JIEB/CPI - Insolvency Qualifications
JIEB was established by a group of RPB's, in 1988, to conduct annual examinations in insolvency subjects. A pass in the examination set by the JIEB is a prerequisite for a registered student to apply for individual membership of IPA.
In 1995, the IPA introduced an intermediate level insolvency examination (CPI) to provide a qualification recognised both inside and outside of the insolvency profession as a test of competence in insolvency administration. The qualification is aimed at personnel who possess several years' experience in insolvency but who may not feel ready to sit the JIEB exam. The CPI is often used by candidates and employers as a stepping stone to the JIEB exams.
The entry requirements for the CPI are as follows:
- able to demonstrate a significant involvement in insolvency related work.
- GCE/GCSE/O level passes in five subjects plus two years' involvement in insolvency related work.
The CPI examination itself is a basic test of insolvency competence and consists of a single three hour paper held in late May or early June each year. The focus on the exams is corporate insolvency and, to a lesser degree, personal insolvency.
To become a fully Licensed Insolvency Practitioner, you must pass the Joint Insolvency Examination Board (JIEB) and satisfy either one of the recognised professional bodies (such as CCAB, IPA or the Law Society) or the DTI that you have the necessary practical experience. The requirements of these bodies differ from association to association but each one demands around 600 hours' practical insolvency experience gained over a 2 or 3 year period.
The JIEB exam sets out to assess the professional competence of candidates seeking to carry out the functions of a Licensed Insolvency Practitioner. The papers are demanding in both the depth and breadth of practical and technical knowledge required. The exams are held annually in November and consist of the following three 3 hour papers:
- Liquidations
- Personal Insolvency
- Receivership, Administrations and Company Voluntary Arrangements (CVAs)
Source: R3 - 'Making a Career as an Insolvency Practitioner'
Source: www.insolvency.gov.uk
Source: www.insolvency-practitioners.org.uk
Contact details
Insolvency Practitioners Association
52-54 Gracechurch Street
London EC3V 0EH
Telephone: 020 7623 5108
Fax: 020 7623 5127
Email: secretariat@insolvency-practitioners.org.uk
Web: www.insolvency-practitioners.org.uk