Suppose you are wondering how many exams there are in CA. In that case, India’s Chartered Accountancy (CA) course consists of three primary levels of exams: the CA Foundation Exam, the CA Intermediate Exam, and the CA Final Exam. Each level contains several papers assessing the student’s accounting, taxation, auditing, law, and finance knowledge. A total of 20 papers are required to be cleared to become a Chartered Accountant. The well-structured CA exam is said to be one of the most challenging exams in India, which is entirely due to the syllabus of its vast contents with low pass percentages.
The Institute of Chartered Accountants of India is responsible for CA courses, preparing the syllabus, conducting examinations, and issuing the CA qualification. Next, let’s delve into details regarding each stage of the CA exam, like its structure, syllabus, marking scheme, and weightage for each paper.
How Many Exams are there in CA?
To answer the question, how many exams are there in CA? the CA course is structured into three major stages, with each stage containing several papers:
- CA Foundation Exam – 4 Papers
- CA Intermediate Exam – 8 Papers (divided into two groups of 4 papers each)
- CA Final Exam – 8 Papers (again divided into two groups of 4 papers each)
Throughout the CA journey, a student has to pass 20 papers. All the papers contain subjects like accounting, corporate law, taxation, auditing, financial management, and strategic cost management. Both theoretical knowledge and practical application are checked through every paper to equip the students for actual financial challenges in real life.
The exams are held twice yearly, in May/June and November/December. The flexibility of attempting groups separately allows students to manage their workload effectively, especially given the challenging nature of the syllabus.
CA Foundation Exam
The CA Foundation Examination forms the first level of the Chartered Accountancy Course. It is aimed at those who have finished their Class 12 course and now wish to continue with an education that would allow them to work in accounting or finance. This examination exposes students to accounting basics, business laws, math, economics, and commercial knowledge. The exam assesses theoretical understanding and practical application.
The CA Foundation exam comprises four papers with diversified topics to prepare them for higher CA exams. There are two annual tests, May/June and November/December; the medium used is English and Hindi.
Paper 1: Principles and Practice of Accounting
This paper deals with the fundamental principles of accounting. It encompasses accounting concepts, principles, and conventions, preparation of financial statements, and accounting for sole proprietorships, partnership firms, and companies. The paper also includes consignment accounts, bills of exchange, and depreciation accounting.
This paper carries 100 marks, and it is a subjective exam where students must write detailed answers. There is no negative marking, and candidates must secure at least 40% marks in this paper to pass.
Paper 2: Business Laws and Business Correspondence and Reporting
This paper shall be divided into two parts: the first,
- Business Laws: It focuses on essential law frameworks such as the Indian Contract Act, the Sale of Goods Act, the Partnership Act, and the Companies Act, as it helps trainees understand certain legal principles controlling business transactions.
- Business Correspondence and Reporting: It tests the ability to communicate effectively in a business environment. The tests include report writing, drafting formal letters, comprehension passages, and communication ethics.
This paper also has 100 marks, out of which 60 marks are for Business Laws and 40 marks for Business Correspondence. It is a subjective paper with no negative marking. Students need to score at least 40% marks in this paper.
Paper 3: Business Mathematics, Logical Reasoning, and Statistics
This paper is designed to test a student’s analytical and problem-solving skills. It is divided into three sections: Business Mathematics, Logical Reasoning, and Statistics.
- Business Mathematics: It includes ratios, proportions, indices, logarithms, linear inequalities, and time-value of money.
- Logical Reasoning: It focuses on puzzles, seating arrangements, blood relations, number series, and coding-decoding patterns.
- Statistics covers data interpretation, probability, measures of central tendency, correlation, and regression analysis.
This is an objective-type exam with MCQs with a total mark of 100. The distribution of marks is 40 for Mathematics, 20 for Logical Reasoning, and 40 for Statistics. The wrong answer carries a negative mark of 0.25, so students must be careful while answering.
Paper 4: Business Economics and Business and Commercial Knowledge
This paper will give a general understanding of basic economic principles and how businesses function in the market. It is divided into two sections: Business Economics and Business and Commercial Knowledge.
- Business Economics: It deals with micro and macroeconomic concepts, such as demand and supply analysis, production and cost theory, market structures, and national income.
- Business and Commercial Knowledge: It introduces students to business organizations, government policies, the business environment, and recent economic trends.
This paper also contains 100 marks, consisting of 60 marks for Business Economics and 40 marks for Business and Commercial Knowledge. This paper is an objective-type paper similar to Paper 3. Wrong answers attract a negative marking of 0.25.
