IOB LBO exam-day guide
IOB LBO · Prepare for the day ahead.
Your checklist
Government-issued photo ID
Bring the original, unexpired ID in the name you registered with. Confirm with the provider which ID types are accepted and whether a second form is required - do not assume a photocopy or digital copy will be accepted.
Admission confirmation / appointment details
Print or save offline the confirmation email showing your test date, time, location or remote-proctoring link, and any candidate ID number. Confirm with the provider how far in advance to arrive and what to do if the confirmation never arrived.
Approved calculator
Confirm with the provider which calculator models are permitted and whether an on-screen calculator is supplied for computer-based delivery. If a physical calculator is allowed, bring a model you have already used for practice and check its batteries.
Writing materials
Pens or pencils and scratch paper may or may not be provided. Confirm with the provider what you may bring into the room; for remote testing, check whether blank paper and a pen are allowed and whether you must show them to the proctor.
Remote-testing environment and equipment
If testing online, confirm with the provider the platform, browser, webcam and microphone requirements, and run the system check at least 24 hours ahead. Have a quiet, well-lit room, a stable connection, and a backup power or network option if possible.
Permitted reference material
Assume the exam is closed-book unless the provider's candidate handbook says otherwise. Confirm with the provider whether any formula sheet, glossary, or statutory extract is supplied on screen.
Timing and section plan
Know the total number of questions, the time limit, and whether sections are separately timed. Write down your per-question pace and the checkpoint times at which you should have finished 25, 50, and 75 percent of the questions.
Personal essentials
Water, a light snack for before or after the session, and any medication you may need. Confirm with the provider whether food and drink are allowed at the desk; many test centres do not permit them in the testing room.
Travel and arrival plan
For a test centre, plan to arrive with buffer time for transport and security checks. Confirm with the provider the arrival window and the policy for late arrivals, since candidates arriving after a cut-off may be refused entry.
Review your weak-topic sheet
Bring a one-page summary of the LBO mechanics you most often get wrong - for example sources-and-uses balancing, circularity between interest and cash flow, or exit multiple versus entry multiple - and read it in the final hour rather than learning anything new.
Provider contact details
Save the provider's support phone number and email offline so you can report a technical failure or a scheduling problem quickly. Confirm with the provider the procedure and deadline for reporting a disruption on test day.
Post-exam logistics
Confirm with the provider how and when results are released and whether a score report is issued on screen, by email, or by post. Note any deadline for appeals or rescheduling before you leave.
Plan the day
Stop collecting new material. Re-read the syllabus or content outline and mark each topic as confident, shaky, or unknown. Spend the remaining time only on shaky topics, using short timed question sets rather than full re-reading. Rebuild your LBO model template from memory once: transaction assumptions, sources and uses, pro forma capitalization, projected income statement, free cash flow, debt schedule with mandatory and optional repayment, and exit returns.
Do one full timed mock under exam conditions, including the same calculator, screen, and time of day. Afterwards, classify every error as knowledge, method, or careless. Knowledge errors get a short note; method errors get a written procedure you will follow on test day; careless errors get a checklist item.
Confirm logistics: test centre address and travel route, or remote-testing system check, plus the ID you will present. Re-read the provider's candidate handbook for rules on calculators, breaks, and prohibited items, and contact the provider with any unresolved question now rather than on the morning of the exam.
Do a light review only: your weak-topic sheet, key formulas, and the mechanics you have repeatedly missed. Do not start a new topic or a new mock. Pack your bag or set up your desk with ID, confirmation, calculator, and writing materials, and lay out clothing for the morning.
Check the provider's website or email once for any change to the appointment, and confirm the start time in the correct time zone. Set two alarms. Eat a normal meal, avoid heavy caffeine in the evening, and aim for a full night's sleep - fatigue costs more marks than one forgotten formula.
Eat a normal breakfast, avoid unfamiliar food or excessive caffeine, and leave earlier than you think necessary. Read your one-page weak-topic sheet once, then put it away. Do not discuss topics with other candidates at the centre, since last-minute confusion rarely helps.
For remote delivery, start the platform check early, close other applications, silence your phone and put it out of reach, and have your ID ready for the proctor check. Tell anyone in the household that you must not be disturbed.
Read the instructions and note the time limit, number of questions, and whether sections are separately timed. Write your checkpoint times on scratch paper. Take a few slow breaths and begin with a question you can answer confidently to settle in.
Work in passes. First pass: answer everything you can do quickly and flag the rest. Second pass: work the flagged questions with remaining time. Never leave a blank if there is no penalty for guessing - confirm with the provider whether wrong answers are penalized.
For calculation questions, write the formula before substituting numbers, keep units consistent, and sanity-check the result - for example, an IRR must exceed the exit multiple's implied return, and sources must equal uses. If a number looks impossible, re-read the question for a missed assumption.
Watch the clock at each checkpoint. If you fall behind, reduce time per question rather than skipping a whole section. If a technical failure occurs, stop and contact the proctor immediately and note the time, since reporting deadlines may apply.
Use the last few minutes to confirm no question is blank, that flagged questions have a recorded answer, and that your answers saved. Then close out according to the proctor's instructions and note anything you want to review if a retake is needed.
Rules to check
Bring the original, unexpired photo ID in the name used at registration. Confirm with the provider which documents are accepted and what happens if your name differs slightly from your registration record.
Assume personal items such as phones, notes, and smart watches are prohibited in the testing room. Confirm with the provider where they must be stored and whether a locker is available.
Confirm with the provider whether breaks are scheduled, whether they count against your time, and what identification or sign-out procedure applies when leaving and re-entering the room.
Confirm with the provider whether the exam is scored with a penalty for incorrect answers. If there is no penalty, answer every question; if there is, leave a question blank only when you truly cannot eliminate any option.
Do not communicate with other candidates during the test, and do not copy, photograph, or reconstruct exam questions afterwards. Content is confidential and misconduct can lead to score cancellation.
If you experience a technical failure, illness, or other disruption, notify the proctor or provider immediately and follow their reporting procedure; late reports may not be accepted.
Confirm with the provider the rules on rescheduling, cancellation, and refunds, and note the deadlines before test day so a problem does not become a forfeited fee.
Read the score report guidance in advance: confirm with the provider the passing standard, how results are reported, and the process for appeals or retakes.