ICO Exam Pattern

The International Commerce Olympiad (ICO), a single-level test, is co-sponsored by the Science Olympiad Foundation (SOF) and the Institute of Company Secretaries of India. Students in grades 11 and 12 are eligible to participate in ICO. Every ICO exam student receives a Student Performance Report (SPR) that analyses their exam results.

The SOF ICO is held in collaboration with the Institute of Company Secretaries of India, a statutory entity established by an Act of Parliament and administered by the Ministry of Corporate Affairs. Students who plan to take the test should familiarise themselves with the ICO Exam Pattern and prepare accordingly.

Key Points of the ICO

The key points of ICO examinations are tabulated below.

Full-Form of ICO

International Commerce Olympiad

Conducting Body




Mode of Application


Frequency of Conduction

Annually Once

Mode of Exam

Computer-based Test or OMR

Exam Duration

One hour

2021-22 ICO Examination Pattern

The structure of the question paper is the same for all the classes. The following is the paper pattern for the 2021-22 International Commerce Olympiad:

Types of Questions

Objective or Multiple-choice questions

Duration of the Examination

60 minutes or 1 hour



  • There are only objective or multiple-choice questions in the exam paper.
  • The exam has a maximum time limit of 1 hour or 60 minutes for the student to complete it.
  • English should be the medium and language of communication in question papers and other exam-related materials supplied to schools and students.
  • The question paper is divided into four sections: Economics, Business Studies, Accountancy, and Achievers.
  • The test papers are based on CBSE, ICSE/ISC, and State Board Syllabus.
  • Level 1 of the SOF ICO is held on two dates. Each school may choose a date for the SOF ICO convenient for them. Each exam date has its own set of question papers. It is not possible to change the date of the SOF ICO.
  • The exam is conducted only during school hours. There are no additional test hours scheduled before or after school hours.



Number of Questions


Total Marks

11th and 12th





Business Studies








Achievers Section




Grand Total



Frequently Asked Questions on ICO Exam Pattern

Who is eligible to participate in the SOF ICO?

Students in grades 11 and 12 can participate in the SOF ICO. There are no other eligibility requirements, such as minimum scores. The SOF ICO examination has only one level. Students from the sciences, commerce, and humanities are eligible to compete in the SOF ICO.

How are ICO exams conducted in schools?

The SOF administers the ICO tests in the schools where the participants have enrolled. It will be a written exam conducted during regular school hours. The students will be handed an OMR sheet to answer the objective questions. The most significant advantage of this test is that it has no negative marks. As a result, students should feel free to attempt all the questions.

What is the most effective strategy for me to study for the Olympiad Exams?

Here is some essential advice from professionals for students preparing for the Olympiad examinations.

  • Understanding what has to be learned is crucial. As a result, reviewing the curriculum is a brilliant idea.
  • Create an intense study schedule for yourself and stick to it.
  • Make an effort to comprehend the concepts in more depth. This will aid you in earning the best grade possible.
  • To boost your confidence, solve the previous year’s exam papers.</div>

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