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CIMA exemption fees

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I am considering starting CIMA.

I have completed AAT Level 4 and obtained MAAT status. This means I am able to skip the CIMA certificate qualification and begin at the professional qualification (operational level).

From the CIMA website, there are exemption fees. Since there are 5 CIMA certificate exams and the exemption is £64 per exam, am I correct in thinking I would need to pay £320 in exemption fees?

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