Marking Scheme and Passing Criteria for CA Foundation
The marking scheme for the CA Foundation Exam is uniform. The paper is 100 marks for all papers combined for 400 marks. For this exam, a student has to score:
- 40% marks in each paper separately
- An aggregate of 50% of marks in all papers
Appearance in any paper not meeting passing criteria requires the candidate to reappear for that paper.
CA Intermediate Exam
The CA Intermediate Exam is the second level of the Chartered Accountancy course. It is more advanced than the Foundation level, focusing on core accounting concepts, corporate law, taxation, auditing, and financial management. This stage bridges the gap between theoretical knowledge and practical application.
The CA Intermediate exam has eight papers in two groups, each with four papers. The student can appear for both groups or one group at a time. The exam is held twice a year, and candidates must complete 8 months of study before appearing.
CA Inter Group 1 Paper
Paper 1: Accounting: This paper includes preparing and presenting financial statements by accounting standards. It covers accounting for companies, amalgamation, partnership accounts, insurance claims, and the accounting standards framework. Paper 2 carries 100 marks and is subjective. The paper deals with numerical problems and theory-based questions. There are no negative markings; the students must obtain at least 40% marks to pass.
Paper 2: Corporate and Other Laws: This paper consists of two sections: Company Law and Other Laws
- Company Law: Companies Act, 2013-the creation of the company, management of the company, its meetings, corporate governance, etc.
- Other Laws: These will include the Indian Contract Act, Negotiable Instruments Act, General Clauses Act etc.
This is a subjective question paper and objective questions, aggregating 100 marks. The objective section will also have MCQs minus 0.25 for a wrong answer.
Paper 3: Cost and Management Accounting: This paper deals with costing concepts, budgeting, standard, marginal, and variance analysis. It provides students with techniques for cost control and performance evaluation. The paper carries 100 marks, and this is a subjective paper with numerical problems and case studies. There is no negative marking for this paper.
Paper 4: Taxation: This paper deals with Direct Taxes (Income Tax) and Indirect Taxes (Goods and Services Tax – GST).
- Direct Taxes: These include topics like residential status, income computation, deductions, and tax liability.
- Indirect Taxes: It focus on GST provisions, tax structure, and compliance.
The paper combines subjective and objective questions, with 0.25 negative markings for objective questions. It carries 100 marks, equally divided between Direct and Indirect Taxes.
CA Inter Group 2 Papers
Paper 5: Advanced Accounting: This paper is based on the study material taken from Paper 1, which deals with advanced accounting standards, consolidated financial statements, banking, insurance, and NBFC accounting. The paper is subjective and carries 100 marks. The problem-solving portion of the paper dominates, and there are no negative marks.
Paper 6: Auditing and Assurance: It deals with auditing principles, techniques, standards, risk assessment, and ethics. It prepares the students for the role of auditors in firms and companies. Prior carries 100 marks, which is subjective. Questions are on theory and practical case studies—no negative marking.
Paper 7: Enterprise Information Systems & Strategic Management: This paper contains two sections,
- EIS: This deals with IT systems, data management, cybersecurity, and automation in accountancy.
- Strategic management includes business strategy, competitive analysis, and performance measurement. It consists of objective questions with -0.25 for incorrect attempts and subjective, totaling 100 marks.
Paper 8: Financial Management & Economics for Finance: It is further divided into two topics: Finance Management (FM) and Economics for Finance.
- FM: It includes subjects related to capital budgeting, cost of capital, working capital management, and risk analysis.
- Economics for Finance includes macroeconomic theories, international trade, and financial markets. It has objective and subjective type questions and carries 0.25 negative marks for every wrong answer. There are 100 marks.
Marking Scheme and Passing Criteria for CA Intermediate
For CA Intermediate Examination, the candidates should have at least:
- 40% marks in all papers
- 50% aggregate minimum in every group
No student can clear the examination unless they score a passing mark on any paper. If not, then they are supposed to appear again in that paper.
CA Final Exam
CA Final Exam is the final level of the Chartered Accountancy course. The CA Final tests advanced knowledge about accounting, auditing, taxation, risk management, financial reporting, and corporate governance. This will prepare students to take leadership positions in finance and accounting.
The CA Final exam consists of eight papers divided into two groups. Candidates can take both groups at the same time or separately.
CA Final Group 1 Paper
Paper 1: Accounting Standard: It focuses on advanced accounting and international financial reporting standards concerning corporate financial reports. It requires analysis and the interpretation of very complex financial statements.
