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ICO Commerce Olympiad 2022-2023

VSAT 2023

ICO 2022-23 - Exam Dates, Eligibility and Syllabus

Last updated date: 28th Jan 2023
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The Science Olympiad Foundation (SOF) and the Institute of Company Secretaries of India jointly sponsor the International Commerce Olympiad (ICO), which is a single-level test. SOF began testing its initial coin offering (ICO) in 2016. Only students in grades 11 and 12 are eligible to participate in ICO. Students from all academic areas are welcome to compete in the International Commerce Olympiad (ICO). By letting students demonstrate their abilities, strengths, memories, and knowledge, ICO makes learning entertaining and engaging for them.

ICO Olympiad 2022-2023 - Important Dates

The Science Olympiad Foundation has declared the exam dates and a tentative period for the results. Find below an overview of the same.


Exam Date

Result Date

Date 1

22nd December 2022

The results will be declared within 8 weeks of the last date of examination. 

Date 2

24th January 2023


ICO Olympiad 2022-2023 - Eligibility

There is no stringent criteria of eligibility to appear in the ICO Olympiad. Since Commerce is an advanced subject, only students of class 11 and 12 can sit for this exam. Students from all streams are eligible to take this exam.


ICO Olympiad 2022-2023 - Registration


Students of class 11 and 12 can register for the ICO Olympiad 2022-2023 easily through their school. Their school must be registered with the Science Olympiad Foundation for the same.


These schools receive registration forms that students must submit along with a nominal fee of INR 125. The schools return these filled forms with the registration fee to the SOF to confirm the registration of the students. 


ICO Olympiad Syllabus for 2022-2023 

The syllabus of the International Commerce Olympiad has been released by the Science Olympiad Foundation. Students must go through the same to get an idea of the extent of the learning required to sit for the exam. Having an idea of the syllabus will also help them time themselves for preparing. Find below an overview of the same.

Class

Section

Topics

11

1

Introductory Microeconomics, Statistics for Economics.

2

Nature and Purpose of Business, Forms of Business Organisations, Public, Private and Global Enterprises, Business Services, Emerging Modes of Business, Social Responsibility of Business and Business Ethics, Sources of Business Finance, Small Business, Internal Trade, International Business.

3

Theoretical Framework, Accounting Process, Financial Statements of Sole Proprietorship from Complete and Incomplete Records, Computers in Accounting.

4

Higher Order Thinking Questions - Syllabus as per Section-1, Section-2 and Section-3.

 

Class

Section

Topics

12

1

Introductory Macroeconomics, Indian Economic Development.

2

Nature and Significance of Management, Principles of Management, Business Environment, Planning, Organising, Staffing, Directing, Controlling, Financial Management, Financial Markets, Marketing Management, Consumer Protection.

3

Financial Statements of Not-for-Profit Organisations, Accounting for Partnership Firms, Accounting for Companies, Analysis of Financial Statements, Cash Flow Statement, Computerised Accounting.

4

Higher Order Thinking Questions - Syllabus as per Section-1, Section-2 and Section-3.

 

ICO Olympiad - Examination Pattern and Marking Scheme

An awareness of the examination pattern and marking scheme is necessary for the students to get an idea of what to expect from the examination. Find below details of the examination pattern and marking scheme of the ICO Olympiad. 

Class

Section

No. of Questions

Marks/Question

Total Marks

11th and 12th

Economics

15

1

15

Business Studies

15

1

15

Accountancy

15

1

15

Achievers Section

5

3

15

 

Grand Total

50

 

60

 

International Commerce Olympiad - Preparation tips

1. Understand the Trouble Level of Indian Talent Olympiad Tests: 

The trouble and intricacy level of inquiries will be differing, it relies upon the class. For each class tests and question papers are ready by understanding their insight, capacity, thinking limit. There will be a trial of ideas and essential things of every understudy through each Indian Talent Olympiad assessment. The inquiry paper will likewise incorporate intelligent thinking and critical thinking questions which won't be in the immediate inquiry understudies logical and thinking abilities will be tried through these inquiries.


2. Know the Applicable Olympiad Books: 

Understudies need to get ready from their course books recommended by their separate educational committees (ICSE/CBSE/State sheets). What's more, understudies can allude to and request the Indian Talent Olympiads exercise manual, Olympiad study application presented from the Indian Talent Olympiad, Previous year question papers, and test papers for each Olympiad assessment. Indian Talent Olympiad likewise gives thinking books to each class, with the goal that understudies can set up the thinking and sensible area.


3. Practice Olympiad Test Papers: 

Understudies can benefit from earlier year question papers and test papers from the Indian Talent Olympiads site. Tackling test papers and earlier year question papers will give a reasonable thought regarding the trouble level and example of inquiry papers.

 

Conclusion

Olympiads are extremely beneficial. These Olympiads, which are held for children in grades 1 through 12, assess a student's aptitude as well as their understanding of a particular subject. And, there are no disadvantages to taking an Olympiad exam. Olympiads are nothing more than stepping stones to success and another challenge in a student's career.

FAQs on ICO Commerce Olympiad 2022-2023

1. What are the tips to prepare for the ICO Examinations?

Ans: Every student prepares for their examination in their way but preparing wisely will save you a lot of time and effort. So here are a few tips you can follow:

  • Practice as much as possible: It is key to score good marks. Your 70% of the effort should be spent in practising. You can use a question bank. 

  • All India level Mock test: Once you are confident enough with your preparation, take a mock test to improve your efficiency at attempting questions.

  • Clear your doubts. Never ignore a question that you cannot understand, instead of doing a group study or discussing it with someone you think can help you. 

  • Look for the best sources. 

  • Revision. It is a must. We may think that what we’ve learned will be in our heads without revising. Then we are wrong. We should always revise.

2. Is Olympiad exam free of cost?

Ans. No, students have to submit a nominal fee of INR 125 along with the filled in registration form to register for the ICO Olympiad. 

3. How are the ICO Tests conducted in schools?

Ans: The ICO tests are conducted by the SOF in the respective schools from which the participants have enrolled. It will be a written test conducted within the normal working hours of the school. OMR sheets will be provided for the students to answer the objective-type questions. The main advantage of this test is that there is no negative marking. So, the students can take a step ahead and attempt to answer all the questions without any fear of losing marks.

4. What is ICO in  Olympiad?

Ans. ICO in  Olympiad stands for International Commerce Olympiad. It is held to nurture and boost in the students an interest for the commercial studies.

5. Can I also take part in other Olympiad as well along with the SOF ICO 2022-23?

Ans. Yes. However, your participation in other Olympiad exams depends on you meeting the eligibility criteria for them.

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