Exit criteria comes into picture, when 
1. Maximum test cases are executed with certain pass 
percentage.
2.bug rate falls below certain level.
3. when achevied the deadlines.

Hi,

1. When we feel that we met client requirements
2. When all the test cases passed with 90%
3. When the application is bug free
4. When budget ends
5. When achieved the deadlines.

Plz correct me If I am wrong...

Exit Criteria for Testing depends on following:

1. When there is no time and budjet
2. When maximum number of test cases are executed
3. All the Requirements are mapped that is RTM is filled 
completely
4. When Test coverage is > 80%
5. when bug rate falls below certain level

and exit criteria(documents) are:
1. test cases
2. test case design specifications
3. test plan
4. test logs
5. test summary reports
6. and finally a bug free product

Exit criteria for V-model is Quality product

The Exit Criteria for testing is when

1. All Modules are tested.
2.All types of tests applied.
3.All major Bugs are resolved.

The Exit Criteria for testing is

1. When all the test cases are executed
2. When User acceptance testing is complete
3. Hardware and software are not available at the time
indicated in the test schedule or project schedule
4. When Source code contain one or more critical defect that
limits the testing process.
5. When testing budget is complete
6. According to the test schedule
7 When release factor is near or when deadline is reached

All modules in build covered.
test duration exceeded.
all major defects solved.

There is no exit criteria for testing when it comes to the
exploratory testing case.

If it is scripted testing then we can exit once it satisfies
the 90% of test cases.

Exit Criteria of testing is successfull completion of test 
case execution

1. Thoroughness measures, such as coverage of code,  
functionality or risk.
2. Estimates of defect density or reliability measures.
3. Cost
4. Residual risks, such as defects not fixed or lack of 
test coverage in certain areas.
5. Schedules such as those based on time to market

Exit criteria for testing 

1.Bug rate should fall below a certain level
2.All high Priority and high severity issues should be 
resolved and it should be working fine.
3.Testing should be  completed
4.satisfies customer expectations