Welcome to your International Navodaya Chamber of Commerce (INCOC) Platform ! Subject: Corporate and Economic Laws Total Number of Question: 40 Time: 41 Minutes Please check your email after completion of test for result. All the best... Name Phone No Email Area Pin Code 1. Which of the following companies is NOT required to prepare a Cash Flow Statement? Listed public company Small company Private company with turnover above ₹50 crore Public company with net worth above ₹100 crore None 2. The statutory auditors of a company are appointed under which section of the Companies Act, 2013? Section 139 Section 148 Section 129 Section 166 None 3. Which committee is responsible for recommending corporate governance measures? Narasimham Committee Kotak Committee Basel Committee Satyam Committee None 4. Under the Companies Act, 2013, a listed company must have at least: 3 independent directors 2 independent directors 5 independent directors None 5. The tenure of an independent director is limited to a maximum of: 2 terms of 5 years each 3 terms of 5 years each 1 terms of 15 year 2 terms of 3 years each None 6. Which of the following requires approval via a Special Resolution? Appointment of statutory auditor Change in company name Declaration of interim dividend Board resolution for issuing debentures None 7. The quorum for a Board Meeting of a listed company is: 1/2 of total directors 1/3 of total directors or 2, whichever is higher 1/4 of total directors 2 members irrespective of the number of directors None 8. A company’s annual return must be signed by: Only the Company Secretary A Director and the Company Secretary Only the Managing Director Only an Independent Director None 9. Which of the following is NOT a feature of a One Person Company (OPC)? Only one shareholder No requirement for an Annual General Meeting No need to file financial statements Limited liability None 10. Which of the following is true regarding Buyback of Shares? It increases the number of outstanding shares It is allowed only for private companies It reduces the company’s paid-up capital It requires approval from the Competition Commission of India None 11. Under SEBI regulations, a company making an IPO must have net tangible assets of at least: ₹1 crore ₹3 crore ₹5 crore ₹10 crore None 12. Which of the following statements is true regarding insider trading? It is legal if done by promoters It is regulated under SEBI (Prohibition of Insider Trading) Regulations It is only applicable to public sector companies It is allowed if approved by shareholders None 13. The primary market is a market for: Buying and selling existing securities Issuing new securities Trading foreign exchange Commodity trading None 14. A company can raise funds from the public through: Private Placement Initial Public Offering (IPO) Rights Issue Both b and c None 15. SEBI’s main function is to regulate: Mutual Funds Stock Market Corporate Governance All of the above None 16. The Foreign Exchange Management Act (FEMA), 1999 replaced: SEBI Act, 1992 FERA, 1973 Banking Regulation Act, 1949 RBI Act, 1934 None 17. Under the Consumer Protection Act, 2019, a consumer complaint can be filed for: Defective goods Deficiency in services Unfair trade practices All of the above None 18. Which authority resolves competition disputes in India? SEBI Competition Commission of India (CCI) IRDAI RBI None 19. The maximum penalty for misleading advertisements under the Consumer Protection Act, 2019 is: ₹10 lakh ₹50 lakh ₹1 crore ₹2 crore None 20. Under the IBC, the minimum default amount for initiating CIRP is: ₹10 lakh ₹50 lakh ₹1 crore ₹2 crore None 21. The liquidator under IBC is appointed by: The Board of Directors The Committee of Creditors The MCA SEBI None 22. Which body hears appeals against CCI orders? National Consumer Disputes Redressal Commission National Company Law Appellate Tribunal (NCLAT) Securities Appellate Tribunal (SAT) RBI None 23. The primary objective of the Prevention of Money Laundering Act, 2002 is to: Regulate banking activities Prevent corruption in the stock market Combat money laundering and illegal transactions Promote foreign investment None 24. What is the full form of SARFAESI Act? Securities and Asset Reconstruction Fund Act Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act Stock and Reserve Financial Enforcement Act None of the above None 25. Which agency enforces the Prevention of Money Laundering Act? SEBI Enforcement Directorate (ED) CCI RBI None 26. Which document governs the internal management of a company? Memorandum of Association Articles of Association Prospectus Shareholders’ Agreement None 27. Which type of resolution is required to change the registered office of a company from one state to another? Ordinary Resolution Special Resolution Board Resolution Unanimous Resolution None 28. The maximum number of directors in a private company is: 10 12 15 Unlimited (subject to provisions) None 29. Which section of the Companies Act, 2013 deals with the powers of the Board of Directors? Section 149 Section 179 Section 133 Section 186 None 30. Which of the following is NOT an essential requirement for a valid contract under the Indian Contract Act, 1872? Offer and acceptance Lawful consideration Written agreement Competent parties None 31. Under FEMA, the term ‘Person Resident in India’ refers to a person who has stayed in India for at least: 120 days 180 days 240 days 365 days None 32. Which authority governs foreign direct investment (FDI) policy in India? RBI SEBI Department for Promotion of Industry and Internal Trade (DPIIT) Ministry of Finance None 33. Which of the following is NOT covered under the Consumer Protection Act, 2019? Goods Services Commercial contracts E-commerce transactions None 34. The Competition Act, 2002 prohibits: Insider trading Anti-competitive agreements Banking frauds Forex manipulation None 35. Who is responsible for approving a Corporate Resolution Plan under the Insolvency and Bankruptcy Code (IBC)? RBI SEBI Committee of Creditors (CoC) NCLT None 36. Which of the following is NOT a function of SEBI? Regulating the stock market Protecting investor interests Issuing currency notes Preventing insider trading None 37. A mutual fund is regulated under: SEBI Act, 1992 RBI Act, 1934 Companies Act, 2013 FEMA, 1999 None 38. A merchant banker is primarily involved in: Issuing loans Managing IPOs Regulating stock exchanges Providing insurance None 39. Which of the following is considered a financial derivative? Equity Share Bond Futures Contract Commercial Paper None 40. Which financial instrument has a fixed maturity and is issued by corporations for short-term financing? Debenture Commercial Paper Preference Share Mutual Fund Unit 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. 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!
