Chartered Accountancy Professional Foundation [CAP I] Frequently asked questions.
1. What is CAP - I?
Chartered Accountancy Professional (CAP) - I is a basic course for Chartered Accountancy Course. The duration of CAP - I is one year. The course has been designed to provide students basic knowledge and skills as part of the entry standard for the professional level.
2.Who can join CAP - I Course?
Student completing the higher secondary (10+2) or certificate Level examination from recognized academic institutions can join the CAP - I Course. Graduate or Post Graduates who have scored less than 50% in Commerce / Management or less than 60% in any faculty other than Commerce / Management, but remaining ineligible to register directly for the CAP - II Course also can join for CAP - I Course.
3.Do the students appeared in 10+2 or final year of equivalent examination but not have result can join CAP - I Course?
Candidates who have appeared in 10+2 or final year of equivalent examination but not have result may also register provisionally for CAP - I Course. However, such provisional registration shall be confirmed only after satisfactory proof of having passed the said examination within a period of six months from the date of provisional registration.
Failure to comply with this shall result in the cancellation of provisional registration and fees paid for provisional registration shall not be refunded.
4.How to apply for admission to CAP - I ?
Registration for the CAP - I Course is opened throughout the year. Student should apply filling up Application Form prescribed by Annexure 1 (Rule - 2061) along with copies of Mark sheet / Transcript and Character Certificate of SLC and 10+2 (PCL), copy of Citizenship or Passport and Receipt of Fee Paid.
5.Is there any deadline of Registration?
Examination is held twice a year - one in June and the other in December. For appearing in the June examination registration should be done on or before the end of November of previous year and on or before end of May for the December examination.
6.What are the fees for Registration?
Registration fee for CAP - I Course is Rs. 27,500/- to be paid at the time of registration along with other applicable fees. However, the registration fee can also be paid on installment basis. Accordingly, Rs. 15,000 shall be paid as first installment at the time of registration and balance amount shall be paid within 3 months from the date of registration. The registration fee shall not be refundable.
7.What are the subjects to be studied?
The CAP - I Course consists of three papers, each carrying 100 marks.
PAPER 1 : Fundamentals of Accounting
PAPER 2(A) : Mercantile Laws
PAPER 2(B) : Fundamentals of Economics
PAPER 3(A) : Fundamentals of Management
PAPER 3(B) : Commercial Mathematics and Statistics
8.What is the eligibility for appearing in the Final Examination?
A candidate can appear in the CAP-I Examination, provided he/she has:
- Completed six months of study from the date of registration, and
- Obtained eligibility certificate.
To obtain the eligibility certificate of CAP-I Level, students are required to pass Eligible Test as prescribed by ICAN.
The Eligibility test has Postal test scheme. The students should pass in at least one paper of each subject and must secure a minimum of 40% marks in each paper. The tests are conducted till the end of July for the students appearing in the December Examination and till the end of February for the students appearing in the June Examination
After successful completion of Pre-test exam scheme, eligibility certificate shall be issued to the student. A student shall get eligibility certificate before or with in exam form submission date
A student must get eligibility certificate within three years from the date of registration, subjected to cancellation in case of failure to obtain eligibility certificate. However such a student can re-register as de-novo.
9.What are the features of Postal Test?
Under this scheme students are provided with a set of test papers at the time of registration. Students are required to solve the test papers at home under the examination conditions and submit them to the Institute. These test papers can be submitted personally or by post. A student is allowed to submit two papers of each subject free of cost. If any kinds of misconduct found such as copied from others' works/writings shall be considered invalid and no marks shall be awarded to such answers.
10.When the Final Examination is held?
The CAP-I Examinations are held twice a year, one in June and the other in December.
11.How long the registration remains valid?
A student must clear the CAP-I Examination within three years from the date of registration, irrespective of the date of getting the eligibility certificate. If a student fails to complete examinations within the stipulated duration, his/her registration shall be cancelled on expiry of three years from the date of his registration. However, such a student can re-register as de-novo.
12.What is the application deadline and fees to be paid to appear in CAP - I?
Students eligible to appear in the examination shall have to submit examination form along with prescribed fees within the timetable announced by the Institute. Generally, for appearing in the June examination, the form should be submitted on or before the end of April and by the end of October for the December examination.
13. What are the qualifying criteria?
The qualifying criterion for CAP-I level is the results that declared passed in the CAP-I Examination.