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Created on February 23, 2026 By

CA Sonal Saboo

CMA Final

Final Corporate and Economic Laws PN-13 Quiz 1

This quiz is based on the CMA Corporate and Economic Laws paper.
Each question is multiple-choice with 4 options, and only 1 option is correct.
Attempt the quiz to test your understanding of CMA CEL concepts.

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Category: Corporate and Economic Laws PN - 13

1. IEPF stands for

a. Investor Employment and Protection Fund

b. Investor Education and Publicity Fund

c. Investor Entrepreneurship and Protection

d. Investor Education and Protection Fund

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Category: Corporate and Economic Laws PN - 13

2. Once declared in AGM, dividend

a. May be revoked

b. Cannot be revoked

c. May be reduced

d. Payment can be delayed

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Category: Corporate and Economic Laws PN - 13

3. In case of deposits by the company,

a. no brokerage can be given

b. any amount of brokerage can be given

c. rate of brokerage shall be as per RBI Regulations

d. rate of brokerage shall be as per SEB Regulations

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Category: Corporate and Economic Laws PN - 13

4. “ loan” in parlance to Companies Act, means:

a. short term loan for revenue purpose

b. long term loans

c. cash credit

d. working capital

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Category: Corporate and Economic Laws PN - 13

5. A debenture trustee can be:

a. Any bank

b. Any NBFC

c. any merchant banker

d. Any entity registered with SEBI as such

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Category: Corporate and Economic Laws PN - 13

6. Register of deposit:

a. is voluntary

b. is mandatory but particulars may vary

c. is mandatory with particulars as per Rules

d. Not to be maintained at all

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Category: Corporate and Economic Laws PN - 13

7. Fully convertible debenture is a:

a. debt instrument

b. equity instrument

c. hybrid instrument

d. None of the above

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Category: Corporate and Economic Laws PN - 13

8. In case of secured debentures of public issue, the security is created I favour of:

a. Public

b. SEBI

c. Merchant banker

d. Debenture trustee

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Category: Corporate and Economic Laws PN - 13

9. Which chapter of the Companies Act, 2013, deals with foreign companies?

a. XX

b. XXI

c. XXII

d. XXIII

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Category: Corporate and Economic Laws PN - 13

10. Once a company is converted into LLP, intimation to ROC has to been made within:

a. 10 days

b. 15days.

c. 20days

d. 25 days

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Category: Corporate and Economic Laws PN - 13

11. A guarantee company is similar to:

a. Unlimited company

b. LLP

c. Partnership

d. Sole proprietorship

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Category: Corporate and Economic Laws PN - 13

12. ABC Ltd. has 35% shares in XYZ Ltd. The majority of directors of XYZ Ltd. are appointed and removed by ABC Ltd. XYZ Ltd. is:

a. Subsidiary of ABC Ltd.

b. Not a subsidiary of ABC Ltd.

c. Depends on Board of ABC Ltd.

d. Depends on Board of XYZ Ltd.

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Category: Corporate and Economic Laws PN - 13

13. ABC Ltd. is registered in India with 100% shares being held by KYZ Ltd., a company registered in UK having no business in India. ABC Ltd. is a:

a. An Indian Company

b. Foreign company

c. Wholly owned subsidiary of a foreign company but Indian Company

d. Does not come under definition of foreign company

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Category: Corporate and Economic Laws PN - 13

14. Section 8 companies cannot:

a. Generate surplus

b. Make profit

c. Distribute dividend

d. Profit is to given to Govt.

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Category: Corporate and Economic Laws PN - 13

15. Change of registered office within a city, town or village requires

a. Special Resolution

b. Board Resolution

c. Approval of CG

d. None of the above

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Category: Corporate and Economic Laws PN - 13

16. Declaration by professional at the time of incorporation of a company means declaration by

a. Practicing CS

b. Practicing CA

c. Practicing CMA

d. Any of the above

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Category: Corporate and Economic Laws PN - 13

17. Certificate of incorporation is issued by: -

a. Regional director

b. Registrar of companies

c. Central Govt.

d. None of the above

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Category: Corporate and Economic Laws PN - 13

18. Persons who sign the MOA are called:

a. Promoters

b. Shareholders

c. Subscribers to MOA

d. Members

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Category: Corporate and Economic Laws PN - 13

19. Life Insurance Corporation is:

a. A statutory corp. but not PFI

b. A statutory corp. and PFI

c. Govt. Company

d. None of the above

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Category: Corporate and Economic Laws PN - 13

20. Company which do not have any significant accounting transaction is called

a. Asocial Company

b. Non-functional company

c. Dormant company

d. Sleeping company

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Category: Corporate and Economic Laws PN - 13

21. Foreign company is a company, registered out of India and

a. Having a place of business in India

b. Conducts any business in India

c. Need not have any business in India

d. Either (1) or (2)

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Category: Corporate and Economic Laws PN - 13

22. Restriction in transfer of shares can be there in

a. Private Ltd. company

b. Public Ltd. Company

c. Govt. company

d. Unlimited company

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Category: Corporate and Economic Laws PN - 13

23. In case of “limited” companies, what is limited?

a. Shares

b. Liability of members

c. Capital of the company

d. Powers of the shareholders

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Category: Corporate and Economic Laws PN - 13

24. In order to be a Govt. Company, 51% shares shall be held by: -

a. Central Govt.

b. State Govt.

c. Both Central and State Govt. jointly

d. Any or all of the above

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Category: Corporate and Economic Laws PN - 13

25. How many minimum members are required to form a public limited company?

a. 3

b. 4

c. 6

d. 7

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Final PN-13 Corporate and Economic Laws Quiz 1

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