ICWAI changed the mode of Foundation Exam from June 2013 onwards

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.