Round bin = trash can
Competency based admission policies were originally developed because so many students are coming into college with AP/IB credits or dual enrollment coursework that gave them advanced academic standing in various sciences. Competency based admission allows these students to skip the intro level classes and take upper level coursework to fulfill admission requirements instead. It also allows students to substitute in-depth, long-term research in a particular area for conventional coursework in the same area. (For example, 2-3 years of hands-on biochemistry research with increasing levels of responsibility in the lab plus an independent senior thesis on a biochemistry topic may fulfill the biochem requirement under a competency-based admission system.)
The flexible policy doesn’t make it harder to gain admission, but it does place the burden of proof on the student to demonstrate they have achieved mastery through significant achievements if they opt to not take the required & recommended coursework.