IBBI Limited Insolvency Exam Mock Tests & Practice Questions
The Limited Insolvency Examination is the exam IBBI requires before you can register as an insolvency professional: 65 MCQs for 100 marks in 2 hours, with 70 marks riding on case studies. You need 60% and every wrong answer costs marks, which is why only 113 of 717 attempts passed between July 2025 and June 2026. These mocks follow the real pattern so you know your score before you pay ₹5,900 to find out.
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Why candidates fail the IBBI exam
They expect experienced CAs, CSs and lawyers to pass easily, but IBBI's own figures show just 113 of 717 attempts cleared it between July 2025 and June 2026.
They study the Code as a reading exercise, then meet 70 marks of case studies that ask them to apply CIRP timelines, CoC voting thresholds and liquidation rules to a page of facts, ten questions at a time.
They answer everything on instinct and lose a quarter of the marks on every wrong answer, which is enough to pull a passing score below 60.
How IBBI Limited Insolvency is actually structured
The Limited Insolvency Examination is a single online paper of 65 multiple-choice questions for 100 marks, with 2 hours to answer, taken on a computer at a proctored test centre run by IBBI's test administrator, NSEIT. 30 questions carry 1 mark each and cover the Insolvency and Bankruptcy Code, its rules and regulations, business and general laws, finance, general awareness and five prescribed case laws. The other 35 carry 2 marks each and come in six case studies: two on CIRP and liquidation, and one each on pre-packaged insolvency, individual insolvency, business and general laws, and professional ethics. A wrong answer loses 25% of the question's marks, and you need 60 to pass. Laws are tested as they stood on 4 February 2025. The exam runs on every working day, costs ₹5,900 per attempt, and can be retaken any number of times with a 21-day gap.
Full IBBI Limited Insolvency exam pattern: marks, timing and passing score →
Everything about the IBBI Limited Insolvency exam
Syllabus, exam pattern, eligibility and the questions candidates ask most, each on its own page.
Built specifically for 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.
Each attempt costs ₹5,900, non-refundable, and a fail means waiting at least 21 days to sit again. Premium costs ₹399, once.
Updated for 2026
Content tracks the latest official syllabus and pattern.
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Questions people ask
What is the IBBI Limited Insolvency Examination?
It is the exam the Insolvency and Bankruptcy Board of India (IBBI) requires under regulation 5 of the IBBI (Insolvency Professionals) Regulations, 2016. Passing it is one of the conditions for registering as an insolvency professional.
Does NISM conduct the IBBI exam?
No. IBBI conducts the Limited Insolvency Examination through its test administrator, NSEIT Limited. NISM administers IBBI's separate Valuation Examinations for registered valuers.
What is the exam pattern?
One online paper of 65 MCQs for 100 marks in 2 hours: 30 questions of 1 mark and 35 of 2 marks, the 2-mark questions grouped into six case studies. It is not an open-book exam.
What are the passing marks and is there negative marking?
You need 60 out of 100. Each wrong answer loses 25% of that question's marks (0.25 or 0.5); unanswered questions score zero.
What is the IBBI exam fee?
₹5,000 plus GST, ₹5,900 in total, for every attempt. It is non-refundable. Registering on the NSEIT portal is free.
How many attempts are allowed?
Unlimited, with a cooling-off period of 21 days between consecutive attempts.
How long is a pass valid?
For registration as an insolvency professional, you must have passed within 24 months before applying to enrol with an insolvency professional agency. IBBI raised this from 12 months in April 2025.
Who can become an insolvency professional?
After passing, you need 10 years' experience as a CA, CS, cost accountant or advocate, 10 years in law or management after an LLB, MBA or two-year PGDM, 15 years in management after a degree, or IBBI's Post Graduate Insolvency Programme. Then you enrol with an IPA and complete its 50-hour pre-registration course.
When can I take the exam?
On any working day. You pick the city, centre, date and time slot when you book on the NSEIT portal, and see a provisional mark sheet on screen as soon as you submit.
What does ₹399 unlock?
Full-length mock tests in the real 65-question, 2-hour format with negative marking, area-wise practice sets, case-study practice and explained answers.
Clear the IBBI Limited Insolvency Exam on your first attempt
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