ICWAI changed the mode of Foundation Exam from June 2013 onwards

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The entire examination will be conducted in one day, in two sessions. In the morning session (10 am to 12 pm) , the examination will be held for Paper 1 (Organization & Management Fundamentals) & Paper 2 ( Accounting ) and in the afternoon session (1 pm to 3 pm) examination will be conducted for Paper 3 (Economics and Business Fundamentals)
& Paper 4 (Business Mathematics & Statistics Fundamentals).

Question Paper will be of 100 marks for P-1 (Organization & Management Fundamentals) & P-2 ( Accounting ) i.e. 50 marks for P-1 & 50 marks for P-2. There will be 50 questions of 1 mark each for P-1 & 50 questions of 1 mark each for P-2. Time duration will be 120 minutes for 100 marks.

The same pattern will be followed for P-3 (Economics and Business Fundamentals) & P-4 (Business Mathematics & Statistics
Fundamentals). All questions will be compulsory

Standard of pass for each paper will be 40% for each paper and 50% in aggregate.