Is there any tool in 3Ds Max to accurately measure the 3d model ?

No, there is no such dedicated tool. You only have the option to measure linear distances between2 points and thats pretty much it. Then again I have never needed an accurate measure tool in max so I might be wrong.

Try "multi distance-meterthis" script - it's useful

www.scriptspot.com/3ds-max/scripts/multi-distance-meteror go to utility panal > measure distance

Tools Menu > Mesure Distance