Chartered Accountancy Professional Intermidiate [CAP II] Frequently asked questions.
1.What is CAP - II Course?
CAP - II Course is the second stage of Chartered Accountancy Course. The duration of CAP - II Course is nine months. The course has been basically designed with an aim of providing students with requisite knowledge and skills in the subject.
2.Who can join CAP - II Course?
A person in order to join the Chartered Accountancy CAP-II Level should:
- pass the Foundation Course Examination, or
- be a Graduate or Post Graduate in Commerce, Business Administration or Management having secured a minimum of 50 % aggregate marks majoring Accounts, Audit, Tax and Laws
- be a Graduate or Post Graduate other than (ii) above with a minimum of 60% aggregate marks.
3.Do the students appeared in final year of graduation or post graduation examination but not have result can join CAP - II Course?
Candidates who have appeared in graduation or post-graduation examination or equivalent examination but not have result may also register provisionally for CAP - II 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 - II ?
Registration for the CAP - II 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 previous qualification, 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 August of previous year and on or before end of February for the December examination.
6. What are the fees for Registration?
Registration fee for CAP - II course is Rs. 32,500/- 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. 17,500/- shall be paid as a first installment at the time of registration and balance amount shall be paid within six months from the date of registration. The registration fee shall not be refundable.
7.What are the subjects to be studied?
The CAP - II course consists of seven papers, each carrying 100 marks and divided into two groups:
PAPER 1 : Advanced Accounting
PAPER 2 : Audit & Assurance
PAPER 3 : Corporate & Other Laws
PAPER 4 : Financial Management
PAPER 5 : Cost & Management Accounting
PAPER 6 : Business Communication & Marketing
PAPER 7 : Income Tax & VAT
8.What is the eligibility for appearing in the Final Examination?
A candidate can appear in the Final Examination, provided he/she has:
- Completed nine months of study from the date of registration, and
- Obtained eligibility certificate.
To obtain the eligibility certificate of CAP - II Level, students are required to pass Eligible Test as prescribed by ICAN. The Eligibility test has two schemes: Hall & Postal test. The students should pass in at least one paper of each subject 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 January 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 Hall Test?
Under this scheme, tests are taken in an examination hall. The Institute shall fix center for such tests, necessary number of invigilators with timing of examination. Normally, tests are held each Saturday starts at 8:00am to 11:00am. Each sitting of the examination shall be of 3 hours.
A student can sit for Hall Tests as many times as he wishes but only two sittings per subject shall be allowed free of cost. Extra sittings shall be charged at Rs. 500/- per paper. A student who registers his name but fails to appear on the scheduled date shall be considered as having appeared for the test but marked as absent.
A student should register his/her name for Hall Test with in Wednesday at office time.
10.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. However, this scheme is only applicable to those students who have registered their name outside the Kathmandu valley.
These test papers can be submitted personally or by post. A student is allowed to submit two papers of each subject free of cost. Students have right to attempt more than two test papers, however, he/she will be charged Rs. 500 per extra paper.
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.
11.When the Final Examination is held?
The CAP-II Examinations are held twice a year, one in June and the other in December.
12.How long the registration remains valid?
A student must clear the CAP-II Examination within five 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 five years from the date of his registration. However, such a student can re-register as de-novo.
13. What is the application deadline and fees to be paid to appear in CAP - II Level Examination?
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.
14 What are the qualifying criteria?
The qualifying criterions for CAP-II level are as follows:
- A candidate shall be declared passed in the CAP-II Examination only if he passes in both the groups.
- A candidate shall be declared passed in both groups simultaneously if he secures at one sitting:
- A minimum of 40 % marks in each paper of each of the groups with an aggregate of 50 % of all the papers of each of the groups or
- A minimum of 40 % and above in each paper of both the groups and 50 % in aggregate of all the papers of both groups taken together.
15.Is there any Exemption facility in CAP - II Level examinations?
A student who has scored 60% or more in any paper(s) but has failed in that group, shall be entitled for exemption in that particular paper(s), provided, he has scored a minimum of 30% in any one of the subjects of that group, and should have attempted all the papers in that group. The exemption shall remain valid for the next three consecutive examinations but those students who are entitled for exemption are not considered for rank.