Chartered Member Assessment

The Chartered Member Assessment is a key criterion for entry to the category of Chartered Member. It has been our aim to deliver a robust assessment that can provide assurance that Chartered Members have met standards of knowledge and skill to support them to carry out their duties.

Candidates are assessed on their knowledge of The Four Pillars of Governance Best Practice, and the content of the Company Directors' Course (CDC). 

The CMA has two parts:

  • computer-based multi-choice exam (75 minutes)
  • 3,000 word assignment based on a case study (3 weeks to complete)

Both parts must be completed within a three month period.

Candidates must attain 70% or higher in both the exam and assignment to pass the assessment.

Criteria
In order to sit the assessment candidates must have completed the IoD's Company Directors’ Course (CDC) or equivalent*. 

Some IoD members have been practising directors for some length of time and have not completed the CDC. In this case the option to apply for Recognition of Prior Learning (RPL) in place of the CDC is available.  

Fees
The fees for the assessment are charged separately for each part.

Examination      $295 incl GST, paid on registration
Assignment        $295 incl GST, paid on registration

Fees have been set to cover costs only, including design, development, delivery and marking.

Members who have attended a 2017 Company Directors' Course (CDC) are eligible to sit the assessment without any additional cost. Members must begin the assessment within six months of finishing the CDC. Outside of the six months the usual fees apply.

CPD points
Five CPD points are allocated to each part of the assessment. Points are not dependent on a pass mark.

*To date the IoD has recognised the AICD’s Company Director’s Course and Waikato University’s G3 Postgraduate certificate in governance.

The Examination

Candidates have 75 minutes to answer 60 questions on the following topics:

The exam is delivered in 16 locations nationwide. Please click to view the 2017 timetable.

Candidates are not permitted to take any materials into the examination room. It is an open book exam: a clean copy of The Four Pillars of Governance Best Practice and a copy of the relevant sections of the Companies Act are provided.


The Assignment

The material provided for the assignment is a case study that includes:

  • background on an organisation
  • a set of board papers for the next meeting.

Topics
Candidates have three weeks to complete a 3,000 word response to five questions, covering the following:

Preparing for the assessment

When preparing for the assessment there are a number of things you should take into consideration.

What role does the Company Directors Course play?
The CDC takes the Four Pillars of Governance Best Practice off the page. Facilitators, who are expert in the different areas, and directors themselves are able to engage participants in discursive learning on each topic.

Some areas are explored in further depth in the course than they are in the text – most particularly in the area of Finance. Prior to attending the CDC delegates are asked to complete an online test. This test is the base from which Finance on the CDC is discussed.

A case study is woven throughout the course, and attendees participate in two mock board meetings. This applied learning is particularly useful to candidates when it comes to responding to the assignment questions taking the role of a particular director.

Compnay Directors' Course Refresher
Many of our members completed the Company Directors' Course prior to the introduction of the Chartered Membership Pathway on 1 October 2014. To support these members in preparing for the Chartered Member Assessment we’ve developed a two-day refresher course.
When assessing which option is right for you, please take into account how frequently you have put into practice what you learned on the Company Directors' Course in your capacity as a director.

As a general guide we recommend

If you did the CDC in 2015 or 2016:

  • review your course materials
  • study the Four Pillars, and familiarise yourself with the Companies Act 1993 (and amendments, as at 1 December 2014).

If you did the CDC from 2007-2014:

  • complete the two-day CDC Refresher course 
  • study the Four Pillars, and familiarise yourself with the Companies Act 1993

If you did the CDC prior to 2007:

  • consider attending a current five-day CDC as the course has been reviewed and modified several times since you first attended.

The CDC Refresher course is intended for those who completed the CDC from 2007 onwards. Entry to the course will be considered for those who completed earlier CDCs on a case-by-case basis.

The Four Pillars of Governance Best Practice
The Four Pillars of Governance Best Practice is the IoD’s comprehensive reference guide for directors in New Zealand. It is the key text on which the assessment is based. The Four Pillars blends high level principles in governance best practice with practical guidance on day to day directorship and an interpretation of legislation affecting directors. 

Companies Act 1993
Candidates are expected to have sound knowledge of the Companies Act 1993. In the exam you will be provided with the following sections as reference material:

  • Part 8: Directors and their powers and duties, s. 126 trhough s. 159
  • Schedule 1: Proceedings at meetings of shareholders
  • Schedule 3: Proceedings of the board of a company

I’m ready to start. What do I need to do now?

Your next steps are:

1. Read the CMA Candidate Handbook.

2. Review The Four Pillars of Governance Best Practice and relevant sections of the Companies Act 1993.

3. Read the eligibility criteria to becoming a Chartered Member*

* Please note: If you don’t have a current board role, and cannot meet point 3. Be a Member of the board of a qualifying organisation, don’t worry, the Chartered Member Assessment will never expire. We encourage members to sit the assessment following completion of the Company Directors’ Course whilst the content of the course and the experience is top of mind. You can complete the last step to upgrade to Chartered as soon as you obtain a directorship.

4. Login to your Dashboard and register your interest to sit the Chartered Member Assessment.

Or, in the right hand sidebar of this page click on My Dashboard in the Register your Interest box.

You will receive an email confirming your eligibility to sit the assessment. Within the email is a web link to the assessment booking portal, where you will set up your assessment profile.

Once we have validated your profile you’ll receive an email confirming your profile is activated. From this portal you can book (choosing from multiple venues and locations), to sit the online examination, and register for the CMA assignment. Payment is required at the time of booking.