IBBI Limited Insolvency Exam: pattern, syllabus and full mock tests
The exam IBBI requires before you can register as an insolvency professional under the IBC.
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The Limited Insolvency Examination is conducted by the Insolvency and Bankruptcy Board of India (IBBI) under regulation 5 of the IBBI (Insolvency Professionals) Regulations, 2016, through its test administrator NSEIT. Passing it is one of the conditions for registering as an insolvency professional, the person who runs corporate insolvency resolution, liquidation and individual insolvency processes under the Insolvency and Bankruptcy Code, 2016.
Eligibility Criteria
schoolEducation
IBBI sets no published qualification for sitting the exam. To register as an insolvency professional afterwards you need 10 years as a CA, CS, cost accountant or advocate; 10 years in law or management after an LLB, master's in management or two-year PGDM; 15 years in management after a degree; or IBBI's Post Graduate Insolvency Programme.
cakeAge Limit
No age limit is published for the exam. Registration as an IP is barred for minors, and an IP can obtain an Authorisation for Assignment only before turning 70.
flagNationality
Test centres across India. Registration as an IP requires you to be resident in India.
Exam Pattern
One online, computer-based paper at a proctored test centre: 65 MCQs for 100 marks in 2 hours. 30 questions carry 1 mark and 35 carry 2 marks; the 2-mark questions come in six case studies worth 70 marks in total. A wrong answer loses 25% of the question's marks and 60% is needed to pass. It is not open book. Laws are tested as in force on 4 February 2025. The exam runs on every working day, and you can retake it any number of times with a 21-day gap.
Limited Insolvency Examination
Online (computer-based, proctored centre)120 min| Section | Questions | Marks |
|---|---|---|
| Code, regulations, business and general laws, finance, general awareness, case laws (1 mark each) | 30 | 30 |
| Case studies: CIRP and liquidation, pre-pack, individual insolvency, laws, ethics (2 marks each) | 35 | 70 |
Key Topics & Syllabus
The Code and Its Regulations (10%)
- check_circleThe Insolvency and Bankruptcy Code, 2016 (4%)
- check_circleRules and regulations under the Code (6%)
Business Laws (4%)
- check_circleCompanies Act, 2013: chapters III-VII, IX, XV, XVII, XVIII, XX, XXVII-XXIX
- check_circlePartnership Act, 1932 and LLP Act, 2008
- check_circleIndian Contract Act, 1872 (listed sections) and Sale of Goods Act, 1930
General Laws (7%)
- check_circleNI Act, Transfer of Property Act, CPC (listed sections, Order 21), Limitation Act
- check_circlePrevention of Corruption Act and PMLA (listed sections), RDB Act, Arbitration Act, SARFAESI
- check_circleMSMED Act, RERA (listed sections), SCRA and SEBI Takeover/LODR/ICDR/Delisting Regulations
- check_circleEPF Act, Mediation Act 2023, DPDP Act 2023
Finance, General Awareness and Case Laws (9%)
- check_circleCorporate finance, financial analysis, liquidity management, tax planning and GST (2%)
- check_circleConstitution, workmen's rights, economics, financial markets, valuation, forensic audit (2%)
- check_circleFive questions on IBBI's list of 72 prescribed judgments (5%)
Case Studies (70%)
- check_circleTwo on CIRP and liquidation (20 marks each)
- check_circlePre-packaged insolvency resolution (8)
- check_circleIndividual insolvency and bankruptcy (8)
- check_circleBusiness and general laws (8)
- check_circleBusiness and professional ethics (6)
Inside IBBI Limited Insolvency Premium
Full 65-question mocks
Timed mock tests that follow the real pattern: 30 one-mark questions and six case-study sets, 2 hours, with negative marking applied.
Case-study practice
Full narratives on CIRP, liquidation, pre-pack and individual insolvency, so the 70-mark section stops being a surprise.
Area-wise practice
Drill the Code, the regulations, business and general laws and the prescribed case laws separately, so weak areas get extra repetition.
Explained answers
Every question explains the section, regulation or judgment it tests, not just the correct option.
Career Roles & Salary
Insolvency Professional
Fees set per assignment
Registered IPs act as interim resolution professional, resolution professional, liquidator or bankruptcy trustee. IBBI had 4,359 individual IPs as on 30 June 2026.
Resolution Professional
Appointed by the Committee of Creditors
Runs the company during CIRP, collates claims, runs CoC meetings and puts resolution plans to the vote.
Liquidator
Fee as the Liquidation Regulations provide
Takes over a company's assets when no plan succeeds, realises them and distributes the proceeds in the order the Code sets.