The paper is subjective and worth 100 marks, accompanied by cases and some serious calculations; no negative marking.
Paper 2: SFM: SFM deals with advanced financial strategies such as risk management, derivatives, portfolio management, and international finance. Analytical skills are essential.
It is a subjective paper with 100 marks emphasizing problem-solving and strategic analysis. There is no negative marking.
Paper 3: Advanced Auditing and Professional Ethics: Advanced auditing practices, forensic audits, ethics, and regulatory compliance are covered. This paper is to prepare the student for senior auditing roles.
This paper is subjective and carries 100 marks, consisting of questions on theoretical and practical applications.
The paper has no negative markings.
Paper 4: Corporate and Economic Laws: Here, corporate governance, economic laws, foreign exchange regulations, and security laws fall. It is mainly subjective and has some objective answers. It possesses 0.25 negative markings against the kind of objective answers. The paper carries 100 marks.
Papers of Group 2
Paper 5: Strategic Cost Management and Performance Evaluation: This deals with sophisticated cost management techniques in business scenarios in a complex framework involving decision-making processes and different methods in performance evaluations.
The paper is subjective. 100 marks with no negative marking.
Paper 6: Elective Paper (Open Book Exam): Students can choose electives like International Taxation, Risk Management, Global Financial Reporting Standards, etc. It is an open-book exam meant to test the ability to apply concepts to real-life situations.
The paper is subjective, for 100 marks, and there is no negative marking.
Paper 7: Direct Tax Laws and International Taxation: This paper deals with advanced direct tax laws, international taxation, transfer pricing, and tax treaties. It has subjective and objective questions, and there is a 0.25 negative marking for objective questions. The paper carries 100 marks.
Paper 8: Indirect Tax Laws (GST and Customs): This paper is based on Goods and Services Tax (GST) and Customs laws, which form a tax administration, compliance, and tax planning
Partially subjective and partially objective. Objective questions carry 0.25 negative markings. The paper carries 100 marks.
Marking Scheme and Passing Standards for CA Final
Students need to get at least the following marks to pass in the CA Final Exam:
- Â At least 40 % marks on every paper
- Â At least 50% aggregate marks in each group
A student is eligible for exemption in the cleared paper for subsequent attempts if failed in one paper but scores more than 60% marks in another.
CA Exam Results and Pass Percentage
The CA exam results are significant stepping stones in a student’s CA journey. The ICAI declares the CA Foundation, CA Intermediate, and CA Final examination results for about two months following the examination date. Students can obtain their results from the ICAI website using the roll number and their respective PIN or registration number. The result sheet of the CA contains all of the following :
- Marks obtained in all the papers Overall marks and percentage
- Pass or fails  Â
- Rank merit list of getting top marks -holding students. Â
The examination result also details all rank holders and the over-pass percentage; hence, results represent how well the competitive exam has performed.
CA Foundation Exam Results
The result of the CA Foundation exam is declared generally within 6-8 weeks from the examination date. Candidates will get their results online. ICAI also offers the service of receiving the results through SMS and email.
- To pass the CA Foundation, one needs to score the following marks:
- Min 40% marks in each subject paper
- 50% aggregate marks on all four papers put together
The candidates would appear again in the subsequent cycle for the respective paper(s) that they could not pass under the set standard.
CA Foundation Pass Percentage
CA Foundation level pass percentage would marginally differ with time. It depends directly on how all the candidates collectively perform during their respective attempt cycles. Mostly,
- Pass percentage: ranges from 25% to 35%
- Highest Pass Percentage: Generally in November since the students generally study intensively after the board examination in their 12th year.
- This pass percentage shows that the Foundation exam is challenging, but proper study ensures its achievement.
CA Intermediate Exam Result
The result of the CA Intermediate exam is declared two months after the exam date. The results can be checked online, and ICAI also provides detailed marks sheets where marks scored by each paper and group are included.
- Passing Conditions:Â
- Obtain 40% marks on each paper.
- Secure 50% aggregate in every group.
If a candidate is qualified for one group but fails in the other, he has to appear only for the group he failed. Similarly, suppose a candidate scores 60% or more marks in any paper but has failed in that group, has been exempted from exempted falso rom that particular paper in all the attempts, and remains valid for the essive attempts.
CA Intermediate Pass Percentage
In terms of pass percentages, it is marginally behind the Foundation level, given that the level of difficulty in exams is on the rise:
- Pass Percentage Group I: 15% to 25%
- Pass Percentage Group II: 10% to 20%
- Combined Pass Percentage for both Groups: 8% to 12%
This percentage is a massive talk of being well prepared deep inside, with perfect conceptual clarity and strict practice.
