The Exam

The Certified Finance Operations Manager Exam

Exam overview Exam framework Exam section weighting Retake policy Quick facts Exam prep & Certificate

Overview of the CFOM exam

The Certified Finance Operations Manager (CFOM) exam is a professional certification that validates a candidate’s expertise in managing and optimising the operational functions within the finance sector. It’s designed for professionals who oversee finance-related processes such as financial transactions, budgeting, forecasting, risk management, internal controls, and financial reporting.

This certification demonstrates that a professional possesses both strategic insight and practical knowledge to lead finance operations in a modern, dynamic business environment.

Sitting the exam

The exam is taken online within the IFOL Certification Academy, which is where you will also access the study materials and exam preparation resources. The exam is available on-demand and can be entered at a time and date which suits you.

The CFOM exam consists of 100 multiple choice questions and allows 90 minutes to answer all questions. Prior to the exam, you will be prompted to review the online course materials and any notes you have made throughout your studies

During the examination, you will have the opportunity to review the answers you have provided. When you have answered and confirmed your answer for all questions, your answers will be submitted and your final score calculated. Subsequently at the end of the exam you will receive a pass or fail mark. The minimum pass mark is 80%.

Finance Operations Manager Certification – Exam Framework

Total Questions:

100 questions

Format:

Online, mixed-format questions

Duration:

120 minutes (2 hours)

Minimum Passing Score:

80% (90% or more earns distinction)

Scoring Model:

Compensatory (no section minimum, overall score determines pass/fail)

Attempt Limit:

3 attempts per year

Tools Allowed:

On-screen calculator, scratchpad

Question Types:

Multiple Choice (MCQ)

Multi-select

Scenario-based case questions

Exam section weighting

The Finance Operations Manager Certification exam is structured to reflect the real-world responsibilities and risk areas overseen by senior finance operations professionals. Each section is weighted according to its relative importance in ensuring strong financial governance, operational excellence, and strategic oversight across the finance function.

Governance & Compliance (15%)

This is the foundation of all finance operations. It covers internal controls, regulatory requirements, SOX, and risk management—core competencies that safeguard the organisation and ensure reliable financial reporting.

Accounts Receivable Operations (15%)

AR performance directly affects cash flow, working capital, and customer relationships. This section evaluates operational accuracy, controls, credit management, and process optimisation.

Accounts Payable Operations (15%)

AP drives cost control, supplier relationships, and fraud prevention. The weighting reflects the critical role AP plays in operational efficiency and financial integrity.

General Ledger & Financial Close (15%)

The GL is the centre of financial reporting. This area tests candidates’ ability to ensure accuracy, timeliness, and governance throughout the close cycle.

Technology & Automation (15%)

Modern finance functions rely heavily on ERP systems, automation, and digital tools. This section assesses competency in leveraging technology to improve accuracy, efficiency, and compliance.

Strategic Leadership (15%)

Finance Operations Managers must lead teams, drive improvements, influence stakeholders, and support strategic objectives. This weighting reflects the leadership expectations of the role.

Advanced Governance, Audit & Treasury (10%)

This section brings together higher-level financial oversight, audit readiness, treasury controls, and enterprise-level risk management—key competencies for senior operational leaders.

Retake policy

Enrolees receive 3 attempts to pass the CFOM exam included with the initial enrollment fees, outlined below are the enforced time gaps between attempts.

24 hour wait after attempt 1

2 day wait after attempt 2

Max 3 attempts in 12 months

Note: each attempt uses a new randomised item pool

Quick Exam Facts

  • Exam results are provided immediately along with the digital certificate for those who pass
  • 86% of participants pass the exam first time
  • You must score atleast 80% to acheive a pass and be awarded the CFOM credential
  • You must complete The Finance Operations Manager course modules before taking an exam
  • The 120 question exam consists of multiple choice, multi-select and scenario based questions.
  • Exams are taken online and on-demand via the IFOL Certification Academy platform

Exam Preparation

You must prepare for the CFOM exam with the self-paced online course developed by The Institute of Financial Operations and Leadership (IFOL).

Learn more about the CFOM Course

The Certificate

Upon successfully passing an exam, you will be asked to provide your mailing address which we will use to post your official certificate recorded delivery service. It may take up-to 14 days for the certificate to reach you depending on your location, however in the meantime you will have immediate access to your digital certificate and credential which can be easily attached to your professional LinkedIn profile.

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