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Dec 2017 Law Paper

The Number of MCQs are limited as per ICMAI Past Paper in Syllabus 2016

1. The authority to appoint an additional director lies with:

Annual General Meeting Board Meeting Statutory Meeting None of the above

2. A company has 9 directors as of 01-01-2016. Two director positions became vacant on 02-01-2016. What is the required quorum for conducting a Board Meeting?

4 3 2 5

3. Which authority is responsible for recognizing a Stock Exchange?

Central Government State Government SEBI Supreme Court

4. A government department that provides irrigation water to farmers and charges fees for its services is classified as:

Firms Enterprise Joint Venture Joint Sector

5. Apple producers in Shimla formed an association to regulate apple production. This type of association is known as:

Pool Cartel Merger Combination

6. As per regulations, every banking company incorporated in India must prepare its balance sheet and profit & loss statement on the last working day of:

Calendar Year Accounting Year Month None of the above

7. A document summarizing key features of a prospectus as per SEBI regulations is called:

Red Herring Prospectus Abridged Prospectus Shelf Prospectus Deemed Prospectus

8. The Chairman of the Insurance Regulatory and Development Authority (IRDA) serves a term of _______ years and is eligible for reappointment.

3 years 4 years 5 years 6 years

9. Corporate Governance integrates both internal and external governance:

Techniques Mechanisms Systems Methods

10. Which of the following is a key advantage of a family business over a non-family business?

Staff recruitment Raising funds for growth Ownership vs. Management Deep industry insight