CA Final Exam Result
The CA Final exam is the most anxiously awaited result because it culminates the CA course. The results are declared within 8-10 weeks after the exams. On passing the exam, candidates achieve the status of Chartered Accountants and can become members of ICAI.
- To qualify for the CA Final exam, candidates must achieve:
- At least 40% marks on each paper
- Aggregate of at least 50% in each group
Students can opt for exemptions if they secure 60% or more in a paper, but the group aggregates below the cut-off mark.
CA Final Pass Percentage
CA’s Final pass percentage is the lowest. This shows the toughness of the exam and its stringent requirements, as stated by ICAI:
- CA Final Group I Pass Percentage Approximately 10% to 15%
- CA Final Group II Pass Percentage Approximately 8 percent to 12 percent
- Combination of the two groups together, often below 10 percent
Despite these disturbing figures, thousands of students pass the CA Finalyearlyr with proper sincerity and apt preparation.
Pass Percentage Trend Over the Years
| Exam Level | Pass Percentage (Nov 2022) | Pass Percentage (May 2023) |
| CA Foundation | 30.28% | 35.03% |
| CA Intermediate (Grp I) | 21.79% | 24.44% |
| CA Intermediate (Grp II) | 18.90% | 22.78% |
| CA Final (Both Groups) | 11.09% | 9.85% |
There is a trend discernible regarding the level of exams being taken – difficulty-wise, syllabus changes, and the level of preparation from the candidate’s side. However, adhering to a rigorous study and practice of the conceptually applied principles is always insisted upon.
Why is CA the Hardest Exam in India?
The Chartered Accountancy course is one of India’s most challenging exams. There is more than one reason this exam is complex and strictly demanding.
Huge Syllabus
A set of subjects that cover accounting, taxation, law, auditing, strategic management, economics, and information systems comprises the CA syllabus. Most questions do not require mere memorization but a deep insight into complex issues and their practice. The course is updated as and when needed in the changing face of financial and legal environments. As such, updating knowledge is a must for the student.
Application-based questions
Unlike most paper-based exams, CA paper attempts to test a student’s capability to apply the theoretical knowledge of fundamental business scenarios. Primarily, the questions are based on case studies and demand analytical thinking processes. Problem-solving skills and practical judgment become essential in solving such exercises, making rote learning worthless and increasing the chance of deep, conceptual understanding in students’ minds.
Strict Assessment Process
ICAI holds very stringent evaluation standards, and only the brightest minds qualify. Errors in calculation, presentation, and interpretation, which are very trivial, can be penalized substantially. The non-availability of grace marks, along with strict marking criteria, have caused low pass percentages at all the levels of CA.
Long Period and Time Intensity
This would be at least 4-5 years, which has also provided a compulsory period under Articleship training and practical work experience under a CA firm. The time needed to undergo professional training after exam preparation is highly demanding, especially regarding strict time management and discipline.
Pass Percentage Low
Generally, the pass percentage for CA exams is very low in the Intermediate and Final exams. Average passes fluctuated around 10-20% during each examination series. It simply shows the challenging and problematic standard that must be met before being called a CA Chartered Accountant.
Pressure and Mental Hardiness
The CA journey is mentally draining. Students encounter exam stress, performance anxiety, and societal pressure. Mental toughness to handle failed attempts and setbacks and maintain motivation year after year will require high support.
Despite these problems, thousands of students pass out from CA courses yearly. The success formula is sustained efforts, proper preparation, and hands-on experience gained during Articleship. The reward is a high-profile career with vast possibilities for finance, accounting, consultancy, and management.
CA Exams FAQ
How many exams are there in CA?
There are 20 papers from the Cthe A Foundation, eight from the CA Intermediate, and eight from the CA Final.
Is CA the most challenging exam in India?
CA is one of India’s toughest exams, with a vast syllabus and difficult papers with low pass percentages.
What is the age bar for the CA examination in India?
There is no age bar; candidates can get registered at any age if they meet the academic criteria.
Do changes occur in the pattern of the CA exam?
Yes, ICAI changes the pattern of the CA exam from time to time, keeping in mind international accounting standards and also as per the business requirements.
Is there any Reservation for the CA Exam?
No, ICAI does not keep a seat reservation for students taking the CA exam. It is strictly merit-based, and nobody is provided with a differential opportunity.
