Limited Solvency Examination’ is mandated by the insolvency and Bankruptcy Board of India (IBBI). One need to qualify this exam for registering as an Insolvency Professional. Only after registration with IBBI one can practice as an insolvency Professional in India.
The format of examination is as under:
- a. The examination will be conducted online (computer-based in a proctored Environment) with objective multiple-choice questions.
- b. The duration of the examination will be two hours.
- c. A candidate will be required to answer 87 questions in two hours for a total of 100 marks.
- d. There will be negative marking of 25% of the marks assigned for the question.
- e. Passing mark for the examination is 60%.