Welcome to your International Navodaya Chamber of Commerce (INCOC) Platform ! Subject: Company Law 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 State 1. The minimum paid-up capital required to form a private company is: ₹1 lakh ₹2 lakh ₹5 lakh No minimum requirement None 2. A company’s Articles of Association can be altered by passing: An Ordinary Resolution A Special Resolution A Board Resolution A Resolution with Special Notice None 3. The first meeting of the Board of Directors must be held within how many days of incorporation? 15 days 30 days 60 days 90 days None 4. A listed company must have at least how many independent directors on its board? One-third of total directors One-fourth of total directors One-fifth of total directors Half of the total directors None 5. The main purpose of the Memorandum of Association is to: Define the company's internal rules Regulate meetings and voting rights Define the company's objectives and scope Outline the shareholding pattern None 6. The liability of a shareholder in a company limited by shares is: Unlimited Limited to the amount unpaid on shares Limited to the company’s total debt Equal to the company’s net assets None 7. A company must appoint its first statutory auditor within: 30 days of incorporation 40 days of incorporation 60 days of incorporation 120 days of incorporation None 8. The penalty for failing to appoint a Company Secretary in a listed company is: ₹10,000 per day ₹50,000 per day ₹1,00,000 fixed penalty ₹5,00,000 fixed penalty None 9. A company's Annual Return must be signed by: Only the Company Secretary Only the Managing Director The Company Secretary and one director The CEO and CFO None 10. The National Financial Reporting Authority (NFRA) is responsible for: Regulating accounting and auditing standards Approving corporate mergers Monitoring foreign investments Overseeing the Registrar of Companies None 11. The maximum gap allowed between two consecutive Board Meetings is: 60 days 90 days 120 days 180 days None 12. Which of the following companies is NOT required to hold an Annual General Meeting (AGM)? Private Company Public Company One Person Company Listed Company None 13. A person cannot serve as a director in more than how many public companies? 10 15 20 25 None 14. The quorum for a Board Meeting in a company with more than 10 directors is: 2 directors 3 directors 4 directors 5 directors None 15. The Companies Act, 2013 classifies a "Small Company" based on: Turnover and employee size Net profit and reserves Paid-up capital and turnover Market share None 16. Who is responsible for preparing the minutes of a Board Meeting? The Company Secretary The Chief Financial Officer The Chairman The Statutory Auditor None 17. Which of the following transactions does NOT require shareholder approval? Issue of Bonus Shares Appointment of a Director Sale of substantial assets Amendment of Articles of Association None 18. The penalty for failing to file the Financial Statements with the ROC is: ₹1,000 per day ₹10,000 per day ₹50,000 per day ₹1,00,000 fixed penalty None 19. Which of the following is NOT a mode of winding up a company? Voluntary Winding Up Compulsory Winding Up Winding Up by Creditors Automatic Winding Up None 20. The tenure of an independent director in a company is limited to: 3 years 5 years 10 years 15 years None 21. Who has the power to investigate the affairs of a company in case of fraud? SEBI Ministry of Corporate Affairs Serious Fraud Investigation Office (SFIO) Income Tax Department None 22. A company must maintain statutory books such as: Register of Members Register of Charges Minutes Book All of the above None 23. The concept of "Ultra Vires" means: A company’s act beyond its legal power The authority of shareholders Approval of the Board of Directorsc) Approval Investment in foreign subsidiaries None 24. The minimum subscription required for a public issue of shares 25% of the issue size 50% of the issue size 90% of the issue size 75% of the issue size None 25. Who has the authority to appoint an additional director? Board of Directors Shareholders in a General Meeting Ministry of Corporate Affairs Registrar of Companies None 26. The limit for loans and investments by a company without shareholders' approval is: 50% of net worth 60% of net worth 75% of net worth 100% of net worth None 27. A company can issue shares at a discount under: Rights Issue Public Issue Private Placement Sweat Equity None 28. The Director’s Report must include: Financial Performance Dividend Declaration Corporate Social Responsibility details All of the above None 29. The Companies Act, 2013 mandates rotation of auditors for listed companies after: 3 years 5 years 10 years 15 years None 30. The power to strike off a company from the Register of Companies lies with: National Company Law Tribunal (NCLT) Registrar of Companies (ROC) Ministry of Corporate Affairs (MCA) SEBI None 31. Which of the following is NOT a characteristic of a company? Perpetual succession Unlimited liability Separate legal entity Transferability of shares None 32. The time limit for filing a special resolution with the ROC is: 7 days 15 days 30 days 60 days None 33. The maximum number of shareholders allowed in a private company is: 50 100 200 Unlimited None 34. The quorum required for a General Meeting of a public company with more than 5,000 members is: 10 members 20 members 30 members 40 members None 35. The minimum percentage of shareholder votes required to pass a Special Resolution is: 51% 66% 75% 90% None 36. The Articles of Association primarily regulate: The external affairs of the company The relationship between the company and its directors The internal management and governance of the company The rights of creditors None 37. The removal of a company’s name from the Register of Companies is known as: Liquidation Dissolution Strike Off Compulsory Winding Up None 38. The minimum paid-up capital requirement for a One Person Company (OPC) is: ₹50,000 ₹1,00,000 ₹5,00,000 No minimum requirement None 39. Who among the following is NOT disqualified from being appointed as a director? An undischarged insolvent A person convicted of an offense involving moral turpitude A person of unsound mind declared by a court A person who has never been a shareholder None 40. The maximum tenure of a Managing Director in a public company without reappointment is: 3 years 5 years 10 years 15 years 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!
