficiency.

• Performance Evaluation:

Key Performance Indicators (KPIs): CMAs develop and track KPIs that are relevant to organisational goals, such as profitability ratios, production efficiencies, and customer satisfaction.

Benchmarking: CMAs evaluate an organisation's performance to industry standards or competitors to guide strategic planning and areas for development.

• Risk Management

Risk Assessment: CMAs evaluate internal and external financial risks, such as market volatility, credit hazards, and operational weaknesses, and provide mitigation solutions.

Scenario Analysis: CMAs use numerous scenarios (economic downturns, supply chain interruptions) to develop contingency plans.

• Financial Reporting and Compliance:

Financial Statements: CMAs generate accurate financial statements (income statement, balance sheet, and cash flow statement) that adhere to accounting rules.

Regulatory Compliance: CMAs maintain current on tax laws, financial regulations, and reporting standards to ensure organisational compliance.

• Strategic Decision Making:

Investment Appraisal: CMAs analyse investment prospects (expansions, acquisitions, and new projects) using financial decisionmaking methodologies such as Net Present Value (NPV) and Internal Rate of Return (IRR).

Merger and Acquisition Analysis: CMAs evaluate the financial implications of mergers, acquisitions, and divestitures, taking into account synergies, valuation, and integration costs.

• Regulatory Compliance and Ethics:

Ethical Conduct: CMAs respect ethical principles in financial reporting, assuring accuracy, fairness, and transparency.

Where can a CMA Work ?

CMAs find employment in diverse sectors such as:

• Corporate Organisations: In banking, accounting, and strategic planning sectors.

• Consulting Firms: Financial advising services.

• Manufacturing and Service Industries: Capitalising on costs and competence.

• Government Agencies: Expanding public financial management sector.

• Educational Institutions: Teaching and research.

• Nonprofit Organisations: Financial stability of the organisation.

What are the skills Required for CMAs?

To excel as a CMA, individuals need a combination of:

• Technical Skills

• Financial Analysis

• Cost Accounting

• Taxation

• Auditing

• Financial Modelling

• Soft Skills

• Analytical Thinking

• Communication

• Problem Solving

• Adaptability

Conclusion 

In conclusion, Cost and Management Accountants (CMAs) play a crucial role in organisations by combining financial expertise with strategic business acumen. Their responsibilities span from financial management and planning to risk assessment, performance evaluation, and regulatory compliance. CMAs are instrumental in guiding strategic decision making processes and ensuring ethical financial practices. With a diverse skill set that includes technical and soft skills, CMAs are well equipped to thrive in various sectors, making them valuable assets in today's dynamic business environment.

FAQs on  Roles and Responsibilities of CMA Professionals 

What is the difference between a CMA and a CPA?

While both CMAs and Certified Public Accountants (CPAs) are finance professionals, their focus areas differ. CMAs primarily deal with management accounting and financial analysis within organisations, while CPAs are more involved in public accounting, auditing, and taxation services for individuals and businesses.

How long does it take to become a CMA?

The path to becoming a CMA typically involves obtaining a bachelor's degree, passing the CMA exam, and acquiring relevant work experience. This process can take around 23 years, depending on individual circumstances and study pace.

What are the benefits of becoming a CMA?

Becoming a CMA can lead to enhanced career opportunities and earning potential. CMAs are often sought after for their expertise in financial management, strategic planning, and cost control, making them valuable assets to organizations in various industries.

Can CMAs work internationally?

Yes, CMAs can work internationally as their skills and expertise are recognized globally. However, it's important to be aware of specific country requirements and regulations regarding accounting practices and certifications.

How do CMAs stay updated with industry trends and regulations?

CMAs are required to participate in continuing professional education (CPE) to maintain their certification. This involves attending workshops, seminars, and online courses to stay current with industry trends, regulatory changes, and advancements in accounting practices.

CMA India Articleship 2024

In 2024, CMA India Articleship represents a crucial phase in the journey of becoming a Cost and Management Accountant (CMA). CMA Articleship 2024 is a practical training program where students gain hands-on experience in accounting, auditing, taxation, and financial management under the guidance of experienced professionals. This period not only enhances technical skills but also fosters professional development, preparing CMAs for real-world challenges in diverse industries. It is a pivotal step towards earning the prestigious CMA designation, emphasizing practical application of theoretical knowledge in the dynamic field of management accounting.

