The Institute’s next entrance exam will be next held on Monday 29 October with registration open from Monday 3 September. The exam is available to non-accounting graduates (with an Australian degree or an overseas equivalent) who have developed on-the-job competencies and are employed by an Institute accredited employer. A fast and low cost pathway for non-accounting graduates to the Chartered Accounting Program; the exam is a formal recognition and assessment of workplace learning.  
 
The multiple choice exam format was chosen because it is the most effective way to test mastery of important factual information. It is also the most efficient way to assess a broad range of topics in each core knowledge area, and this increases the reliability of the test. 
 
Exam structure: 

• The exam consists of six separate papers covering the core accounting knowledge areas of: taxation, audit, management accounting, financial accounting, company and corporate law, and finance 
  
• Individuals only sit the exams in the areas they are required to demonstrate an understanding of the core knowledge 
  
• Each paper is 30 minutes in duration and consists of 20 multiple-choice questions.

• The fee to sit one to three papers is $250, and $500 to sit four to six papers 
  
• Failed papers can be resat a maximum of three times. If not passed after three attempts the applicant needs to complete an accredited university subject in the failed topic 
  
• Passed exam papers have an expiry date of 18-months from the result release date. Core knowledge areas not met within 18 months of this first result release date will need to be re-examined.

• The Institute: Broader entry