3 strikes and you're out? Well not quite, but you will have to wait 12 months to resit if you fail the same module 3 times (with the usual 90 days between).
The good news is, you will have 7 years instead of 5 years to complete all the modules, and Modules 1, 2, 3 and 4 are not included in the 7-years (i.e. pass those, and they last for ever).