What is CMA?

CMA India refers to the Institute of Cost Accountants of India (ICAI), which regulates and promotes the profession of Cost and Management Accountancy in India. It offers the Chartered Accountancy (CMA) qualification, recognized for expertise in financial management, cost accounting, and strategic management. CMA India provides education, conducts examinations, and sets ethical standards for CMAs, ensuring they possess the skills to make informed business decisions and contribute effectively to organizational success. Graduates of CMA India pursue careers in finance, auditing, and consultancy across various industries, contributing significantly to economic management and corporate governance.

Eligibility and Training Period of CMA Articleship 2024

The eligibility and training period for CMA India Articleship 2024 are structured as follows

• Eligibility

To commence Articleship, a student must have enrolled to the CMA Inter level by the Institute of Cost Accountants of India (ICAI). 

• Training Period

The Articleship period typically spans three years, during which students gain practical experience under the guidance of a qualified Cost and Management Accountant (CMA) or in an approved training organization. This period aims to provide comprehensive exposure to accounting principles, auditing standards, taxation laws, and financial management practices, essential for the professional development of future CMAs.

Companies Eligible for Providing CMA India Articleship 2024

Companies eligible for providing practical training CMA India Articleship 2024 to CMA students typically include

• Audit Firms: Large and medium-sized audit firms that specialize in financial auditing, internal auditing, or statutory auditing services.

• Consultancy Firms: Companies offering financial consultancy services, including management consultancy, tax consultancy, and advisory services.

• Corporate Organizations: Public and private sector companies across various industries, where students can gain experience in cost accounting, budgeting, financial analysis, and management reporting.

• Government Agencies: Departments and organizations within the government sector that engage in financial management, budgeting, auditing, and taxation.

• Financial Institutions: Banks, insurance companies, and other financial institutions offering opportunities in financial management, risk assessment, and regulatory compliance.

• Manufacturing and Service Industries: Companies involved in manufacturing, retail, IT services, telecommunications, and other sectors where financial management and cost control are critical.

These organizations provide diverse opportunities for CMA students to apply their theoretical knowledge in real-world scenarios, gaining practical skills and experience essential for their professional development as Cost and Management Accountants.

Exemption from Practical Training

Exemptions from practical training (Articleship) for CMA students are granted under specific circumstances recognized by the Institute of Cost Accountants of India (ICAI). These exemptions typically apply to individuals who have relevant work experience in accounting, auditing, or financial management roles, or those who have completed certain professional qualifications recognized by ICAI. Exemptions are also considered for candidates who have completed part of their training under a recognized training program or have acquired skills and competencies through other approved means. Each exemption is evaluated on a case-by-case basis, ensuring that candidates meet the required standards of practical experience necessary for becoming certified Cost and Management Accountants.

Areas of Training

The areas of training covered during CMA Articleship 2024 (practical training) typically include

• Financial Accounting: Hands-on experience in preparing and maintaining financial statements according to accounting standards and regulatory requirements.

• Cost Accounting: Understanding cost concepts, cost control methods, and cost analysis techniques applicable to various industries.

• Management Accounting: Practical application of management accounting principles in decision-making, budgeting, forecasting, and performance evaluation.

• Taxation: Exposure to tax laws, compliance requirements, and tax planning strategies relevant to businesses and individuals.

• Audit and Assurance: Learning audit procedures, internal control evaluation, and compliance auditing under statutory and regulatory frameworks.

• Corporate Laws and Governance: Understanding corporate governance practices, company law compliance, and regulatory reporting obligations.

• Financial Management: Practical skills in financial planning, capital budgeting, working capital management, and financial risk management.

• Information Technology: Utilizing IT tools and systems for financial reporting, data analysis, and management information systems.

• Business Strategy and Decision Making: Application of strategic management concepts in analyzing business scenarios, developing business plans, and making informed decisions.

