That is correct.

there are 2 exam sessions in a year summer and winter.

Winter 2012 exams are going to be held in november.

You can give 2 papers as well of a stage , but if you want to complete the jaibp expeditiously it is recommended you take all 4 courses per stage.

total 3 stages

so in 1 1/2 year your jaibp will be complete

then after that there is a final 6 hour comprehensive exam and after passing it , you will be awarded the complete jaibp diploma.

hope this helps. and gud luck.