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Entrance examination is an examination that many educational institutions use to select students for admission. These exams may be administered at any level of education, from primary to higher education, although they are more common at higher levels.
A scholarship is an award of financial aid for a student to further their education. Scholarships are awarded based upon various criteria, which usually reflect the values and purposes of the donor or founder of the award. Scholarship money is not required to be repaid.

Competitive Exam

A competitive examination is an examination where candidates are ranked according to their grades. If the examination is open for n positions, then the first n candidates in ranks pass, the others are rejected.