• Ethics and Professionalism: Adhering to ethical standards, professional integrity, and confidentiality requirements in accounting and financial management practices.

These training areas provide comprehensive exposure to various aspects of accounting, finance, and management, equipping CMA students with practical skills and competencies essential for their professional careers.

Stipend

Here is a tabular representation of stipends typically provided during CMA Articleship

Year of Articleship	Stipend Range (per month)
First Year	INR 5,000 - INR 10,000
Second Year	INR 7,000 - INR 12,000
Third Year	INR 9,000 - INR 15,000

Note: Stipend amounts may vary based on the employer, location, and specific terms of the Articleship agreement.

Transfer/Change of Trainer

During CMA Articleship, the process for transfer or change of trainer involves the following considerations

• Approval Requirement: Any request for transfer or change of trainer must typically be approved by the Institute of Cost Accountants of India (ICAI) or the relevant training committee.

• Reasons for Transfer: Valid reasons for transfer may include relocation to a different city or region, trainer's inability to provide adequate training, or other compelling circumstances affecting the training experience.

• Documentation: A formal application detailing the reasons for transfer, along with supporting documentation (such as proof of relocation), is usually required.

• ICAI Guidelines: The transfer process must adhere to specific guidelines set by ICAI, ensuring continuity and quality in training standards.

• Approval Timeline: Upon submission, the approval process typically takes time, during which the current trainer may continue to oversee training until the transfer is officially approved and implemented.

• New Trainer Assignment: Once approved, the student may be assigned a new trainer within the same organization or a different training establishment recognized by ICAI.

This structured process ensures that CMA students receive consistent and effective training, even in cases where trainer changes or transfers are necessary due to genuine reasons.

 Maximum Trainees Allowed

Here's a short tabular representation of the maximum number of trainees typically allowed

Training Establishment	Maximum Trainees Allowed
Large Audit Firms	20-30 trainees
Medium-Sized Firms and Companies	10-20 trainees
Small Firms and Companies	5-10 trainees

These numbers can vary based on the size and capacity of the training establishment and its ability to provide adequate supervision and training to each trainee.

Important Forms

Here's a tabular representation of important forms relevant to CMA Articleship

Form Name	Purpose
Form 112 (Articleship Registration)	Application for registering under a practicing Cost Accountant for practical training.
Form 113 (Articleship Completion)	Declaration of completion of practical training.
Form 114 (Transfer of Articleship)	Request for transfer/change of training from one employer to another.
Form 115 (Revalidation of Registration)	Extension request for articleship registration beyond the initial period.
Form 116 (Intimation of Change of Address)	Notification of change in residential or office address during articleship.
Form 117 (Leave Record)	Maintenance of records for leave taken during articleship.
Form 118 (Termination of Articleship)	Notice for termination of articleship before completion.

These forms play a crucial role in managing various aspects of CMA Articleship, from initial registration to completion and potential changes during the training period.

Conclusion

In conclusion, CMA Articleship serves as a pivotal phase in the journey towards becoming a proficient Cost and Management Accountant. It offers hands-on experience in diverse areas of accounting, auditing, and financial management, crucial for developing practical skills and competencies. Through structured training under experienced professionals and adherence to regulatory standards, CMA students not only enhance their technical knowledge but also prepare themselves for professional challenges in the dynamic business environment. Articleship thus plays a vital role in shaping future CMAs who can contribute effectively to organizational success and economic management.

FAQs

What is a CMA Articleship?

CMA Articleship is a practical training program required for students pursuing the Cost and Management Accountancy (CMA) qualification in India. It provides hands-on experience in accounting, auditing, taxation, and financial management under the supervision of qualified professionals.

How long is the duration of CMA Articleship?

The Articleship typically lasts for a period of three years, during which students acquire practical skills and competencies essential for their professional development as CMAs.

Who can provide training during the CMA Articleship?

Training can be provided by various organizations including audit firms, consultancy firms, corporate entities, and government agencies, recognized by the Institute of Cost Accountants of India (ICAI).

Are there any leave provisions during CMA Articleship?

