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Limited Insolvency Examination under IBBI Regulations

The IBBI (Insolvency Professionals) Regulations, 2016 allow chartered accountants, company secretaries, cost accountants and Advocates with 10 years’of post-membership experience (practice or employment) or Graduates with 15 years’of post qualification managerial experience to be registered as IPs on passing the Limited Insolvency Examination. For this purpose, the IBBI launched the Limited Insolvency Examination on 31st December, 2016. It constituted an Examination Committee of Officers to finalise the syllabus and the questions for the examination. The Examination Committee published the syllabus for the examinations (being conducted from 31st December 2016 to 30th June 2017) on 30th November, 2016, FAQ on examination on 14th December, 2016 and one sample question paper on 28th December, 2016 on the web site of the IBBI.

The IBBI has assigned administration of the Limited Insolvency Examination to National Institute of Securities Markets (NISM).

The format of examination is as under:

a. The examination is conducted online (computer-based in a proctored environment) with objective multiple choice questions;

b. The duration of the examination is two hours;

c. A candidate is required to answer 90 questions in two hours for a total of 100 marks;

d. There is a negative marking of 25% of the marks assigned for the question;

e. Passing mark for the examination is 60%;

f. A candidate is issued a temporary mark sheet on the submission of examination paper;

g. Passing candidate is awarded a certificate by the IBBI; and

h. No workbook or study material is provided.

The frequency of examination is as under:

a. The examination is available from 100 + locations in the country;

b. The examination is available from 31st December, 2016 between 9:30 AM and 5:30 PM;

c. The enrolment for examination is open from 15th December, 2016;

d. A candidate pays an examination fee of Rs.1000 (Rupees one thousand only) online on every enrolment.

Source- http://www.ibbi.gov.in/IBBI_Newsletter_Web.pdf
Categories: Corporate Law

View Comments (3)

  • Kindly clarify if CA with 15 years of own practice is also required to pass an examination to become an I P professional .

    • Yes he will also have pass the exam..other wise he will get limited period registration which is for 6 months ..within which if he doesn't clear exams then his registration get cancelled...however if he has received any work in between he can continue with the same but he he cannot take any other assignment.feel free to call me on 9819433452

  • hello sir,
    Recently I have qualified CA so I just want to know whether I am eligible to appear in the examination to become a team member of IP.?

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