I don't see anything about a limit in their Terms:
Quote:
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Terms and Conditions: Audible’s “Great Listen Guarantee” is a beta program available to certain members in good standing. Any member who is not fully satisfied with his or her listening experience may return such book for a full refund within 365 days of purchase. Free books are not eligible for this program. Books purchased with credits will be refunded with credits. Books purchased with money will be refunded with money. Books purchased using a combination of money and a coupon or promotional code will be refunded with money and a reactivation of the coupon or promotional code used. Audible reserves the right in its sole discretion to limit the number of refunds allowed by each member, including, but not limited to, in cases where Audible suspects abuse of the program. Audible may change these terms and conditions or may cancel the program with respect to any or all participants at any time. Void where prohibited.
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