The CDFM is a professional, assessment-based certification originally developed by ASMC in partnership with the Department of Defense and with the support of the Chauncey Group, a wholly owned subsidiary of the Educational Testing Service. The CDFM exams went live in the year 2000. The CDFM Program is governed by the ASMC Certification Commission, and the ASMC Certification Department runs the day-to-day operations.
The CDFM is a certification for professionals in the field of financial management who are civilian or military members of the Department of Defense, U.S. Coast Guard, or employees of defense contractors and suppliers. Earning and maintaining the CDFM credential requires meeting eligibility and experience criteria, passing three multiple-choice exams, and recertifying every two years. The certification exams cover three primary areas as defined by the CDFM Competency Model: Resource Management Environment, Budget and Cost Analysis, and Accounting and Finance. Individuals who meet all of the requirements earn the right to display the CDFM designation after their names. Individuals who meet all the requirements for the CDFM and also pass an exam which tests defense acquisition competencies earn the CDFM-A: the CDFM with Acquisition Specialty.
Every credible program of professional certification has a mechanism to ensure that certified members remain current. The CDFM Program requires its certificants to recertify every two years by earning Continuing Professional Education (CPE) and paying a recertification fee.