IBBI Limited Insolvency Exam Pattern and Passing Marks
65 questions, 100 marks, 2 hours, 60 to pass, and a penalty for every wrong answer. Only about 1 in 6 attempts passed last year.
The IBBI Limited Insolvency Examination is a single online paper of 65 multiple-choice questions for 100 marks, with 2 hours to answer. 30 questions carry 1 mark each and 35 carry 2 marks each. You need 60% to pass, and every wrong answer costs a quarter of that question's marks.
It is not an open-book exam. You sit it on a computer at a proctored test centre run by IBBI's test administrator, NSEIT Limited, and no study material or electronic devices are allowed in the room.
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IBBI LIE Exam Pattern at a Glance
| Feature | Detail |
|---|---|
| Questions | 65 MCQs (30 of 1 mark + 35 of 2 marks) |
| Total marks | 100 |
| Duration | 2 hours |
| Pass mark | 60% (60 out of 100) |
| Negative marking | 25% of the question's marks: -0.25 on a 1-mark question, -0.5 on a 2-mark question |
| Unanswered questions | Zero marks, no penalty |
| Case studies | 35 two-mark questions in 6 case sets, worth 70 marks |
| Mode | Online, computer-based, at a proctored test centre |
| Open book? | No |
| Result | Provisional mark sheet on screen as soon as you submit |
How the Paper Is Built
Each candidate's paper is generated by the system from IBBI's question bank, so no two papers are the same. The structure never changes.
- 1
30 one-mark questions (30 marks)
Standalone MCQs on the Code, its rules and regulations, business laws, general laws, finance and accounts, general awareness and five prescribed case laws.
- 2
35 two-mark questions (70 marks)
Grouped into 6 case studies: a narrative, then a set of questions on it. Two CIRP-and-liquidation cases carry 10 questions each; pre-pack, individual insolvency and business/general laws carry 4 each; ethics carries 3.
Why the Screen May Show Fewer Than 65 Questions
The testing platform counts each case study as a single item, so the question counter can show far fewer than 65. IBBI's FAQ confirms this: when you count the sub-questions inside the six case sets, you still get all 65.
Questions in the format described above. No signup.
How Negative Marking Changes the Maths
A wrong answer on a 2-mark case-study question costs 0.5 marks. A wrong 1-mark answer costs 0.25. An unanswered question costs nothing.
Do the arithmetic on a four-option question (the format of IBBI's model paper) and a pure random guess still comes out very slightly ahead on average: a 1-in-4 chance of the full marks against a 3-in-4 chance of losing a quarter. Rule out even one option and guessing is clearly worth it. The penalty mainly punishes confident wrong answers, the ones you were sure about and never checked.
Because 60 marks are needed, the margin is thin. Five wrong 2-mark answers cost 2.5 marks on top of the 10 they failed to earn, which can be the difference between passing and failing.
How Many Candidates Pass
IBBI publishes attempt and pass counts each quarter. These are attempts, not people: many candidates sit more than once.
July-September 2025
Attempts
155
Passed
24
Pass rate
15.5%
October-December 2025
Attempts
174
Passed
23
Pass rate
13.2%
January-March 2026
Attempts
177
Passed
29
Pass rate
16.4%
April-June 2026
Attempts
211
Passed
37
Pass rate
17.5%
July 2025 - June 2026
Attempts
717
Passed
113
Pass rate
15.8%
All attempts since January 2017
Attempts
33,409
Passed
5,875
Pass rate
17.6%
| Period | Attempts | Passed | Pass rate |
|---|---|---|---|
| July-September 2025 | 155 | 24 | 15.5% |
| October-December 2025 | 174 | 23 | 13.2% |
| January-March 2026 | 177 | 29 | 16.4% |
| April-June 2026 | 211 | 37 | 17.5% |
| July 2025 - June 2026 | 717 | 113 | 15.8% |
| All attempts since January 2017 | 33,409 | 5,875 | 17.6% |
Exam-Day Rules
- check_circleArrive 30 minutes early with a printed admit card and an original PAN card, Aadhaar card or passport. Without both you are not allowed in.
- check_circleNo books, notes, mobile phones or smart watches. IBBI provides no workbook in the exam.
- check_circleAnswers are checked by computer. There is no re-evaluation afterwards.
- check_circleIf you think a question is wrong, raise it at the test centre before you leave. IBBI considers only on-the-spot queries, and normally on no more than two questions.
- check_circleAny malpractice gets you debarred from every IBBI examination.
IBBI LIE Pattern: Common Questions
What are the passing marks for the IBBI exam?expand_more
60 out of 100, that is 60% of the total marks.
Is there negative marking in the Limited Insolvency Examination?expand_more
Yes. Each wrong answer loses 25% of that question's marks: 0.25 on a 1-mark question and 0.5 on a 2-mark question. Unanswered questions score zero with no penalty.
How many questions are in the IBBI exam?expand_more
65: 30 of 1 mark and 35 of 2 marks. The 2-mark questions come in 6 case-study sets.
Is it an open-book exam?expand_more
No. IBBI's FAQ states it is not an open-book examination, and no study material is allowed or provided.
When do I get my result?expand_more
Straight away. A provisional mark sheet appears on screen when you submit or when the 2 hours end. IBBI then issues a pass certificate within 30 days.
Check Before You Book
IBBI revises the fee, syllabus and exam rules from time to time and announces each change on its Limited Insolvency Examination page. Confirm the latest there before you book or pay.
Next steps
Take a full IBBI LIE mock testSimulate the real 65-question, 2-hour paper.