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SOF ICO (International Commerce Olympiad) - Syllabus, Exam Date and Results

By Satabdi MazumdarNovember 11, 2022
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SOF (Science Olympiad Foundation) has announced the exam dates for International Commerce Olympiad (ICO) 2022-23 sessions for the students from Classes 11 & 12. SOF International Commerce Olympiad (ICO) 2022-23 is a single-level competition exam conducted yearly by the Science Olympiad Foundation for the students of Classes 11 to 12. The exam provides an opportunity for the participants to showcase their talent at the school level, zonal level, and international level. 

Students get a chance to access, evaluate & polish their academic capabilities and have a better idea of utilising their potential in a branch of their interest, such as Science, Computer, Math, Commerce etc. The selected students are honoured with awards, medals, certificates and a substantial cash amount of up to INR 1 Lakh. 

All the interested & eligible candidates looking to apply for the SOF ICO must submit the registration forms through their schools. In this post, we are providing all the details related to SOF ICO 2022. Take a look:
Also Read: Study Plan for SOF Olympiads - IEO Exam

International Commerce Olympiad Exam Date 2022-23

Here are the dates for SOF International commerce olympiad 2022. Candidates can also check the SOF ICO exam date 2022-23 on the official website of SOF ie. 

Event Name

Exam Dates

SOF ICO - Date 1

22nd December 2022

Application Deadline

7th December 2022

SOF ICO - Date 2

24th January 2023

Application Deadline

9th January 2023

SOF ICO 2022-2023 Eligibility Criteria

To apply for the SOF International commerce olympiad, every candidate should make sure that they meet the following eligibility criteria:

  • Students from class 11 & 12 can apply. They can get themselves registered through their respective schools only since SOF doesn’t accept individual registrations of students.

  • Every participating school should have at least 5 interested students to apply in SOF ICO.

  • Candidates from any stream like Humanities, Science, Commerce or Arts can also apply

  • There are no requirements for minimum marks and additional qualifications.

How to Apply for SOF ICO 2022-2023?

The participating school shall receive the application forms for the SOF International commerce olympiad. The conducting authorities will accept no individual registration. Here are the details:

  • Students should register through their respective schools. 

  • To get their students registered, the schools must contact the SOF by email 

  • As a response, SOF will send the prospectus and registration forms to the schools.

  • Students are required to enter their complete educational & personal details.

  • Then, the registration forms will be forwarded to the SOF office before the last date.

  • The application fee is also required to be paid with the registration forms.

International Commerce Olympiad Syllabus

The ICO exam is conducted for the students of Classes 11 & 12th. The SOF ICO syllabus 2022 is given below. Check the sections & topics from each section of the subject and prepare accordingly.

SOF ICO Class 11 Syllabus


Syllabus of the Section


  • Introduction to MicroEconomics

  • Statistics for Economics

Business Studies

  • Forms of Business Organisation

  • Emerging Modes of Business

  • Nature and Purpose of Business

  • Business Services

  • Internal Trade

  • International Business


  • Introduction to Accounting

  • Recording of Business Transactions

  • Preparation of Bank Reconciliation Statement

  • Deprecation, Provision, and Reserves

Achievers Section

High-order thinking skills questions based on Economics, Accountancy and Business Studies

SOF ICO Class 12 Syllabus


Syllabus of the Section


  • Introduction to Macroeconomics

  • Indian Economic Development

Business Studies

  • Business Environment

  • Nature and Significance of Management

  • Planning, Organising, Staffing, Directing, Controlling

  • Marketing Management


  • Accounting for Partnership Firms

  • Analysis of Financial Statements

  • Financial Statements of Non-Profit Organizations

Achievers Section

High-order thinking skills questions based on Economics, Accountancy and Business studies sections

The syllabus of the SOF ICO covers the topics from the combination of the academic curriculum of CBSE, ICSE, and State Boards of the various states. SOF emphasises inculcating concept-based learning with a practical approach to help students memorise their studies for longer.

SOF ICO 2022-2023 Exam Pattern

SOF ICO is a single-level examination. Thereby, students who are appearing for the exam must have a clear understanding of the syllabus as well as the exam pattern. Check the details below:

  • Students must answer Objective (Multiple choice questions).

  • The exam duration will be 60 minutes.

  • The questions will be in English only

  • There will be 50 questions and separate question papers for Class 11th & 12th.

  • The exam will be held during school hours only

  • SOF International commerce olympiad syllabus is based on CBSE, ICSE/ISC, and State Board curriculum

The question paper consists of four sections:

  • Section 1 - Economics

  • Section 2 - Business Studies

  • Section 3 - Accountancy

  • Section 4 - Achievers Section

Here is the section-wise pattern of the ICO exam. Take a look:


No. of Questions 

Marks Per Questions 

Total Marks





Business Studies








Achievers Section







International Commerce Olympiad Answer Key

SOF will release the SOF ICO answer key 2022 on the official website after the commencement of the exam to help students get access to the correct answers of the questions asked in the exam. The participants can visit and download the answer key in PDF format. 

This will help students to calculate their probable scores by matching the answers with the ICO answer keys.

How To Download ICO Answer Key 2022?

Students are advised to follow these steps to download the answer key ICO 2022:

  • Visit the official website

  • Click on the “Answer keys & Cut Off 2022”

  • Go to “SOF ICO Answer Keys 2022-23”

  • Click on the respective set & download the ICO answer key.

International Commerce Olympiad Results

The conducting body of ICO 2022 ie. SOF will release the results of the exam on its official website. Students can go online and check the SOF ICO result 2022 from the official website. Enter the roll number & required details to access the results. 

Tips to Crack ICO Examination

SOF ICO is an international-level competition exam. To nail the exam, every participant should follow a set pattern of study, regular revision & a few tricks we share here. Take a look:

  • Read & solve questions in the commerce examination, including Accounting problems, Formulas, and Business Studies laws

  • Practice daily to grasp mathematical calculation skills & efficient time management.

  • The laws, statements, and procedures in all the subjects must be thoroughly read.

  • Solve the questions from the achievers' section from reference books. 

  • Also, solve previous year's Olympiad papers to know the exam pattern, & type of questions.

Wrapping Up

The International Commerce Olympiad (ICO) is an Olympiad exam conducted on an international level. Candidates from Classes 11 and 12 can participate in the ICO Exam. Science Olympiad Foundation (SOF), in collaboration with the Institute of Company Secretaries Of India, conducts the exam annually. This foundation conducts various other olympiads in the fields like Cyber security, Science, Mathematics, English, General Knowledge etc. So, prepare a study plan now & stick to the timetable to shine in the exam. All The Best!!

FAQs on SOF ICO (International Commerce Olympiad) - Syllabus, Exam Date and Results

1. What are the reference books to prepare for the SOF ICO 2023?

Generally, students are advised to follow the NCERT books applicable for ICSE/CBSE and State Boards. Apart from this, students can also check the sample papers available on the official website of SOF.

2. How many times is the SOF ICO exam conducted in a year?

The SOF International Commerce Olympiad is conducted once a year.

3. When are the results of the olympiad declared?

Results of Olympiads are declared within 8 weeks of the last examination date. The results are published on the official website and sent to concerned schools. 

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