Teams of five secondary students from countries around the world may compete in the olympiad, and sit for intensive (individual) theoretical and laboratory examinations. For their efforts the students can be awarded gold, silver, or bronze medals or honourable mentions.
The theoretical examination lasts 5 hours and consists of three questions. Usually these questions involve more than one part. The practical examination may consist of one laboratary examination of five hours, or two, which together take up the full five hours.
The 2003 International Physics Olympiad was held in Taipei, Taiwan.