CPI/CPPI Rules and Regulations
Although it is not essential, the IPA does recommed that all students who wish to sit one of the suite of exams have a minimum of at least two years practical insolvency experience within the industry covering each of the various areas to be examined, and have also attended a structured training course with one of the training organisations.
An application to be registered as a Student (or other category of IPA membership) must be made at least one month before the closing date for examination entry forms to allow time for approval and processing.
Each examination comprises a single three hour paper.
Requests for special circumstances must be submitted when applying for the examination.
The CPI covers personal and corporate insolvency, based on legislation and practice in force as at six months prior to the examination, with a greater emphasis on corporate insolvency: the standard is broadly equivalent to “A” level. The CPPI covers personal insolvency only.
Around 40% of marks are allocated to multiple choice and short answers and around 60% to essay type questions.
There are no exemptions from any part of the paper and no referrals for any part of the paper: an unsuccessful candidate will have to re-sit the whole paper.
The IPA does not set a limit on the number of attempts that a candidate may have to pass the examination.
Once a candidate’s entry form and fee have been accepted, it will generally not be possible to withdraw from the examination and seek a refund or defer taking the examination and carry forward the fee until the next year. Consideration may be given to doing so, and refunding or carrying forward all or part of the fee, where there are medical or other circumstances preventing the candidate from completing his/her studies and/or sitting the examination, and those circumstances with supporting evidence are notified to the IPA immediately they arise.
Examination results
These are available and sent to a candidate’s by email only. Results for the June sitting will be sent the end of August, and the results for the November sitting will be issue at the end of January. Successful candidates are displayed on the IPA web site as soon as all individual candidates have been informed. Successful students also receive an IPA certificate to confirm their achievement.
Individual results will say what the pass mark is, what mark the candidate achieved and whether he/she has passed or failed. The pass mark is set each year by the examination moderator and the Chairman of the IPA Examinations & Training Committee.
Students may achieve distinctions in this paper and IPA students who perform the best will receive first or second prizes. These prizes are presented to students in the presence of their IPA peers.
Examination appeals
An appeal must be made no later than one month after the result has been sent and must be accompanied by a fee of £196 this includes VAT. The award of prizes, distinctions and merits is a discretionary matter managed by the chief examiner and it is not the policy of the IPA to release the relevant criteria that are taken into consideration.
Appeals will only he held for those that have failed.
The candidate’s paper will be re-marked by an examiner selected by the Chair of the Examinations Committee, and will be an examiner who has not previously marked or moderated the paper.
The IPA does not issue marked exam papers to students upon request.
In the event that the appeal is successful and the paper marked up, the appeal fee will be refunded: if the appeal is unsuccessful, the appeal fee will not be refunded but retained by the IPA.
Late appeals or appeals not accompanied by the appeal fee will not be considered.
There is no provision for any further appeal.