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Limited Insolvency Exam

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Guide to Limited Insolvency Exam

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About Limited Insolvency Exam

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%.
Frequently Asked Questions
Is this examination mandated under any law and for what purpose?
Yes. This examination is mandated under the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016 made under the Insolvency and Bankruptcy Code, 2016. It is one of the mandatory conditions for registration as an insolvency professional with the Insolvency and Bankruptcy Board of India (IBBI).
There are no eligibility criteria for appearing in the examination. However, please be informed that registration as Insolvency Professional will be governed by the regulations in force at the time of consideration of an application for registration as Insolvency Professional.
Cases up to 31st December 2017 are covered in the syllabus.
All the regulations that have been notified and amended under the Insolvency and Bankruptcy Code, 2016 till 31st December 2017 are covered in the syllabus.
The question paper carries 74 questions of 1 mark each and 13 questions of 2 marks each. You need to answer these 87 questions in 2 hours. Each question is followed by four alternate answers. You need to select the correct answer among these. A correct answer gives you the marks assigned to the question. A wrong answer attracts a negative mark of 25% of the marks assigned to the question. You need to score 60% to pass the examination.
No. It is not an open book examination.
You can appear for the examination any number of times till you clear the exam. However, you have to enrol yourself afresh and pay the examination fee for each enrolment
The examination is available on all days beginning 1st January 2018 from 9:30 AM to 5:30 PM from various examination centres across India.
About the exam
Type
Computer Based
Exam Duration
2 Hours
No. of Questions
87
Total Marks
100
Passing Marks
60
Negative Marking
1/4 of marks alloted to the questions
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