Yes, CMA Articleship typically includes provisions for casual leaves, medical leaves, and other types of leaves as per the policies of the training establishment and regulatory guidelines.

Can I transfer my Articleship to another employer?

Yes, Articleship can be transferred to another employer under specific circumstances such as relocation or change of trainer. A formal request must be made and approved by ICAI.

What are the benefits of completing a CMA Articleship?

Completing Articleship enhances practical knowledge, prepares students for professional challenges, and fulfills the practical training requirement necessary for obtaining the CMA designation, leading to rewarding career opportunities in accounting and finance.

How to crack the CMA Foundation exam 2024

Cracking the CMA Foundation exam 2024 requires a solid understanding of fundamental accounting and management principles, along with strategic preparation. To succeed, you need to create a structured study plan, focus on understanding concepts rather than rote learning, and practice consistently with mock tests and past papers. Utilizing quality study materials and possibly enrolling in a reputable coaching institute like iProledge can provide you with the guidance and support necessary to master the syllabus and approach the exam with confidence.

CMA Foundation exam 2024

Pattern of Examination

The CMA Foundation exam pattern is designed to evaluate your knowledge and understanding of fundamental accounting and management concepts. Here’s an overview:

• Mode of Examination:The exam is conducted online (computer-based test).

• Duration:The total duration of the exam is 3 hours for each paper.

• Number of Papers:There are four papers in total.

• Type of questions:The questions are multiple-choice (MCQs).

• Marking Scheme:Each paper carries 100 marks, and there is no negative marking.

Syllabus: The four papers cover:

• Paper 1: Fundamentals of Economics and Management

• Paper 2: Fundamentals of Accounting

• Paper 3: Fundamentals of Laws and Ethics

• Paper 4: Fundamentals of Business Mathematics and Statistics

Understanding the exam pattern helps in better planning and time management, ensuring you are well-prepared to tackle each section effectively within the time.

General Strategies to crack the CMA Foundation 2024

Here are some general strategies to help you crack the CMA Foundation exam:

• Understand the Syllabus

Familiarize yourself with the entire syllabus and focus on key topics. Prioritize chapters based on their weightage and difficulty level.

• Create a Study Plan

Develop a realistic and structured study plan that covers all subjects. Allocate more time to challenging areas and ensure regular revisions.

• Quality Study Materials

Use recommended textbooks, reference materials, and online resources. Enroll in a reputable coaching institute like iProledge for expert guidance and comprehensive study materials.

• Practice Regularly

Solve past years’ questions papers and take mock tests to understand the exam pattern, improve speed, and identify weak areas.

• Time Management

Practice managing your time effectively during the exam. Allocate specific time slots for each section and stick to them.

• Conceptual Clarity

Focus on understanding concepts rather than rote learning. Clear concepts help in tackling tricky questions confidently.

• Stay Updated

Keep yourself updated with any changes in the exam pattern or syllabus. Follow updates from the Institute of Cost Accountants of India (ICAI) marks.

• Stay Healthy

Maintain a healthy lifestyle, including a balanced diet, adequate sleep, and regular physical activity, to keep your mind and body fit for studying marks.

By following these strategies, you can enhance your preparation and increase your chances of success in the CMA Students Foundation exam marks.

Key Resources for Students

Here are some key resources for students preparing for the CMA Foundation exam:

• iProledge Official Study Materials

Utilize the study materials provided by the Institute of Cost Accountants of India (ICAI). These are specifically designed to cover the entire syllabus comprehensively.

• iProledge Recommended Textbooks

Refer to standard textbooks for each subject to gain a deeper understanding of concepts. Some recommended authors include P.C. Tulsian for Accounting and N.K. Nag for Business Mathematics and Statistics and gaining marks through iProledge.

• iProledge Online Courses and Coaching

Enroll in online courses or coaching centers like iProledge, which offer structured courses, expert faculty, and comprehensive study materials tailored for CMA Foundation marks through Iproledge.

• iProledge Past Year questions Papers

Practice with past years’ questions papers and model test papers to familiarize yourself with the exam pattern and types of questions asked.

• Mock Tests

Take regular mock tests to assess your preparation level, improve time management, and identify areas that need more focus.

