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

Where no provision is made by contract between the partners for the duration of their partnership, or for the determination of their partnership, the partnership is called:

• A) Partnership at will
• B) Unlimited partnership
• C) Particular partnership
• D) Limited partnership

Which shares are issued to the promoters or the underwriters of the company?

• A) Deferred shares
• B) Ordinary shares
• C) Cumulative preference shares
• D) Equity shares

All of the following are true about Articles of Association, except:

• A) An alteration in it can be made through a special resolution by the company
• B) It rises the contracts between the company and the out side world
• C) It is subordinate to memorandum of association
• D) It is a doctrine of indoor management.

As per section 187 of the Ordinance, no person shall be appointed as a director unless he is a member of the ___________.

• A) Government
• B) Securities & Exchange Commission of Pakistan
• C) Company
• D) Private sector

Any person may inspect the documents kept by the registrar certificate of incorporation or any person can require a certificate of commencement of business of any company or register to be certified by the registrar on
payment of the fees specified in the ___________

• A) None of the above
• B) Fifth Schedule
• C) Sixth Schedule
• D) Seventh Schedule

Which of the following is not true about prospectus?

• A) It should be for subscription to shares or debentures
• B) It is an invitation to public
• C) It is made on behalf of a company
• D) It does not show profits made by the promoters

To term of the office of Directors of a listed company under the Code circulated by SECP 2002 shall be for__________. Any casual vacancy in the Board of Directors of a listed company shall be filled up by the directors within 30 days thereof.

• A) Three years
• B) Five years
• C) Six years
• D) Four years

A document of title of the shares held by a shareholder in a company is known as:

• A) Bonus certificate
• B) Dividend
• C) Participating preference share
• D) Share certificate

All of the following are powers of the Securities and Exchange Commission to control Non Banking Finance Companies (NBFC), EXCEPT:

• A) To follow board of directors
• B) To order special audit
• C) To incorporate the NBFC
• D) To require to furnish information

To Act as a Director of a listed company under the Code circulated by SECP 2002, that person, acting as director, must not be serving as a director of _____ other listed companies.

• A) Ten
• B) Eight
• C) Five
• D) Six

Which of the following is NOT a kind of shares of a limited company?

• A) Bonus share
• B) Capital share
• C) Preferred share
• D) Deferred share

The Objectives of the Companies Ordinance, 1984 include all of the following, except:

• A) Consolidate and amend the law relating to companies.
• B) Protection of interests of share holders
• C) Empowering corporations to intervene and investigate
• D) Healthy growth of corporate sector

A person who is not in the service of Pakistan or of any statutory body or any body which is owned or controlled by the Federal Government or a Provincial Government is known as:

• A) Private sector person
• B) Business person
• C) Member of commission
• D) Civil servant

The duration of the partnership entirely depends upon the:

• A) Consent of the partners
• B) Supply of the products
• C) Availability of the capital
• D) Rules passed by the parliament