A great analysis !
Generally, when a student has passed the entrance test; it means he is fit to qualify.
Another side of the analysis is -
Proper guidance is not taken at the beginning of the career. The student who joins the course has more emphasis on doing CA rather than making a Career. Even many CA Final students can't decide what they will do after qualifying CA. They are job seekers. A have not heard any docotor saying that after becoming Doctor he will find a job. This is my practical experience.
Even qualified chartered accountants who are in practice specially in B-class cities are not happy with the working of the Institute. CPE hours have been lodged compulsorily on them without making a proper scheduled programs. Don't qualified CA have sense how to update their knowledge ? It means training was lacking. Good faculties are not provided. Qualified CAs are generally appointed as speakers who are not having good communication skills. At the end of the lecture; almost all the time querries are never answered pretending shortage of time because programs are never started at schedule time. Then what is the use of such CPE programs.
These faculties don't care for good presentation because they are paid nothing !
In this world; who will give you the best if he is not paid at all ?
Although it is also a fact that the cost of full CA is not at par with one year cost of a primary convent school and this is the reason that crowd is there.