Applicant need to go through three stages for taking the examination :
Stage I:- Visit www.ibbi.gov.in/limited-insolvency.html or www.nism.ac.in/certification and Click on ‘Register for Exam’ button. Applicant will be taken to “Candidate registration form”. Provide email address and identity details, set a password, upload your photograph and PAN Card and then submit the form online. This is a one-time registration. No fee is payable for registration. Hereafter, applicant can access the examination system with his/her user id which is his/her email address and the password set at the time of registration. Applicant can change the password whenever he wants.
Stage II:- Applicant can decide the date of examination. Then visit www.ibbi.gov.in/limited-insolvency.html or www.nism.ac.in/certification to enrol him/her for the examination. Applicant need to select ‘IBBI-Limited Insolvency Examination’. Click on “Register and Enroll Online” link and access the system with user ID created in Stage I to choose the time and the day of examination and also choose the examination centre from where applicant would like to take the examination. After selecting time, day and centre, please pay examination fee of Rs.1000 online by using Credit Card / Debit Card / Net Banking.Thereafter,you can download your Admit Card for the examination.
Stage III:- Carry Admit Card and arrive 30 minutes before the scheduled time at the examination centre. Applicant will be provided a computer screen a question paper which carries 90 questions for 100 marks. Each question has four alternate answers. Applicant need to select the correct answer. A wrong answer attracts negative marks. Answer all the 90 questions within two hours and submit the answer paper at any time within the said two hours. If an applicant do not submit the answer paper earlier, the paper will be auto submitted by the system on expiry of two hours. 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 the marks you have scored in the examination. If you score 60 marks or above, you are declared successful in the examination. In that case, you would be issued a pass certificate by the IBBI within 30 days of the examination. You would be eligible to apply for registration as an insolvency professional with the temporary mark sheet and you need not wait to get the pass certificate from the IBBI. If you do not pass the examination and wish to take the examination again, you need to repeat stage II and stage III, as many times as you wish.