Cpt result validity

Hey people, i will be giving my cpt exam in dec 2011.. I want to know wat is the validity of cpt after the result is out and if u have cleared it.. I read somewhere the validity is 5 yrs ?? Does that mean , if u have dont clear all the required tests within that period then everything will go waste ?? But there r so many ppl who continue to study for ca for years !!plz guys guide me .. N attach some latest notifications from icai , if there are any