A Non Banking Finance Company can not be incorporated without prior approval of:

• A) The Federal Government
• B) The Provincial Government
• C) State Bank
• D) Securities and Exchange Commission

Which of the following businesses are considered to be non banking finance companies?

• A) Housing Finance Services
• B) Leasing
• C) Investment Finance Services
• D) All of the given options

Authority vested in the __________ where registered office of the company is proposed in the memorandum of association to be situated.

• A) District
• B) Province
• C) Division
• D) City

How shall a prosecution for any offence under SECP Act against any person be instituted?

• A) With the consent of commission
• B) At the will of any two Commissioners
• C) By the appeal of aggrieved party
• D) By suo moto action of the court

Which of the following is NOT addressed by the Companies Ordinance, 1984?

• A) Issuance of shares
• B) Issuance of prospectus
• C) Protection of customers
• D) Incorporation of companies

Which of the following is not true about Memorandum of Association?

• A) It constitutes the conditions upon which the company is granted incorporation
• B) It is the constitution of the company in relation to outside world
• C) It is a fundamental legal document of a company
• D) Memorandum can be altered only by the Board of Directors

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