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New tier pricing for CIMA exams
CIMA is introducing a tiered pricing system for its exams, based on three new regions.
A spokesman told PQ magazine that the purchasing power of some currencies in Africa have fallen by 50%, and CIMA had became concerned that if it did not act students would no longer be able to study with the accountancy body.
The world according to CIMA has been split into three: Western Europe, Rest of the World and Africa. The Western Europe region includes Turkey, Australia, Singapore, the US and Canada.
CIMA has said that for students in Western Europe regions the cost of exams will go up on average 5.5% (or £6.20).
The institute promised the changes, which take effect on 1 July 2016, were ‘net neutral’ for CIMA. Any student who has already booked an exam after this date won’t be asked for more money. However, if you now book an exam after 1 July you will pay the tiered price.
The spokesman stressed that CIMA wants to help businesses succeed everywhere, and to do this it needed to reflect exchange rate anomalies. The move means students fees in sub-Saharan Africa will go down by 16–17%.
As part of a broad review CIMA also revealed students will soon be able to pay CIMA via PayPal. The institute apparently still receives bank drafts from some students, which have a big hidden cost for these PQs. “We have to make CIMA easier to do business with,” explained the spokesman, “and this is one way of doing this.”
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