Credit for prior learning
If you already hold a qualification that we recognise, we may be able to award credit for your prior learning. Credit for prior learning is also known as CPL and exemptions. It recognises areas of the ICAEW CFAB syllabus that you have previously studied. You can claim credit for up to five exams.
How to apply for credit for prior learning
Before you apply for CPL, there are a few things to remember:
- You must already be registered as an ICAEW CFAB student.
- You will need to check that you are eligible to apply for credit. Our CPL directory lists all the qualifications available for credit, enter your academic institution or qualification to see if it's listed.
- If your employer is contributing to the cost of your studies, check with them before you apply for CPL. Your employer may prefer you to sit the exams to ensure you have the most up to date knowledge.
- It can take up to 14 days from receipt of your credit for prior learning application and supporting documents for us to assess your application.
- You can't apply for credit on an exam that you have already sat. We recommend that you apply for credit for prior learning at the point of registering as a student, however, if you are studying for a degree, or another professional qualification, you may not be able to apply until you have completed the relevant learning in year two or three of your course of finished your degree.
You can apply for credit for prior learning online. Each credit you apply for will cost £70 which is non-refundable. The cost to apply for credit for prior learning will be £72 from 1 July 2020.
Please note that the Accounting exam is compulsory for all students to sit and pass. You may be eligible to apply for credit for this exam, only if you hold a relevant qualification, for example, the AAT qualification or an accounting degree, and you have also successfully passed the ACA Professional Level Financial Accounting and Reporting exam.