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Certification Exams

TMA has launched a new Certification exam platform! Your registration confirmation will contain scheduling instructions.


TMA's exam process has been designed to meet your professional needs. No more traveling to take prep courses and the exams--everything is available 100% online. A deal comes up? No problem. Prepare for each exam at your convenience.

About the Certification Exams

The three topics covered by the certification exams are Accounting and Finance, Legal Principles, and Management.

  • Each Exam, covering Accounting and Finance, Legal Principles, or Management, is a multiple-choice test with 100 questions. You must earn a score of 70% or better to pass, and unanswered questions are graded as incorrect.

  • Exams are closed-book; no notes or other resources are allowed. A calculator and scratch paper are allowed. Your session will be monitored by a live proctor in a secure online environment.

  • Each certification exam is designed to assess advanced knowledge of the corporate renewal profession in the U.S.

  • Candidates have 24 months to pass all three exams.

  • There is no minimum waiting period if a retake is required.

Candidates who have earned the CIRA designation, offered by the Association of Insolvency & Restructuring Advisors (AIRA), are exempt from taking the Accounting and Finance exam. Candidates who have earned a Juris Doctorate are exempt from taking the Legal Principles exam. Candidates should indicate these exemptions on the CTA or CTP application form and must provide proof in order for an exemption to be granted.

Please click here to request an examination accommodation under Title III of the Americans with Disabilities Act.

Preparing for the Certification Exams

The certification exams are challenging and candidates should prepare well in advance of their scheduled testing date. Approximately 40 hours of preparation and study is recommended for each exam.

There are many ways to prepare for the examinations and a great deal of "what works best" is largely dependent on the individual’s learning style, studying preferences, level of experience, and prior knowledge.

It is strongly recommended that candidates read and review the Body of Knowledge (BOK) books prior to taking their examinations. More information about the books may be found here.

Sample Exam Questions  I  Answers to Sample Exam Questions


Exam Registration

Certification Exam registrations may be purchased individually or as part of a package that includes both the digital and print versions of their corresponding Body of Knowledge book. Additionally, candidates who wish to purchase all of their materials at once may do so and receive a substantial discount with the BOK and Certification Exam Bundle.

TMA understands the busy schedules of turnaround and restructuring professionals, and we have brought the Certification Exam process completely online to accommodate other demands for your time. No more traveling to testing sites or making special trips--the exams are conducted in an online testing environment, monitored by a human proctor. You sit for the Certification Exams in the comfort of your home or office, wherever you have a reliable internet connection.

After purchasing an Exam Registration, you will receive a confirmation email and instructions to schedule your appointment on the exam platform, Talview. You can review the Talview Candidate Guide here. Rescheduling or cancelling your appointment must be completed 2 business days prior to your exam using your Calendly scheduling link or by contacting certification@turnaround.org.

Exam Results

Following your exam, your proctor's exam session notes will be reviewed by TMA staff. You will receive your score and updated portfolio status via email on the Monday following your exam.

Digital Certification Exam Packages

Accounting and Finance Digital Certification Bundle

  • Includes the digital version of the Accounting and Finance BOK and the associated examination registration.

  • Now $440 -- save 20% compared to purchasing a la carte

Legal Principles Digital Certification Bundle

  • Includes the digital version of the Legal Principles BOK and the associated examination registration.

  • Now $440 -- save 20% compared to purchasing a la carte

Management Digital Certification Bundle

  • Includes the digital version of the Management BOK and the associated examination registration.

  • Now $440 -- save 20% compared to purchasing a la carte

Digital BOK and Certification Exam Bundle

  • Includes the digital version of all three BOK books and all three examination registrations.

  • Now $1,299 -- begin your path to certification now!

A la Carte

Accounting and Finance Certification Exam

  • $399 registration fee

Legal Principles Certification Exam

  • $399 registration fee

Management Certification Exam

  • $399 registration fee



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