How Much Does The CAPM Exam Cost?
The Cost of the Certified Associate in Project Management (CAPM) exam can vary depending on your membership status with the Project Management Institute (PMI). For PMI members, the cost is $225 USD, while non-members pay $300 USD. In addition to the exam fee, there may be additional costs for study materials and preparation courses. It is important to budget accordingly and consider the value of earning the CAPM certification.
Understanding The Costs Associated With The CAPM Exam
1. Exam Fee: The primary cost associated with the CAPM exam is the exam fee itself. PMI members receive a discount on the exam fee as part of their membership benefits. It is important to note that there is also an application fee to be paid when submitting your application for the exam. The exam fee is non-refundable, so it is crucial to be well-prepared before scheduling your exam.
2. Study Materials: In addition to the exam fee, candidates will also incur costs for study materials to prepare for the CAPM exam. PMI offers a range of study resources, including study guides, practice exams, and other reference materials that can help candidates prepare for the exam. While there are free resources available online, investing in quality study materials can improve your chances of passing the exam on the first attempt.
3. Training Courses: Many candidates choose to enroll in CAPM exam prep courses to help them prepare for the exam. These courses are typically offered by PMI Registered Education Providers (R.E.P.s) and cover the key concepts and processes tested on the exam. While training courses can be an additional expense, they can provide candidates with a structured learning environment and access to experienced instructors who can offer guidance and support throughout the preparation process.
4. Retake Fee: In the unfortunate event that you do not pass the CAPM exam on your first attempt, you will have to pay a retake fee to schedule a retake. PMI allows candidates to take the exam up to three times within one year from their initial eligibility. However, each retake attempt incurs an additional fee, so it is essential to thoroughly prepare to increase your chances of passing the exam on the first try.
5. Opportunity Cost: It is also important to consider the opportunity cost associated with pursuing the CAPM certification. The time and effort spent preparing for the exam could be allocated to other professional or personal endeavors. Additionally, there may be costs associated with taking time off work to study for the exam or attend training courses. It is crucial to weigh the potential benefits of earning the CAPM certification against the costs and sacrifices involved in pursuing it.
Registration Fees For The CAPM Exam
1. Membership Fee: As mentioned earlier, becoming a PMI member can result in savings on the CAPM exam fee. The membership fee for PMI varies depending on your location and membership type. For individuals in the United States, the membership fee is $139 USD for one year. This fee grants you access to a wide range of resources, networking opportunities, and discounts on PMI certifications and events.
2. Reexamination Fee: If you do not pass the CAPM exam on your first attempt, you will need to pay a reexamination fee to retake the exam. The reexamination fee is $150 USD for PMI members and $200 USD for non-members. It is important to note that there are eligibility criteria and waiting periods for retaking the exam, so be sure to familiarize yourself with these guidelines if you find yourself in this situation.
3. Additional Study Materials: While not mandatory, many CAPM exam candidates choose to invest in additional study materials such as practice exams, study guides, and online courses to help them prepare for the exam. These materials are typically available for purchase through PMI and other third-party providers and can range in price from $50 to $200 USD. Investing in quality study materials can improve your chances of passing the exam on your first attempt.
4. Other Costs: In addition to the exam fees and study materials, there may be other costs associated with pursuing the CAPM certification, such as travel expenses if you choose to take the exam at a testing center or attend in-person training courses. It is important to factor in these additional costs when budgeting for the CAPM certification process.
Conclusion
In summary, the cost of the CAPM exam varies depending on whether you are a PMI member or non-member. PMI members can expect to pay around $225, while non-members will pay approximately $300. It is important to consider these costs when preparing for the exam. If you are looking for more detailed information on the cost of the CAPM exam, please refer to the official PMI website for the most accurate and up-to-date pricing information.