Welcome to your International Navodaya Chamber of Commerce (INCOC) Platform ! Subject: Corporate and Other LawsTotal Number of Question: 40Time: 41 MinutesPlease check your email after completion of test for result.All the best... Name Phone No Email State 1. What is the minimum paid-up share capital for a private company as per the Companies Act, 2013? ₹1,00,000 ₹5,00,000 No minimum requirement ₹50,000 None 2. Which of the following is not a type of prospectus under the Companies Act, 2013? Shelf prospectus Red herring prospectus Deemed prospectus General prospectus None 3. The maximum number of members in a private company is: 100 200 250 Unlimited None 4. A company secretary's primary responsibility does not include: Preparing meeting agendas Managing day-to-day company operations Filing statutory returns Advising on corporate governance None 5. How many minimum directors are required for a public company? 1 2 3 7 None 6. What is the minimum notice period required for calling a general meeting? 7 days 21 clear days 14 days 30 days None 7. Which resolution requires a 3/4th majority to pass in a general meeting? Special resolution Ordinary resolution Unanimous resolution Board resolutio None 8. What is the quorum requirement for a general meeting of a private company? 2 members 5 members 3 members No quorum required None 9. The chairperson of a general meeting is primarily responsible for: Recording minutes Managing voting Filing annual returns Ensuring all directors attend None 10. E-voting is applicable to companies having a minimum of: 100 members 500 members 1000 members No member requirement None 11. A contract entered with a minor is: Valid Void ab initio Voidable Enforceable if ratified None 12. The essential element of consideration does not include: Adequacy Legality Past consideration Consensus and idem None 13. A contract can be discharged by: Novation Fraud Coercion Misrepresentation None 14. In a quasi-contract, the obligation is: Imposed by law Voluntary Based on mutual consent Always written None 15. An agreement in restraint of marriage is: Void Voidable Valid Illegal None 16. In a CIF contract, the seller must: Provide free delivery Bear the risk until goods are delivered Deliver the goods without documentation Provide cost, insurance, and freight documents None 17. The unpaid seller’s right of lien is lost when: Goods are sold on credit Goods are delivered to a carrier Payment is delayed Goods are returned None 18. In a contract of sale, goods must be: Tangible only Either existing or future goods Only existing goods Only future goods None 19. A condition is a stipulation: Essential to the main purpose of the contract Non-essential but relevant That can be waived That arises only after breach None 20. Implied conditions in a sale contract do not include: Fitness for purpose Merchantability Rightful ownership Advertising None 21. A cheque is valid for: 3 months from the date of issue 6 months from the date of issue 12 months from the date of issue No specific time limit None 22. Who cannot cross a cheque? Drawer Holder Banker Endorsee None 23. Dishonor of a cheque due to insufficient funds is punishable under: Section 138 Section 139 Section 140 Section 141 None 24. A promissory note must: Be payable on demand Include interest Be in writing Be notarized None 25. A negotiable instrument may not be transferred by: Delivery Assignment Endorsement Negotiation None 26. Interim dividend can be declared: Only once a year Multiple times before the closure of the financial year Only after the financial year ends Only in a general meeting None 27. The books of accounts of a company must be preserved for a minimum period of: 5 years 8 years 10 years Indefinitely None 28. A company is required to appoint its first auditor within: 30 days of incorporation 60 days of incorporation 90 days of incorporation 120 days of incorporation None 29. Dividend can be paid out of: Current profits only Reserves only Both current profits and free reserves Borrowed funds None 30. Which of the following is not a statutory audit under the Companies Act, 2013? Internal audit Cost audit Secretarial audit Tax audit None 31. The maximum number of directorships a person can hold in public companies is: 10 15 20 No limit None 32. An independent director must hold office for a minimum term of: 2 years 3 years 5 years 6 years None 33. The term "Key Managerial Personnel" (KMP) does not include: Chief Executive Officer Chief Financial Officer Manager Auditor None 34. Which of the following companies is mandatorily required to appoint a woman director? A listed company A company with paid-up capital exceeding ₹10 crores A company with turnover exceeding ₹300 crores All private companies None 35. Small shareholders' director can be appointed in: Any public company Any private company A listed company upon request of 1,000 shareholders Only at the discretion of the board None 36. The minimum number of designated partners required in an LLP is: 1 2 5 No minimum limit None 37. Which of the following is not a feature of an LLP? Perpetual succession Unlimited liability Separate legal entity Limited liability for partners None 38. An LLP must file its annual return with the Registrar of Companies within: 30 days of the end of the financial year 60 days of the end of the financial year 90 days of the end of the financial year 120 days of the end of the financial year None 39. Conversion of a private company into an LLP requires: Approval of 2/3rd of shareholders Approval from NCLT Approval of all shareholders Approval of the Registrar of Companies None 40. FEMA regulates: Foreign direct investment (FDI) only External commercial borrowings (ECB) only Both FDI and ECB Domestic investments 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. 1 2 3 4 Time's upYou cannot switch tabs while taking this quiz!You are not allowed to switch tabs violation has been recorded.you cannot minimize full screen mode!You are not allowed to minimize full screen while taking this quiz, violation has been recorded.Access denied! To begin the quiz, please grant this quiz access to your camera.Time is Up!Time is Up!
