CIPM Exam Formats
Exam Timing
Each CIPM exam is 180 minutes; the clock starts when you click the
“Begin Exam” button.
There are no scheduled breaks during the exam. Candidates can take an
unscheduled break, but the 180-minute clock will continue to run for
the duration of the break.
We schedule 210 minutes for the exam to provide you with ample time
to read and sign the candidate pledge.
CIPM Principles Exam
The Principles exam emphasizes investment tools and inputs necessary
for performance evaluation and the provisions of the GIPS standards. The
questions primarily measure knowledge, comprehension, and application
outcomes.
Format: 100 multiple choice questions; each question has three answer
options
Time: Three hours (180 minutes)
Formulas: Review the formulas referenced and used in the Principles level exam (PDF).
CIPM Expert Exam
The Expert exam emphasizes performance evaluation and presentation,
including application of the necessary tools and inputs and the
GIPS guidance statements. The questions address all types of learning
outcomes, but focus on application, analysis, and evaluation.
Format: 80 item set questions (20 scenarios followed by four multiple
choice questions each); each question has three answer options
Time: Three hours (180 minutes)
Formulas: Review the Expert Level Formula Policy (PDF).