The Traditional System
• The traditional Diplomstudium/Magisterstudium programs last four-to-five years, but in fact most students usually take longer to finish. The programs are divided into two cycles: The first cycle introduces the student to an area of specialization and concludes with an examination known as the Erste Diplomprüfung.
• The second cycle entails in-depth study and concludes with an examination, the Zweite Diplomprüfung, and a written thesis. Students who successfully complete this stage of higher education are awarded either a Magister or a Diplom degree, depending on the field of study.
http://www.wes.org/ewenr/04May/Austria.htm

The Austrian Erste Diplomprüfung (first diploma examination) should be regarded as comparable to two years of study towards a Bachelor’s degree in Australia.
Students with an Erste Diplomprüfung plus an additional year of study (three years in total) should be eligible for admission to Australian graduate programs which have as a prerequisite a three year undergraduate degree or equivalent.
http://www.bmwf.gv.at/fileadmin/user_upload/wissenschaft/nar...

First Degree Exam (Erste Diplomprüfung)
The first degree exam marks the completion of Part I of the program. Formally, it consists in the submission of certificates for all courses required for Part I. The first degree exam is deemed to have been completed successfully when the student has obtained pass grades in all courses required for Part I of the program.
www.akbild.ac.at/portal_en/studies/study-programs/fine-arts...

Preliminary Exam (Erste Diplomprüfung)
The preliminary exam marks the completion of Part I of the
program.
www.akbild.ac.at/portal_en/studies/.../education-in...educa...

Within the C.I.U.T.I. institutions, the structure and exam provisions are fairly transparent and comparable. They usually comprise a minimum requirement of 8 semesters with a “preliminary diploma examination” after four semesters and a final diploma after 8 semesters with a joint translation and interpretation program in the first four semesters and specific translation or interpretation programs after the first two years of study.
userpage.fu-berlin.de/~elc/tnp1/SP7NatReps.doc