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)

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