A ‘Statement of Ethics and Business Practices’ for directors and employees of a listed company is prepared by:

• A) Chairman of the company
• B) Board of directors
• C) Securities and Exchange Commission
• D) Executive directors

All of the following are the essential features of a partnership, EXCEPT:

• A) Mutual agency
• B) Legal entity
• C) Limited liability
• D) Profitable business

A setup established by a Stock Exchange for the registration of dealing in securities or settlement of trading in futures contracts is called:

• A) Stock broker
• B) Securities and exchange policy board
• C) Stock commission
• D) Clearing house

All of the following are purposes of Companies Ordinance, 1984, EXCEPT:

• A) Healthy growth of all businesses
• B) Full and fair disclosure of information
• C) Prevention of malpractices
• D) Consolidate and amend the law relating to companies

A firm is dissolved because of the death of a partner. Which type of dissolution is it?

• A) Dissolution by contingency
• B) Dissolution by partnership-at-will
• C) Dissolution by court
• D) Compulsory dissolution

The Appellate Bench of the Securities and Exchange Commission comprises of:

• A) Five commissioners
• B) Two commissioners
• C) At least two commissioners
• D) Not more than five commissioners

As per sec. 53 of the matters set out in prospectus,no prospectus shall be issued or an advertisement of a prospectus published in a newspaper less than seven days or more than ________ before the subscription list, as specified in the prospectus, is due to open

• A) Thirty days
• B) Forty-five days
• C) Sixty days
• D) Fifteen days

According to Sec. 315, copy of winding up order to be filed with registrar within _________from the date of the making of the winding up order, the petitioner in the winding up proceedings.

• A) Seven days
• B) Fifteen days
• C) Twenty days
• D) Ten days

All of the following are enclosed in Articles of association of a company, EXCEPT:

• A) Share capital, rights of share holders.
• B) Alteration of share capital
• C) Borrowing powers
• D) Liabilities of the members

If a person holds out himself to be a partner of a firm, which of the following NOT stands true?

• A) Person permits others to be represented as a partner
• B) Person does not become personally liable
• C) Person is an agent by estoppel
• D) Person becomes personally liable

As per sec. 305, the Court can wind up the company if the number of members is reduced, in the case of private company, below two or, in the case of any other company, ___________.

• A) Below five
• B) Below seven
• C) Below four
• D) Below six

Voluntary winding up of a company is done by:

• A) Either by members or by creditors
• B) Creditors
• C) Both members and creditors
• D) Members

Which of the following is not a basic type of Share Capital?

• A) Authorized capital
• B) Issued share capital
• C) Equity shares capital
• D) Called up share capital

The Securities and Exchange Commission when exercising its powers under SECP Act, 1997, shall have regard to which of the following?

• A) All of the given options
• B) The interest of potential public investors in the company
• C) The general public interest
• D) The quality and capability of the management of the company

As per Companies Ordinance, 1984, the maximum number of persons in a firm is:

• A) 20 persons
• B) 30 persons
• C) 10 persons
• D) 50 persons

As per section 25 of the Partnership Act, 1932, all the partners of a firm share liabilities of the firm:

• A) None of the given options
• B) Just individually
• C) Mutually and individually
• D) Just mutually

All policy decisions and directives of the Securities and Exchange Commission shall be made available to the public by:

• A) Providing on website
• B) Announcing in newspapers
• C) Publishing in the official gazette
• D) Official memorandums

A committee of the Securities and Exchange Policy Board constituted under section 15 is termed as _______ in SECP Act, 1997.

• A) Board
• B) Committee
• C) Commission
• D) Clearing house

Which of the following results in dissolution of firm?

• A) All of the given options
• B) Efflux of time
• C) Insolvency of a partner
• D) Death of a partner

Who is liable when a partner has signed in his own name a promissory note for the benefit of the firm?

• A) All partners
• B) The limited partners
• C) The signatory partner
• D) The major partners