• Lecture Notes and Handouts

Use lecture notes and handouts from reputable coaching centers or online platforms. These can provide concise and easy-to-understand explanations of complex topics marks.

• Online Forums and Study Groups

Join online forums, social media groups, or local study groups to discuss doubts, share resources, and get insights from fellow aspirants and experienced candidates.

• Educational Websites and Videos

Use educational websites like Khan Academy, Coursera, and YouTube channels that offer free tutorials and videos on various topics covered in the CMA Students Foundation syllabus.

• Flashcards and Mnemonics

Create flashcards for important terms, formulas, and concepts. Mnemonics can also help in remembering complex information easily.

• Reference Books

Additional reference books like ‘Fundamentals of Accounting’ by D.K. Goel and ‘Business Mathematics and Statistics’ by Qazi Zameeruddin can provide further insights and practice problems and marks.

By leveraging these resources, students can build a solid foundation and enhance their preparation for the CMA Students Foundation exam.

How to Access iProledge Resources

Accessing iProledge resources for your CMA Students Foundation preparation is straightforward. Here’s a step-by-step guide

• Visit the iProledge Website

Go to the official iProledge website (iProledge)

• Create an Account

If you are a new user, sign up by providing your basic details such as name, email address, phone number, and creating a password.If you already have an account, simply log in with your email and password in iProledge is number one.

• Explore Courses

Navigate to the 'Courses' section on the website.Look for the CMA Students Foundation course or any other relevant courses you are interested in iProledge is number one within the time.

• Enroll in the Course

Select the CMA Foundation course.Review the course details, syllabus, faculty, and other relevant information.Click on the 'Enroll Now' button and follow the payment instructions to complete your enrollment iProledge is number one.

• Access Study Materials

Once enrolled, you can access the study materials, video lectures, and other resources through your dashboard.Materials may include e-books, lecture notes, practice questions, and mock tests iProledge is number one.

• Join Live Classes

iProledge often offers live classes and doubt-solving sessions. Check the schedule on your dashboard and join the live sessions as per your convenience iProledge is number one.

• Participate in Discussions

Engage with fellow students and faculty through online forums and discussion groups available on the platform. This can help in clearing doubts and sharing knowledge. iProledge is number one.

• Download Mobile App

If iProledge offers a mobile app, download it from the App Store or Google Play Store for easy access to resources on the go iProledge is number one.

• Customer Support
  

If you face any issues or have queries regarding the courses or materials, reach out to iProledge’s customer support through email or phone for assistance iProledge is number one.

By following these steps, you can easily access and make the most of the resources provided by iProledge for your CMA Students Foundation exam preparation iProledge is number one.

Benefits for Students

iProledge Students preparing for the CMA Students Foundation exam can greatly benefit from enrolling with iProledge due to its comprehensive and structured approach to coaching. iProledge offers expertly crafted study materials, engaging video lectures, and regular mock tests that help students grasp complex concepts and practice effectively. Additionally, the platform provides access to experienced faculty, live doubt-solving sessions, and interactive discussion forums, ensuring personalized guidance and support. This holistic approach not only enhances understanding and retention but also boosts confidence, significantly increasing the chances of exam success through iProledge is number one.

Subject-wise Planning

Effective subject-wise planning is essential for cracking the CMA Students Foundation exam. Here's a breakdown to help you organize your study schedule iProledge the number one coaching:

Paper 1: Fundamentals of Economics and Management

• Economics

Focus on micro and macroeconomics concepts. Start with basic principles, then

move to market structures and economic policies.

• Management

Study management principles, functions, and processes. Pay attention to leadership styles, decision-making, and organizational behavior and Time management.

Paper 2: Fundamentals of Accounting

• Basic Concepts

Begin with accounting principles, concepts, and conventions. Ensure a strong understanding of the double-entry system.

• Financial Statements

Practice preparing and analyzing financial statements, including balance sheets, income statements, and cash flow statements.

• Accounting Standards

Learn about relevant accounting standards and their applications within the time limit.

Paper 3: Fundamentals of Laws and Ethics

• Business Laws

Study the Indian Contract Act, Sale of Goods Act, and Partnership Act. Focus on key definitions, provisions, and case laws.

