IBBI Limited Insolvency Exam Question Papers
IBBI keeps its question bank private. It publishes one model paper. Here's how to use it, and what to do next.
IBBI does not publish previous year question papers for the Limited Insolvency Examination, and it will not disclose questions or answers even to candidates who failed. Its FAQ says that doing so would breach the confidentiality of the question bank.
There is also no single "paper" to release. Each candidate's paper is generated by the system from IBBI's question bank, so the 65 questions you get differ from those of the candidate in the next seat. Anything sold as an "IBBI previous year paper" is a reconstruction from memory at best.
You save ₹600
- Full 65-question mocks
- Case-study practice
- Area-wise practice
One payment, no subscription · Valid for 2 months
What IBBI Does Publish: One Model Paper
IBBI publishes a model question paper for the current series (w.e.f. 1 July 2025) on its Limited Insolvency Examination page, with the answer to every question. It follows the real structure exactly: 30 one-mark questions, then 6 case-study sets making up the 35 two-mark questions. It is the only official practice paper.
How the Model Paper Is Laid Out
The layout mirrors the syllabus weights, so it doubles as a map of the real exam.
1-30
Type
1 mark each
Covers
The Code, regulations, business and general laws, finance, general awareness and five case-law questions
31-40
Type
2 marks each (case set)
Covers
Corporate insolvency resolution and liquidation
41-50
Type
2 marks each (case set)
Covers
Corporate insolvency resolution and liquidation
51-54
Type
2 marks each (case set)
Covers
Pre-packaged insolvency resolution
55-58
Type
2 marks each (case set)
Covers
Individual insolvency and bankruptcy
59-62
Type
2 marks each (case set)
Covers
Business and general laws
63-65
Type
2 marks each (case set)
Covers
Business and professional ethics
| Questions | Type | Covers |
|---|---|---|
| 1-30 | 1 mark each | The Code, regulations, business and general laws, finance, general awareness and five case-law questions |
| 31-40 | 2 marks each (case set) | Corporate insolvency resolution and liquidation |
| 41-50 | 2 marks each (case set) | Corporate insolvency resolution and liquidation |
| 51-54 | 2 marks each (case set) | Pre-packaged insolvency resolution |
| 55-58 | 2 marks each (case set) | Individual insolvency and bankruptcy |
| 59-62 | 2 marks each (case set) | Business and general laws |
| 63-65 | 2 marks each (case set) | Business and professional ethics |
Original questions on the published syllabus. No signup.
How to Use the Model Paper
One paper is a scarce resource. Don't spend it on day one.
- 1
Read it once, early, without answering
Note how long the case narratives are and how the questions hang off them. That shapes how you study.
- 2
Save the real attempt for later
Once you have covered CIRP, liquidation and the regulations, sit it in one go, in 2 hours, with no notes.
- 3
Mark it with negative marking
Deduct 25% of the marks for each wrong answer: 0.25 or 0.5. Your raw score flatters you otherwise.
- 4
Trace every miss to its source
Find the section, regulation or judgment behind each wrong answer and read it in full. Laws are tested as they stood on 4 February 2025, so check you are reading that version.
Building Your Own Question Bank
With one official paper, most of your practice has to come from somewhere else. The best question bank is one built on the same sources IBBI writes from: the Code, the IBBI regulations, the 72 prescribed judgments and the business and general laws on the syllabus.
For case studies, practise with full narratives, not one-line questions. The skill being tested is reading a long set of facts, spotting which timeline, threshold or voting rule applies, and doing it ten times in a row without losing track.
Also learn the glossary attached to IBBI's FAQ (CD, CoC, FC, OC, PPIRP and so on). The exam uses these abbreviations without spelling them out.
IBBI Question Papers: Common Questions
Where can I download IBBI Limited Insolvency Exam previous year papers?expand_more
Nowhere official. IBBI does not release them, and every candidate's paper is system-generated. The only official paper is the model question paper on IBBI's exam page.
Does the model paper have answers?expand_more
Yes. Each question in IBBI's model paper for the current series is followed by its answer option.
Can I see my own answer sheet after the exam?expand_more
No. IBBI will not disclose or discuss questions or answers after the exam. You can only raise a doubt about a specific question at the test centre, before you leave.
Are questions repeated?expand_more
IBBI doesn't say. Papers are drawn from a question bank, so the safer assumption is that you will see unfamiliar questions on familiar rules.
Next steps
Practise the full 65-question formatTimed, scored and negatively marked, as a past paper would be.