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 type of company under the Companies Act, 2013? Private Company Public Company One Person Company Limited Liability Partnership None 2. The maximum number of members in a private company (excluding employees) as per the Companies Act, 2013 is: 50 100 200 Unlimited None 3. Who appoints the first auditor of a company other than a government company? Shareholders Board of Directors Company Secretary Registrar of Companies None 4. Which form is used for filing the annual return of a company with the Registrar of Companies? MGT-7 AOC-4 DIR-3 INC-22 None 5. The minimum number of directors required in a public company is: 1 2 3 5 None 6. Which section of the Companies Act, 2013 deals with the appointment of independent directors? Section 129 Section 149 Section 197 Section 186 None 7. The corporate social responsibility (CSR) provisions are applicable to companies with a net worth of at least: ₹100 crore ₹250 crore ₹500 crore ₹1,000 crore None 8. Under the Companies Act, 2013, a person can hold directorship in how many public companies at a time? 10 15 20 25 None 9. Which of the following meetings is mandatory for every company except a One Person Company? Annual General Meeting Board Meeting Extraordinary General Meeting Creditors Meeting None 10. A special resolution in a general meeting requires the approval of at least: 25% of members 50% of members 66% of members 75% of members None 11. SEBI was established in the year: 1988 1992 1996 2000 None 12. The primary function of SEBI is to: Regulate stock markets Control inflation Issue banknotes Collect direct taxes None 13. Which of the following is not a function of SEBI? Protecting investors’ interests Regulating mutual funds Issuing currency notes Promoting fair trade practices in the securities market None 14. FEMA replaced which of the following Acts? SEBI Act, 1992 FERA, 1973 SARFAESI Act, 2002 Companies Act, 1956 None 15. Under FEMA, an Indian resident can remit up to how much per year under the Liberalized Remittance Scheme (LRS)? $50,000 $100,000 $250,000 $500,000 None 16. The Competition Commission of India (CCI) was established in: 1991 2003 2009 2015 None 17. The Competition Act prohibits agreements that cause: Monopoly Cartels Unfair trade practices All of the above None 18. The IBC provides for the resolution of insolvency within: 90 days 180 days 270 days 330 days None 19. Which tribunal deals with corporate insolvency under IBC? ITAT NCLT CCI SEBI None 20. The main purpose of PMLA is to prevent: Black money circulation Tax evasion Money laundering Corruption in government offices None 21. Which of the following documents is required for the incorporation of a company? Articles of Association Memorandum of Association Declaration by professionals All of the above None 22. A person is disqualified from being appointed as a director if they have not paid calls on shares held by them for more than: 3 months 6 months 1 year 2 year None 23. Which of the following is true about a One Person Company (OPC)? It can have more than one director It requires a minimum of two shareholders It cannot be converted into a private company It is required to hold an AGM None 24. Which section of the Companies Act, 2013 deals with the doctrine of Indoor Management? Section 56 Section 99 Section 168 Not specifically mentioned in the Act None 25. The power to remove a director before the expiry of their term is given under: Section 115 Section 169 Section 197 Section 246 None 26. Which authority has the power to investigate a company's affairs under Section 210 of the Companies Act, 2013? SEBI CCI Central Government RBI None 27. Which form is filed for the appointment of a director in a company? DIR-3 DIR-12 INC-20 MGT-7 None 28. As per Companies Act, 2013, which type of company is exempt from having a statutory auditor? Private Company Section 8 Company One Person Company Producer Company None 29. A company can issue sweat equity shares to: Only directors Only employees Both employees and directors Only shareholders None 30. Under which section of the Companies Act, 2013 can a company voluntarily wind up its operations? Section 248 Section 271 Section 304 Section 349 None 31. The minimum lock-in period for promoters’ shares after an IPO is: 6 months 12 months 18 months 24 months None 32. Which of the following entities does not fall under SEBI's regulatory purview? Stock Exchanges Mutual Funds Banks Merchant Bankers None 33. FEMA is applicable to which of the following? Individuals residing in India Foreign nationals in India Companies registered in India All of the above None 34. Which of the following practices is not prohibited under the Competition Act? Predatory pricing Insider trading Cartel formation Abuse of dominant position None 35. Which section of the Competition Act, 2002 deals with anti-competitive agreements? Section 3 Section 4 Section 5 Section 6 None 36. The minimum default amount required to initiate insolvency proceedings under IBC is: ₹50,000 ₹1 lakh ₹5 lakh ₹10 lakh None 37. Which of the following is not a resolution professional under IBC? Chartered Accountant Cost Accountant Lawyer Business Consultant None 38. Under PMLA, financial institutions are required to maintain transaction records for a minimum of: 3 years 5 years 7 years 10 years None 39. Which of the following is considered an offense under PMLA? Structuring transactions to evade reporting Concealing ownership of assets Funneling money through shell companies All of the above None 40. Which of the following is NOT a type of share capital? Authorized capital Subscribed capital Overdraft capital Issued capital 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!