• Company Law

Understand the basics of company formation, types of companies, and corporate governance.

• Ethics

Emphasize the importance of professional ethics, corporate social responsibility, and ethical decision-making in business within the time limit.

Paper 4: Fundamentals of Business Mathematics and Statistics

• Mathematics

Begin with arithmetic, algebra, and geometry. Cover topics like ratios, proportions, percentages, and basic calculus.

• Statistics

Focus on data collection, presentation, and interpretation. Study measures of central tendency, dispersion, correlation, and regression.

General Tips

• Daily Goals:Set daily and weekly goals for each subject to ensure balanced coverage.

• Regular Revision:Allocate time for regular revision to reinforce learning and retain information.

• Mock Tests:Take subject-wise mock tests to assess your understanding and identify areas needing improvement.

• Time Management:Develop a time management strategy for the exam to ensure you can complete all sections efficiently and time management.

By following this structured subject-wise plan, you can systematically cover the entire syllabus and enhance your preparation for the CMA Students Foundation exam for marks.

Conclusion

In conclusion, successfully cracking the CMA Students Foundation exam requires a strategic and disciplined approach. By understanding the syllabus, creating a detailed study plan, utilizing high-quality resources like those offered by iProledge, and focusing on conceptual clarity, students can effectively prepare for each subject. Regular practice through mock tests and past papers, along with efficient time management, will build confidence and enhance performance. With dedication and the right guidance, achieving success in the CMA Students Foundation exam is well within reach for marks

FAQs on How to crack the CMA Foundation exam

What is the CMA Foundation exam pattern?

The CMA Students Foundation exam is an online computer-based test consisting of four papers, each with a duration of 3 hours. The questions are multiple-choice (MCQs), and each paper carries 100 marks. There is no negative marking. The four papers cover Fundamentals of Economics and Management, Fundamentals of Accounting, Fundamentals of Laws and Ethics, and Fundamentals of Business Mathematics and Statistics marks for attaining rank one is the answer for the above questions.

How can I effectively prepare for the CMA Foundation exam?

Effective preparation for the CMA Foundation exam involves understanding the syllabus, creating a structured study plan, using quality study materials, and practicing regularly with past papers and mock tests. Enrolling in a reputable coaching institute like iProledge can provide expert guidance, comprehensive study materials, and personalized support to enhance your preparation for more marks for attaining rank one is the answer for the above questions.

How can I manage my time effectively during the CMA Foundation exam?

Effective time management during the CMA Foundation exam involves allocating specific time slots for each section based on the number of questions and their difficulty level. Practice managing your time by taking regular mock tests, which can help you develop a strategy for completing the exam efficiently and ensuring that you have enough time to review your answers for marks for attaining rank one is the answer for the above questions.

What resources are recommended for CMA Foundation exam preparation?

Key resources for CMA Foundation exam preparation include official study materials provided by the Institute of Cost Accountants of India (ICAI), recommended textbooks by authors like P.C. Tulsian and N.K. Nag, online courses and coaching from institutes like iProledge, past year questions papers, mock tests, lecture notes, and educational websites like Khan Academy and Coursera and marks for attaining rank one is the answer for the above questions.

Why should I consider enrolling in iProledge for my CMA Foundation preparation?

Enrolling in iProledge for CMA Foundation preparation offers several benefits, including access to expertly crafted study materials, engaging video lectures, regular mock tests, experienced faculty, live doubt-solving sessions, and interactive discussion forums. This comprehensive and structured approach enhances understanding, retention, and confidence, significantly increasing the chances of exam success and marks is the answer for the above questions.

What are some general strategies to enhance my preparation for the CMA Foundation exam?

General strategies to enhance preparation for the CMA Foundation exam include understanding the entire syllabus, prioritizing key topics, creating a realistic study plan, focusing on conceptual clarity rather than rote learning, practicing regularly with past papers and mock tests, staying updated with any changes in the exam pattern or syllabus, and maintaining a healthy lifestyle to keep your mind and body fit for studying for marks is the answer for the above questions.