1. Only students who have passed subjects at tertiary (post-Senior Certificate) level may apply for exemptions.

2. Only subjects examined by formal academic institutions such as universities, technikons or recognized professional bodies are considered, especially where an M+3 rating from the Human Sciences Research Council applies. 

3. The Examining Board must be recognized by IAC.

4. The Examinations and syllabuses must be comparable both in standard and content. IAC exempt syllabus with 90% content.

5. The following examining bodies are recognized:
· Technikons(National Certificate, Diploma and Higher Qualifications)
· South African Universities (Bachelor Degrees and Higher Qualifications). (These universities should be affiliated to the South African Vice-Chancellors' Association formerly the Committee of University Principals)
· Specific recognized foreign universities, polytechnics or colleges.
· The London Chamber of Commerce & Industry (LCCI)
· Higher Education Examination Council (Zimbabwe)(HEXCO)

6. The following Professional Institutions are recognized:
· Chartered Institute of Management Accountants (CIMA)
· Institute of Bankers in South Africa (IBSA)
· Institute of Certified Bookkeepers(Fellowship Level)(ICB)
· Institute of Chartered Secretaries and Administrators(CIS)
· Institute of Marketing Management (IMM)
· Institute of People Management (IPM)
· Insurance Institute of Management(SAIM)

7. Exemptions are granted on a subject-for-subject basis, more details can be found on the back of the Application for Subject Exemptions

8. Subject exemptions must be applied for on the official IAC Subject Exemptions form and must be accompanied by:
· Certified copies of detailed academic statements (indicating subject names, actual percentages/or an explanation of symbols)
· the subject exemption fee(s)
. Exemptions will not be recorded until the student has paid the exemption fee(s)

9. NOTE:
· Pending guidance from the South African Qualifications Authority (SAQA), the IAC does not have a mechanism for recognizing prior learning and does not therefore exempt from subjects based on business experience, short course subjects, training courses, programmes, etc.
· The IAC does not exempt from level 3 (major) subject
· The IAC reserves the right to request whatever information it may deem necessary to consider any subject exemption, and its decisions regarding exemptions are final
· The maximum number of subjects that can be exempted is twelve(12).
· We do not exempt qualifications attained ten(10) or more years ago.
· NB: This exemption policy(subject-for-subject) is relevant to subject with complete OR incomplete qualifications
· An exemption will NOT be granted where a student has written and failed the IAC examination and later claims exemption by virtue of pass with another examining body unless permission has been obtained in writing from the Exemptions Committee.

10. Certificates & Higher Certificates:
· The present Certificate (6 subjects) & Higher Certificate (12 subjects) will NOT be exchanged for a qualification from any other institution.
· To be granted an IAC:
A) At least two of the subjects must have been written and passed.
B) Certificate: a candidate MUST have at least 6 IAC subjects.
C) Higher Certificate: a candidate MUST have at least 12 IAC subjects .
D) To qualify for the above the subjects completed should be in the order listed in the curriculum.
E) A written request must be sent to the IAC office together with the relevant fee.