Terms of Service

1. The service

Capital Wake provides an accreditation examination for investment banking internships. A registration entitles the named candidate to one examination sitting of 24 questions, taken online in a single 45-minute session, together with access to the official curriculum outline. The pass mark is 70 percent.

2. The fee and the refund

The fee is £997, charged at registration and processed by Stripe. The fee outcome depends on your result:

If you pass, your accreditation is issued, your internship is confirmed with the firm that extended your conditional offer, and the fee is retained as the accreditation fee. There are no further charges.
If you do not pass, the full £997 is refunded automatically to your original payment method at the moment your result is recorded. No deduction is made. Depending on your bank, the refund can take 5 to 10 business days to appear.

If you registered but have not yet sat the examination, you may request a full refund at any time by contacting admissions. Under the UK Consumer Contracts Regulations you have a 14-day right to cancel; sitting the examination within that period constitutes your express request to receive the service, and the outcome-based fee terms above then apply.

3. The examination

The examination must be completed by the registered candidate alone, without assistance from any other person, notes or external tools, in accordance with the rules shown before the sitting begins. The 45-minute limit is enforced. One sitting is included per registration; a candidate who does not pass may register again for a new sitting under the same terms.

Capital Wake may withhold or revoke a credential where it reasonably concludes the examination rules were breached. In that case the fee is refunded and the credential is removed from the registry.

4. The credential

A passing result issues a credential with a unique identifier held in the Capital Wake registry. The credential is personal to the named candidate, does not expire, and may be verified by any party at any time through the verification page. The internship itself is provided by the participating firm that extended the candidate’s conditional offer, not by Capital Wake.

5. Liability

Nothing in these terms limits liability that cannot be limited by law. Otherwise, Capital Wake’s total liability in connection with a registration is limited to the fee paid. Capital Wake is not a party to, and accepts no liability for, the internship arrangement between the candidate and the participating firm.