Starting preparation for CA? 8 things you must know before taking the Foundation Exam
The CA Foundation course is the entry-level for the Chartered Accountancy course offered by the Institute of Chartered Accountants of India (ICAI). Earlier it was known as the Common Proficiency Test. CA Foundation exams are conducted twice a year in May and November.
If you have chosen to pursue CA, then it is pertinent that you should be aware of the below mentioned 8 things before taking the Foundation exam:
1. Exam Pattern and Paper
CA Foundation is an offline test (Pen and Paper based) and consists of 4 papers. It can be taken up in either English or Hindi, as preferred by the student twice a year. The paper consists of both objective and subjective type of questions carrying a total of 400 marks. Papers three and four have the objective type of questions and there are negative markings for every wrong answer.
2. How to apply for CA Foundation?
A candidate has to register for CA Foundation course by filling up the online registration form available on the ICAI website. The last date for registration is December/June for May/Nov terms of examination. Registration to the CA Foundation course is valid only for three years.
3. CA Foundation Registration Fee
A student can register for the CA Foundation course with the prescribed fees –
|S.No||Details of Fees||Rupees||For Foreign Students (US $)|
|1.||Cost of Foundation Prospectus||200||20|
|2.||Foundation Registration Fees||9000||700|
|3.||Subscription for Students Journal (For one Year- Optional)||200||20|
4. Syllabus for CA Foundation
The entire Foundation syllabus is divided into four subjects:
- Principles and Practice of Accounting
- Business Laws and Business Correspondence and Reporting
- Business Mathematics and Logical Reasoning and Statistics
- Business Economics and Business and Commercial Knowledge
5. When to attempt the paper?
Exams for the CA Foundation are held in May and November. ICAI announces the CA Foundation exam schedule in July for the November term of examination and in the month of January for the May term of examination.
6. Minimum score to pass the Foundation exam
It is important to secure a minimum of 40 percent marks in each of these papers and a minimum of 50 percent overall aggregate in all the papers put together to clear the level one examination.
The results for CA Foundation Exam are tentatively published within 2 months after the exam is completed. The score is considered valid for 3 years.
Also read: How to Stay Motivated for CA Preparation?
8. Attempting the Foundation exam again
In case you fail to clear the exam in the first attempt, you need not worry. You can prepare well and reappear for the exam, as the CA Foundation exam is held twice a year in May and November.
Wondering what to do in the last few days preceding the exams? Read: CA EXAM PREPARATION: What to do in the Last 10 Days?
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