Welcome to your International Navodaya Chamber of Commerce (INCOC) Platform ! Subject: Corporate and Economic Laws Total Number of Question: 40 Time: 41 Minutes All the best... Kind Regards CMA Madhuri Kashyap Profile: Click Here! Name Phone No Email Area Pin Code 1. Which of the following committees is mandatory for listed companies under SEBI regulations? Ethics Committee Corporate Social Responsibility (CSR) Committee Audit Committee Management Committee None 2. The minimum number of independent directors required in a listed company is: 1/3rd of the total Board 1/2 of the total Board 1/4th of the total Board No requirement None 3. Which section of the Companies Act, 2013 deals with the appointment and qualification of directors? Section 140 Section 149 Section 170 Section 180 None 4. A woman director is mandatory in a listed company and in public companies having: Paid-up capital of ₹100 crore or more Turnover of ₹300 crore or more Net worth of ₹500 crore or more Any of the above None 5. A director who fails to attend Board Meetings for ___ months continuously is deemed to have vacated office: 3 months 6 months 9 months 12 months None 6. A person is disqualified from being appointed as a director if he is convicted of an offense involving moral turpitude and sentenced for a period of: 2 years or more 3 years or more 5 years or more 6 months or more None 7. Which of the following is NOT a function of an Independent Director? Protecting the interests of minority shareholders Participating in the day-to-day management of the company Ensuring corporate governance compliance Providing an independent judgment on strategy and risk management None 8. A company can remove a director before the expiry of his term by passing a: Special Resolution Board Resolution Ordinary Resolution None of the above None 9. In case of resignation, a director must inform the company within: 7 days 15 days 30 days 60 days None 10. The maximum tenure for an independent director in one company is: 3 years 5 years 10 years 20 years None 11. Which of the following is NOT an anti-competitive practice under the Competition Act? Predatory pricing Cartel formation Merger between two companies Abuse of dominant position None 12. The Competition Commission of India (CCI) was established in: 1999 2002 2009 2011 None 13. Which section of the Competition Act, 2002 deals with abuse of dominant position? Section 3 Section 4 Section 5 Section 6 None 14. The penalty for engaging in anti-competitive agreements can be up to: 10% of the company’s net worth 10% of the company’s turnover ₹10 crore ₹100 crore None 15. Which of the following authorities approves combinations under the Competition Act? SEBI RBI CCI NCLT None 16. Under the Consumer Protection Act, who is defined as a 'consumer'? A person buying goods for resale A person availing services for commercial use A person buying goods or services for personal use A business entity None 17. Which of the following is NOT a type of consumer dispute redressal forum? District Consumer Disputes Redressal Commission State Consumer Disputes Redressal Commission National Consumer Disputes Redressal Commission Securities Appellate Tribunal None 18. The jurisdiction of the District Consumer Forum is for cases involving amounts up to: ₹10 lakh ₹50 lakh ₹1 crore ₹5 crore None 19. The cooling-off period for returning e-commerce goods under the Consumer Protection Act is: 7 days 14 days 30 days No fixed period None 20. Which of the following remedies is NOT available under the Consumer Protection Act? Compensation for defective goods Punishment for the seller Replacement of goods Refund of money None 21. The Environmental Protection Act, 1986 was enacted in response to: The Bhopal Gas Tragedy The Chernobyl Disaster The Kyoto Protocol The Stockholm Conference None 22. Which of the following is NOT covered under environmental law? Water pollution Air pollution Insider trading Waste management None 23. Which organization is responsible for enforcing environmental laws in India? SEBI RBI Central Pollution Control Board (CPCB) NITI Aayog None 24. Which of the following industries require Environmental Clearance (EC) before setting up? IT Industry Mining Industry Retail Industry Tourism Industry None 25. Under the Environmental Protection Act, which of the following is a punishable offense? Discharging pollutants beyond permissible limits Filing a consumer complaint Investing in the stock market Selling consumer goods at a discount None 26. Which of the following is NOT a mode of winding up of a company? Voluntary winding up Compulsory winding up by NCLT Strike off by ROC Conversion into an LLP None 27. The liquidator appointed in case of voluntary winding up is called: Official Liquidator Provisional Liquidator Company Liquidator Interim Liquidator None 28. Which form is used to file the resolution for voluntary winding up of a company with ROC? MGT-7 INC-28 MGT-14 STK-2 None 29. Who has the first right to claim payment from the proceeds of a liquidated company? Unsecured creditors Secured creditors Shareholders Employees (salaries and wages) None 30. A ‘promissory note’ must contain: An unconditional promise to pay A conditional promise to pay A promise to pay with a guarantee None of the above None 31. A cheque remains valid for how many months from the date of issue? 1 month 3 month 6 month 12 month None 32. The penalty for dishonor of a cheque under Section 138 of the Negotiable Instruments Act may include: Imprisonment up to 2 years or fine up to twice the cheque amount Imprisonment up to 1 year or fine up to the cheque amount Imprisonment up to 6 months or fine up to ₹10,000 No penalty None 33. The Prevention of Corruption Act, 1988 primarily applies to: Private sector employees Public servants Non-resident Indians All business entities None 34. Which of the following is NOT considered an offense under the Prevention of Corruption Act? Taking a bribe Giving a bribe Reporting a bribe Abetment of bribery None 35. Which section of the IT Act deals with punishment for cyber terrorism? Section 43 Section 66F Section 72A Section 85 None 36. Which of the following is NOT a cybercrime under the IT Act, 2000? Hacking Identity theft Data theft Copyright violation None 37. The minimum number of employees required for the applicability of the Employees' Provident Fund (EPF) Act is: 5 10 20 50 None 38. Under the Payment of Bonus Act, 1965, the minimum bonus payable is: 5% of the salary 8.33% of the salary 10% of the salary 12% of the salary None 39. The Industrial Disputes Act, 1947 applies to industrial establishments with at least: 10 workers 20 workers 50 workers 100 workers None 40. The Maternity Benefit Act, 1961 provides paid maternity leave for how many weeks? 12 weeks 8 weeks 26 weeks 30 weeks None 1 out of 4 Great job on taking the INCOC Test! We appreciate your interest in test. Look out for results and future opportunities. Stay Connected !! Your quiz time is about to finish. Few seconds left. 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