Any person appointed as chief executive condition of a Non Banking Finance Company by the Securities and Exchange Commission can hold office for a period not exceeding ________.

• A) Five years
• B) One year
• C) Three years
• D) Two years

Which of the following is NOT a phase in formation of a company?

• A) Commencement of business
• B) Promotion phase
• C) Registration phase
• D) Inauguration phase

The Chairman of a listed company shall preferably be elected from:

• A) The non executive directors
• B) Minority shareholders
• C) The executive directors
• D) The majority shareholders

When was the Code of Corporate Governance circulated?

• A) 2000
• B) 2002
• C) 1997
• D) 1985

If any company commences business or exercises borrowing powers in contravention of this section,
every, officer and other person who is responsible for the contravention shall, without prejudice to any other liability, be liable to a fine not exceeding ___________ for every day during which the
contravention continues.

• A) Fifteen hundred rupees
• B) One thousand rupees
• C) Five hundred rupees
• D) Two thousand rupees

All of the following is essentially contained in the certificate of incorporation of a company, EXCEPT:

• A) Commencement of business
• B) Name of the company
• C) Amendments in the company’s particulars
• D) Date of issuance

The Securities and Exchange Commission of Pakistan Act, 1997 extends to:

• A) Securities and Exchange Commission
• B) Whole of Pakistan
• C) Stock exchanges
• D) Corporate sector

According to Securities & Exchange Commission of Pakistan Act, 1997, _____ means the day on which section 43 comes into force.

• A) Holiday
• B) Appointed day
• C) Winding up day
• D) Commencement day

A partnership can be dissolved based on the happening of which of the following?

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

Which of the following is necessary for the registration of a company?

• A) Preparation of required documents to be submitted for registration
• B) All of the given options
• C) To seek approval of the name of the company proposed by the promoters
• D) Filing of application for registration of the company

At the first annual general meeting of the company directors shall be elected in their place in accordance with section 178 for a term of:

• A) 2 years
• B) 1 year
• C) 5 years
• D) 3 years

The total amount of the share capital which the company can issue is called:

• A) Called Up Capital
• B) Authorized Capital
• C) Issued Share Capital
• D) Loan capital

No listed company shall have a person as a director who is serving as a director of:

• A) Five other listed companies
• B) Three other listed companies
• C) Another listed company
• D) Ten other listed companies

The Commission shall consist of such number of Commissioners, including the Chairman, appointed by the Federal Government as may be fixed by the Federal Government but such number shall not be less than five and _________

• A) More than eight
• B) More than six
• C) More than nine
• D) More than seven

Which of the following is true about a firm?

• A) A firm adopts legal status from its partners
• B) A firm has no legal existence
• C) A firm has a legal status separate from its partners
• D) None of the given options

Who can inspect the documents of a company kept by the registrar and may require a certificate of incorporation or a certificate of commencement of business?

• A) Financial institutions
• B) Share holders of the company
• C) Any person
• D) Directors of the company

The shareholders together holding not less than twenty per cent of the equity share capital of the company are called:

• A) Deferred shareholders
• B) Preferred shareholders
• C) Majority shareholders
• D) Minority shareholders

Persons who have entered into partnership with one another are individually called:

• A) Corporation
• B) Private limited
• C) Partner
• D) Firm

When a private company can start its business?

• A) On presenting memorandum of association
• B) On presenting articles of association
• C) On publishing the prospectus
• D) On issuance of certificate of incorporation

Within fifteen days of receipt of the complaint under sub-section (6),the Commission shall commence a hearing to determine the veracity of such complaint in accordance with such procedure as may be prescribed by rules made by the ____________

• A) Board of directors of the Company
• B) Court
• C) Provincial Government
• D) Federal Government