Ankur | Apr 22, 2022 |
FAQs on Limited Insolvency Examination
Yes. The Limited Insolvency Examination (examination) is mandated under regulation 5 of the Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016 made under the Insolvency and Bankruptcy Code, 2016. It is one of the mandatory conditions for registration as an insolvency professional.
All the details regarding valid qualifications and experience have been provided in the FAQs for registration as an Insolvency Professional. The same can be accessed at https://ibbi.gov.in/faqs. Any further clarifications can be sought from the Insolvency Professionals Division of the IBBI by writing to [email protected].
You need to be sure as to why you wish to take the Examination. If you wish to be an insolvency professional, please satisfy yourself that you are eligible for the same. If you wish to apply for a job which requires a pass in this Examination, please satisfy yourself that you are eligible for the job. Thereafter, you need to go through the following three stages. Follow instructions given on the computer screen at every stage.
Stage I: Registration with the system Please visit https://ibbi.gov.in/examination/view-examination/18 and Click on ‘Register and Enrol Online’ button. You will be taken to ‘Candidate registration form’. You will be taken to the NSEIT’s candidate registration portal.
Please provide your e-mail address and identity details, set a password, upload your photograph, PAN Card, and then submit the form online. You will receive an activation link on your registered e-mail address. Please click on this link to verify your e-mail address. No fee is payable for registration.
This is a one-time registration, and you will be provided with log-in credentials i.e., user ID and password. Thereafter, access the examination system with these credentials and manage all future activities like enrolment, slot selection, fee payment etc. Every candidate is requested to create a single user ID only and use the same for all purposes.
Stage II: Enrolment and slot selection In order to enrol for a particular examination and time slot visit https://ibbi.gov.in /examination/view-examination/18. Click on “Register/Enrol Online” link and access the system with user ID created in Stage I. The candidates can check the slot availability in the “Center Details” tab.
After logging in, a “Book Seat” tab will automatically be activated in the candidate profile where the candidate can select Test City, Test Centre Name, Test Date, Test Time etc. Once you have selected the seat, click on the “Payment” link, and proceed with the online payment. of applicable Examination fee to complete the enrolment. Payment can be made using Debit Card / Net Banking/ Credit Card. Candidate can download the Admit Card from the hyperlink under the “Candidate Dashboard” tab.
Stage III: Taking the examination Please carry a printout of the Admit Card, original PAN Card/Aadhar Card/Passport and arrive 30 minutes before the scheduled time at the examination centre. Please note that without the Admit Card and the Original Photo Identity proof (as mentioned above), candidates shall not be permitted to appear for the Examination.
If you do not pass the examination and wish to take the examination again, you need to repeat stage II and stage III. However, candidates may note that payment link as mentioned in Stage II will be activated 24 hours after the expiry of the earlier examination slot.
You can check the availability of date and time at the examination centre of your choice from the “Slot availability” section under the “Center Details” tab in registration portal. The process to access is same as provided in ‘Stage II’ in question 3 above.
The prescribed fees for Limited Insolvency Examination, currently is Rs. 1500+Applicable GST i.e. Rs. 1770 (Rupees One Thousand and Seven Hundred Seventy only) for every enrolment. It has to be paid during enrolment and can be paid using Debit Card / Net Banking / Credit Card. The payment gateway charges, if any, shall be borne by the candidates.
You can appear for the examination any number of times till you clear the examination. You have to enrol yourself afresh and pay the examination fee for each enrolment. However, you may note that payment link will be activated only 24 hours after the expiry of the earlier examination slot.
It may be noted that rescheduling is not permitted unless there is a bona-fide reason. All such requests must be addressed to the Test Administrator NSEIT at [email protected]. Further, you may note that a request for rescheduling shall be made 15 days prior to the date of examination. Any request made thereafter will not be accepted. Therefore, the candidates are advised to carefully plan and schedule their examination.
IBBI has notified the syllabus including list of case laws for the examination which can be accessed from IBBI website at https://ibbi.gov.in/examination/view-examination/18.
IBBI does not provide/recommend any study material or workbook for the examinations. You may use the books or other resources available on the subject. Some study material that the candidates may find useful is placed at https://ibbi.gov.in/publication /study materials. The candidates may apply their conscious in their use.
No. You cannot refer to any of the books or other resources during the Examination. It is not an open book examination.
The examination is based on multiple choice questions which are to be answered within time period of 2 hours. The maximum score is 100. And 60% and above is considered successful. There is a negative marking of 25% for each wrong answer.
The question paper will have a total of 65 questions, out of which 30 questions will be of 1 mark each and 35 questions of 2 marks each. Questions include those based on case studies also. Each question paper is unique, derived by the system and hence is randomized and comprehensive in terms of coverage of the syllabus.
A sample question paper is available at https://ibbi.gov.in/examination/viewexamination/18.
As per the structure of examination, there are 65 questions out of which 35 questions are based on six transaction analysis studies, which appear as six cohesive groups in your examination paper. As the computer system draws these questions based on case study as a set, these appear as a single question and the testing platform only displays the count of single questions attempted, but when the sub questions of the case study are taken into account, you would have received a total of 65 multiple-choice questions in your examination.
Immediately on submission of the answer paper or expiry of two hours whichever is earlier, a temporary mark sheet would be displayed on the computer screen indicating your result including marks scored. . You will also receive a pass certificate from IBBI.
Fee paid towards the examination is non-refundable.
As the examination dates are available in advance, the candidates are expected to book their examination date after careful planning. Candidates may also note that rescheduling cannot be claimed as a right and is allowed only once provided such request for rescheduling is received at least fifteen days before the scheduled examination date.
Successful candidates, those securing 60% marks or above, will be issued a pass certificate by IBBI within 30 days of passing the examination. The pass certificate issued is based on the details as provided by the candidate at the time of registration in the examination portal. Candidates are therefore advised to exercise abundant caution while providing details at the time of registration.
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