The international commerce Olympiad is an examination of trade conducted all over the globe for the students of classes 11th-12th. This examination is operated by the Science Olympiad Foundation (SOF) and the institute of company secretaries of India mutually. The foundation of this exam was laid in 2016 by SOF. Later, the institute of the company secretary of India joined it, and they started working together. Many prizes and rewards are provided to the best students; a student performance report is formed to maintain the complete ability of the students in one go. In addition, ICO offers scholarships to the top students every year. This examination provides students with a sight of the acknowledged end interest in commerce. They can also analyze their strength through exams of different levels, such as base, regional, national, and international.
Examination name | International commerce Olympiad(ICO) |
Sponsored by | SOF |
Times of conduction | Once a year |
Mode of examination | Offline |
language | English |
Duration of exam | One hour |
Types of questions | Objective based questions |
Eligibility criteria for ICO( INTERNATIONAL COMMERCE OLYMPIAD)
- The students of classes 11th and 12th can participate in the examination of ICO( international commerce Olympiad). Else there is no such required eligibility for the test.
- It is a one-level examination held annually, and the students of all the streams, such as science, commerce, and humanities, can participate in the exam.
- Every school can send five students at a time, except there is no requirement for the examination, such as stream, minimum marks, etc.
- At least 20 students should participate in each class every year. There are no gender restrictions in the conduction of the examination.
Exam pattern for ICO( INTERNATIONAL COMMERCE OLYMPIAD)
The question paper consists of multiple choice-based questions, and there are 50 questions, and the time allotted for the exam completion is 60 minutes. It is a one-level test with four subjects, such as accountancy, business, economics, and achievers sections.
class | section | No. of questions | Marks of 1 question |
11th and 12th | economics | 15 | 1 |
Business studies | 15 | 1 | |
accountancy | 15 | 1 | |
Achievers section | 5 | 3 | |
Total | 50 | undefined |
Section 1 consists of economics which studies the production, firms, consumption of goods and services, households, distribution of income and resources, and government. It helps to provide knowledge about the use of resources so that they can be saved for future generations.
Section 2 consists of business studies that comprise all business ethics, such as the deep study of marketing, finance, accountancy, and organization. It helps to provide a complete knowledge of the substantial nature of business and how money should be operated while dealing with the organization.
Section 3 consists of accountancy subjects which comprise the recording of entries and allocating transactions; it provides an outline to cope with the financial problems that arise in the business. It helps to overcome all the financial and management issues.
Section 4 consists achievers section; this section comprises logical reasoning and high-order thinking. It is the scoring team.
Syllabus of ICO( INTERNATIONAL COMMERCE OLYMPIAD)
Syllabus of class 11th
Section | Syllabus of the section |
Economics section | The topics of this subject include: Introduction to microeconomics Statistics of economics |
Business Section | The topics of this subject include: Some critical issues: 1. Nature and purpose of business 2. forms of business organization 3. public, private, and global enterprises 4. business services 5. emerging modes of businesses 6. social responsibility of business and business ethics 7. the source of business finance 8. small business 9. Internal trade 10. international business |
Accountancy section | The topics of this subject include; Part A- a theoretical framework for accounting Introduction to Accounting Theory base of accounting Part B- a theoretical framework for accounting Recording of business transaction Preparation of bank reconciliation statement, ledger, and trial balance Rectification of errors in accounting Depreciation, provision, and reserves Accounting for the bills of exchange Part C- optional: Financial statement of a sole proprietorship: from complete records only |
Achievers section | This topic includes high-level thinking, logical reasoning, and questions based on economics, business studies, and accountancy. |
Syllabus of class 12th
Section | Syllabus of the section |
Economics section | The topics of this subject include: Introductory microeconomics Indian economic development |
Business Section | The topics of this subject include: Nature and significance of management Principle of management Business environment Planning Organizing Staffing Directing Controlling Financial management Financial markets Marketing management Consumer protection |
Accountancy section | The topics of this subject include: Financial statement of a non-profit organization Accounting for a partnership firm Analysis of financial statement Computerized Accounting |
Achievers section | This topic includes questions of economics, accounting, and business studies related to higher-order level thinking and reasoning skills. |
Result of ICO( INTERNATIONAL COMMERCE OLYMPIAD)
The result is announced directly by the Science Olympiad Foundation (SOF) within 4-6 weeks of the examination. To get their results online, students can fill in their roll number and registration details in the given blanks. Many students pass this exam. The result can either be obtained from online mode or offline mode as well. The students can visit the official website of the science Olympiad foundation to get the details of the results.
Awards for ICO (international commerce olympiad)
International level
Rank | Awards | No of awards |
1 | Rs 1,00,000/- + international gold medal + certificate | 2 |
2 | Rs 75,000/- + silver medal +certificate | 2 |
3 | Rs 50,000/- +bronze medal+ certificate | 2 |
4 | 25,000/- + distinction medal + certificate | 2 |
5 | 10,000/- +distinction medal + certificate | 2 |
At zonal level
1st | Rs 5000/- + zonal gold medal + certificate | 52 |
2nd | Rs 2500/- + silver medal +certificate | 52 |
3rd | Rs 1000/- + distinction medal + certificate | 52 |
4th – 10th | A gift worth rs 500+ distinction medal + certificate | 364 |
11th to 25th | Distinction medal + certificate | 780 |
26+ | Participation certificate | All |
At school level
International level
Category | Awards | Number of awards |
Best principle | INR 50,000+citation Trophy | 2 |
Best teacher | INR 10000+ Citatrion trophy | 2 |
Awards at the zonal level
Category | awards | Number of awards |
Best principle | citation + trophy | 130 |
Best teacher | Citation+ trophy | 26 |
Registration of ICO ( INTERNATIONAL COMMERCE OLYMPIAD)
The SOF (Science olympiad foundation) sponsors the ICO( international commerce olympiad) registration for the students of classes 11th and 12th. The participants should be the students of the affiliated board such as CBSE, ICSE, and state boards. Every school can send five children to represent their institution. The students can fill out the registration form that surfed online. The registration form contains all the essential details needed for the examination; they are provided with a roll no and admit card, which they can use in their exams. After filling out the registration fees, they can download the form.
FAQs
- What is the complete form of the ICO olympiad?
The complete form of ICO is the international commerce olympiad.
- Is the ICO exam offline or online?
The ICO exam is conducted both in online and offline mode.
- What is the best country for ICO?
The best country for ICO is Switzerland.
- Is there any negative marking in the ICO examination?
No, there is no negative marking in the examination.