Insolvency Advisory and Support
Firms, banks, ARCs
Advisory firms, insolvency professional entities, banks and asset reconstruction companies value people who know the Code and process in depth.
Full mock tests for IBBI Limited Insolvency Exam
Everything above is free. When you're ready for unlimited full-length mocks, complete question banks and answer explanations, unlock IBBI Limited Insolvency Exam Premium - or read the full mock-test breakdown.
Each attempt costs ₹5,900, non-refundable, and a fail means waiting at least 21 days to sit again. Premium costs ₹399, once.
You save ₹600
- Full 65-question mocks
- Case-study practice
- Area-wise practice
One payment, no subscription · Valid for 2 months
How to Prepare
Check the IP eligibility rules
The exam is open, but registration needs one of the regulation 5 routes. A pass is usable for 24 months, so time it to your experience.
Register on the NSEIT portal
From IBBI's Limited Insolvency Examination page. Registration is free and needs your email, photo and PAN card.
Book a slot and pay
Choose city, centre, date and time on any working day, and pay ₹5,900 online.
Study the Code and regulations
Laws as in force on 4 February 2025, IBBI's 72 prescribed judgments, and plenty of case-study practice.
Take the exam
65 MCQs in 2 hours at the test centre. Score 60/100; wrong answers lose 25% of the question's marks.
Enrol with an IPA and register
Join an insolvency professional agency within 24 months, apply to IBBI through it and complete the 50-hour pre-registration course.
Important Dates (Tentative)
| Event | Expected Date |
|---|---|
| Exam availability | Every working day, booked online |
| Current exam series | From 1 July 2025 (laws as on 4 February 2025) |
| Retake gap | 21 days between attempts |
| Pass certificate | Within 30 days of passing |
* Dates are indicative based on historical patterns. Check the official website for confirmed dates.
Prepare for IBBI Limited Insolvency Exam the smarter way
Free mock tests, chapter-wise practice questions and a personalized study plan, built around the latest IBBI Limited Insolvency Exam pattern.
IBBI Limited Insolvency Exam guides
- SyllabusThe official IBBI Limited Insolvency Examination syllabus: all 8 subject areas with their weights, the six case studies worth 70 marks, and the 72-case law list.
- Exam PatternThe IBBI Limited Insolvency Examination pattern: 65 MCQs for 100 marks in 2 hours, 25% negative marking, 60% to pass, and six case-study sets worth 70 marks.
- Eligibility & RegistrationWho can take the IBBI Limited Insolvency Examination, how to register and book a slot on the NSEIT portal, and what you need on exam day.
- Fees & ValidityThe IBBI Limited Insolvency Examination fee (₹5,000 + GST = ₹5,900 per attempt), the 21-day retake gap, refund rules, and how long a pass stays valid.
- Exam DatesThe IBBI Limited Insolvency Examination runs on every working day. How to check slot availability, book a date, reschedule and plan around the 21-day gap.
- Previous Year PapersIBBI does not release past Limited Insolvency Examination papers. What the official model paper covers, and how to build your own question bank instead.
- Study MaterialIBBI prescribes no book for the Limited Insolvency Examination. The official sources worth reading: the Code, IBBI regulations, the case-law list and IBBI's study materials.
- PreparationA realistic IBBI Limited Insolvency Examination study plan: start with CIRP and liquidation, train for case studies, and handle the 25% negative marking.
- Become an IPThe full route to IBBI registration: pass the Limited Insolvency Examination, meet the experience rule, enrol with an IPA, finish the 50-hour course and apply.
IBBI Limited Insolvency Exam FAQ
Who conducts the IBBI Limited Insolvency Examination?
IBBI, through its test administrator NSEIT Limited. NISM is not involved: it administers IBBI's separate Valuation Examinations.
What are the passing marks?
60 out of 100. Each wrong answer loses 25% of that question's marks; unanswered questions score zero.
What is the IBBI exam fee?
₹5,000 plus GST, ₹5,900 in total, per attempt. It is non-refundable.
How many attempts are allowed?
Unlimited, with a 21-day cooling-off period between consecutive attempts.
How long is the pass valid?
For IP registration, the pass must be within 24 months before you apply to enrol with an insolvency professional agency. It was 12 months until April 2025.
How hard is the exam?
Hard: IBBI's newsletter shows 113 passes from 717 attempts between July 2025 and June 2026. Case studies carry 70 of the 100 marks.
Are previous year papers available?
No. Each paper is system-generated and IBBI does not disclose questions. It publishes one model question paper with answers for the current series.
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