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 is NOT a characteristic of a company? Perpetual succession Unlimited liability Separate legal entity Transferability of shares None 2. What is the minimum number of members required to form a private company? 1 2 3 5 None 3. The primary objective of Corporate Social Responsibility (CSR) is to: Maximize profits Promote social and environmental sustainability Reduce government taxes Increase shareholder dividends None 4. Which of the following companies is NOT required to appoint an independent director? Listed company Public company with paid-up share capital of ₹10 crore or more Private company with paid-up share capital of ₹50 crore Public company with turnover of ₹100 crore or more None 5. Who has the power to remove a company’s auditor before the completion of their term? Board of Directors Shareholders by passing a special resolution SEBI Registrar of Companies None 6. The doctrine of indoor management protects: The company against outsiders Outsiders dealing with the company The government The company's directors None 7. A company can be wound up due to its inability to pay debts when the unpaid amount exceeds: ₹1 lakh ₹10 lakh ₹25 lakh ₹1 crore None 8. Which of the following is NOT a ground for compulsory winding up of a company by NCLT? The company is unable to pay its debts The company has not filed financial statements for five consecutive years The company has failed to conduct a board meeting for one year The company's business is carried out in a fraudulent manner None 9. A company’s Board of Directors must hold at least how many meetings in a calendar year? 2 3 4 5 None 10. Which of the following cannot be issued at a discount? Shares Debentures Bonds Preference Shares None 11. The primary role of SEBI is to regulate: Mutual Funds Insurance Companies Banking Operations Foreign Direct Investment None 12. Which of the following securities is considered a derivative? Shares Mutual Funds Futures Contracts Fixed Deposits None 13. An IPO must be listed on stock exchanges within how many days of closure? 3 days 6 days 10 days 15 days None 14. Which entity is responsible for depository services in India? SEBI RBI NSDL and CDSL NCLT None 15. Which document is issued to the public before an IPO? Share Certificate Offer Letter Prospectus Articles of Association None 16. Which of the following transactions does NOT require SEBI approval? IPO launch Insider trading investigation Foreign exchange transactions Takeover of a listed company None 17. Under SEBI regulations, a company is considered ‘listed’ when it: Registers with MCA Obtains a SEBI license Lists its shares on a recognized stock exchange Issues a public notice None 18. The Securities Appellate Tribunal (SAT) hears appeals against decisions made by: RBI SEBI IRDAI NCLT None 19. The minimum application size for a retail investor in an IPO is: ₹10,000 ₹15,000 ₹20,000 ₹25,000 None 20. Which of the following does NOT qualify as a capital market instrument? Equity Shares Debentures Treasury Bills Bonds None 21. The Competition Act, 2002 is primarily aimed at preventing: Financial frauds Money laundering Monopolistic and restrictive trade practices Banking frauds None 22. Which of the following organizations enforces FEMA regulations? SEBI RBI MCA Competition Commission of India (CCI) None 23. The purpose of the Insolvency and Bankruptcy Code (IBC) is to: Regulate stock exchanges Resolve financial distress of companies Monitor foreign exchange transactions Prevent insider trading None 24. Which of the following is NOT a function of the Enforcement Directorate (ED)? Investigating money laundering cases Regulating stock markets Enforcing FEMA laws Investigating foreign exchange violations None 25. Under the Consumer Protection Act, 2019, the Central Consumer Protection Authority (CCPA) has the power to: Issue orders for recall of unsafe goods Regulate stock market operations Approve foreign investments Impose corporate governance standards None 26. Which law deals with the legal framework for Non-Performing Assets (NPAs)? SARFAESI Act, 2002 FEMA, 1999 SEBI Act, 1992 Competition Act, 2002 None 27. The Prevention of Money Laundering Act (PMLA) is applicable to: Banks Financial institutions Intermediaries All of the above None 28. Which regulatory authority oversees economic competition in India? SEBI RBI CCI IRDAI None 29. Who can initiate proceedings under the Insolvency and Bankruptcy Code? Creditors Shareholders Government All of the above None 30. The Reserve Bank of India regulates foreign exchange transactions under: FEMA, 1999 FEMA, 1992 IBC, 2016 Companies Act, 2013 None 31. Which type of company must have at least one woman director? Every listed company Every public company with a paid-up share capital of ₹100 crore or more Every private company Both (a) and (b) None 32. Which form is required to be filed for the incorporation of a company under the Companies Act, 2013? INC-32 (SPICe) INC-22 AOC-4 MGT-7 None 33. A private company must have at least how many directors? 1 2 3 5 None 34. The quorum for a board meeting of a company with more than 6 directors is: 1/3rd of total directors or 2, whichever is higher 1/4th of total directors or 3, whichever is higher 2 directors only All directors must be present None 35. Which committee is mandatory for every listed company under SEBI (LODR) Regulations? Audit Committee Corporate Social Responsibility (CSR) Committee Nomination and Remuneration Committee All of the above None 36. Which of the following is an objective of the Competition Act, 2002? Preventing anti-competitive agreements Regulating insider trading Controlling foreign exchange transactions Managing financial audits None 37. Under the IBC, 2016, the Corporate Insolvency Resolution Process (CIRP) must be completed within: 90 days 180 days (extendable to 330 days) 1 year 2 years None 38. Which of the following transactions is NOT covered under the Prevention of Money Laundering Act (PMLA), 2002? Fraudulent stock trading Smuggling and corruption Drug trafficking Tax evasion None 39. Which tribunal adjudicates disputes related to Competition Law in India? National Company Law Tribunal (NCLT) Securities Appellate Tribunal (SAT) Competition Commission of India (CCI) National Green Tribunal (NGT) None 40. Under FEMA, 1999, which entity is authorized to regulate foreign exchange transactions? SEBI RBI MCA Ministry of Finance 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!
