CAF-7 Ch-3 Directors

CAF-7 | Ch-3 | Directors

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CAF-7 Company Law Quiz offered for the ICAP CA students.

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Question 1 of 15

1. Question
1 points

Category: CAF7
The names and number of first directors shall be decided by the
- Members of the company
- Promotors of the company
- Subscribers to the memorandum
- CEO of the company
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Question 2 of 15

2. Question
1 points

Category: CAF7
A casual vacancy on the board of directors of a listed company must be filled:
- By calling an extraordinary general meeting within 90 days from the date of such vacancy
- By the directors not later than 90 days from the date of such vacancy
- By the directors or members in general meeting, as the case may be, in accordance with the provisions contained in the articles of association
- By the members in upcoming annual general meeting
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Question 3 of 15

3. Question
1 points

Category: CAF7
Which of the following ineligibility applies only to the appointment of directors in a listed company:
- Is a minor
- Is an undischarged insolvent
- Has been convicted by a court for an offence involving moral turpitude
- Has been declared by a court as a defaulter in repayment of the loan to a financial institution.
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Question 4 of 15

4. Question
1 points

Category: CAF7
A director shall be treated to have vacated the office of the director if he absents himself from
- Meetings held in the last three months
- Meeting held in the last 120 days
- Three consecutive meetings of the board of directors
- Three consecutive meetings of the members
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Question 5 of 15

5. Question
1 points

Category: CAF7
A company is not allowed to contribute any amount
- To any social purpose
- To any dividend payment
- To any political party
- To any Zakat payment
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Question 6 of 15

6. Question
1 points

Category: CAF7
The maximum number of directors of a public company fixed by the Companies Act, 2017 is
- 07
- 10
- 50
- Not specified by the Companies Act, 2017
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Question 7 of 15

7. Question
1 points

Category: CAF7
The quorum for a meeting of directors of a listed company will not be less than
- Two-third of their number or 4 whichever is greater
- One–third of their number or 4 whichever is greater
- One-fourth of their number or 4 whichever is greater
- Three-fourth of their number or 4 whichever is greater
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Question 8 of 15

8. Question
1 points

Category: CAF7
Robust Limited’s (RL’s) election of directors is to be held next week. RL’s Board of Directors has fixed nine directors to be elected for the next term. Whereas ten members have filed notices of their intention with RL to offer themselves for election as a director. Mr. Arqam owns 100,000 shares in RL. The maximum number of votes Arqam may be allowed to cast in favour of the director(s) would be?
- 9 votes
- 100,000 votes
- 900,000 votes
- 1,000,000 votes
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Question 9 of 15

9. Question
1 points

Category: CAF7
The number of directors to be elected in the forthcoming election shall be fixed by the directors at least
- 21 days before the election in the general meeting
- 35 days before the election in the general meeting
- 60 days before the election in the general meeting
- None of the above is correct
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Question 10 of 15

10. Question
1 points

Category: CAF7
The persons who may wish to contest the election of directors are required to give notice to the company at least
- 7 days before the election
- 14 days before the election
- 21 days before the election
- None of the above is correct
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Question 11 of 15

11. Question
1 points

Category: CAF7
Any casual vacancy on the board of a listed company shall be filled up by the directors at the earliest but not later than
- 90 days from the date, the vacancy occurred.
- 120 days from the date, the vacancy occurred.
- 60 days from the date, the vacancy occurred.
- None of the above is correct
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Question 12 of 15

12. Question
1 points

Category: CAF7
In case of any material irregularity in the election of the directors, members having 10% or more voting power may apply to the court within
- 14 days of the election
- 14 days of the election
- 14 days of the election
- None of the above is correct
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Question 13 of 15

13. Question
1 points

Category: CAF7
Mr. M has given a request to the company to hold a fresh election of directors upon acquisition of a sizable shareholding in the company that is a public unlisted company. The directors are supposed to proceed to hold fresh election of directors within
- 30 days of such application
- 60 days of such application
- Any time period as decided by the SECP
- One year of such application
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Question 14 of 15

14. Question
1 points

Category: CAF7
A person cannot be appointed as director of a company if he is lacking fiduciary behaviour and a declaration to this effect has been made by the court at any time during preceding
- 3 years
- 5 years
- Any time period as decided by the court
- None of the above is correct
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Question 15 of 15

15. Question
1 points

Category: CAF7
The directors of a public company shall meet at least once in
- Every month
- Each quarter of a year
- A year
- None of the above is correct
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