The PFRDA Grade A Companies Act Practice Quiz has been prepared to help candidates prepare for the General Stream Paper 2 by practising questions from the Companies Act, 2013. The quiz covers key areas such as company formation, securities, share capital, dividends, audit and auditors, directors, company meetings, and corporate law.
In this blog, we have provided a PFRDA Grade A practice quiz along with a free PDF containing questions with direct answers and solutions.
Download PFRDA Grade A Companies Act Practice Quiz PDF
The PFRDA Grade A Companies Act Practice Quiz has been prepared to help candidates revise important provisions of the Companies Act, 2013 covered in the PFRDA Grade A General Stream syllabus. The direct link to download PDF is provided below:
| Particulars | Link |
|---|---|
| PFRDA Grade A Companies Act Practice Quiz | Download Now |
| PFRDA Grade A Stream Wise PYPs | Download Now |
Attempt PFRDA Grade A Companies Act Practice Quiz
Take a free test based on the Companies Act topic and assess your level of preparation for the upcoming exam.
1. Under Section 42 of the Companies Act, 2013, a private placement offer can be made to how many persons in aggregate in a financial year?
2. Under the Companies Act, 2013, a document containing an offer to the public for sale of shares by an existing member of the company is treated as:
3. Which section of the Companies Act, 2013 provides for a ‘shelf prospectus’ valid for a period of one year from the opening of the first offer?
4. As per the Companies Act, 2013 read with the relevant rules, if the minimum subscription is not received on an issue, application money must be refunded to applicants within:
5. Which section of the Companies Act, 2013 empowers SEBI to administer provisions relating to issue and transfer of securities and non-payment of dividend, in the case of listed companies?
6. Criminal liability for untrue or misleading statements in a prospectus is dealt with under which section of the Companies Act, 2013, attracting punishment under the fraud provisions?
7. Civil liability for mis-statements in a prospectus under Section 35 of the Companies Act, 2013 may extend to all of the following EXCEPT:
8. Under Section 42 of the Companies Act, 2013, money received on a private placement application must be kept in:
9. As per Section 23 of the Companies Act, 2013, a public company may issue securities through which of the following methods?
10. As per Section 43 of the Companies Act, 2013, the share capital of a company limited by shares consists of:
11. Under Section 53 of the Companies Act, 2013, a company:
12. As per Section 55 of the Companies Act, 2013, the maximum period for redemption of preference shares is generally:
13. Under Section 62 of the Companies Act, 2013, in a rights issue, the offer to existing shareholders must remain open for acceptance for a period of not less than:
14. As per Section 68 of the Companies Act, 2013, the maximum buyback of equity shares permissible in a financial year is:
15. As per Section 71 of the Companies Act, 2013, debentures issued by a company:
16. Under Section 47 of the Companies Act, 2013, preference shareholders acquire voting rights on every resolution if dividend on cumulative preference shares remains unpaid for:
17. As per Section 54 of the Companies Act, 2013, sweat equity shares can be issued to directors or employees:
18. As per Section 66 of the Companies Act, 2013, a reduction of share capital by a company requires:
19. As per Section 123 of the Companies Act, 2013, before declaring dividend, a company must provide for depreciation in accordance with:
20. As per Section 123 of the Companies Act, 2013, dividend may be declared out of free reserves in a year of inadequate or no profits, subject to:
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What is the Companies Act syllabus for PFRDA Grade A?
The Companies Act, 2013 is included in the General Stream syllabus of PFRDA Grade A Paper 2. The specified syllabus covers Chapters III, IV, VIII, X, XI, XII, and XXVII of the Act. These chapters deal with important areas such as securities, share capital, dividends, audits, directors, company meetings, and the National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT).
| Chapter | Topic Covered | Important Areas for Preparation |
| Chapter 3 | Prospectus and Allotment of Securities | Public offer, private placement, prospectus, shelf prospectus, red herring prospectus, mis-statements, allotment of securities |
| Chapter 4 | Share Capital and Debentures | Types of share capital, issue of shares, transfer and transmission, alteration of share capital, buy-back, debentures |
| Chapter 8 | Declaration and Payment of Dividend | Declaration of dividend, unpaid dividend, Investor Education and Protection Fund, payment of dividend |
| Chapter 10 | Audit and Auditors | Appointment, eligibility, disqualification, powers and duties, removal, resignation, prohibited services |
| Chapter 11 | Appointment and Qualifications of Directors | Board of Directors, types of directors, appointment, qualifications, disqualifications, duties and resignation |
| Chapter 12 | Meetings of Board and Its Powers | Board meetings, general meetings, resolutions, quorum, committees, related party transactions, managerial powers |
| Chapter 27 | National Company Law Tribunal and Appellate Tribunal | Constitution, powers, jurisdiction, orders, appeals, NCLT and NCLAT proceedings |
What are the important topics under Chapter 3 of the Companies Act?
Chapter III of the Companies Act, 2013 deals with Prospectus and Allotment of Securities. Candidates should understand the rules related to public offers, private placement, prospectus, and the issue of securities.
- Public offer of securities
- Private placement
- Role of SEBI in regulating securities
- Prospectus and its contents
- Offer of securities for sale
- Shelf prospectus
- Red herring prospectus
- Advertisement of prospectus
- Issue of application forms
- Dematerialised form of securities
- Criminal liability for mis-statements
- Civil liability for mis-statements
- Allotment of securities
- Refund of application money
- Conditions related to allotment
What are the important topics under Chapter 4 ?
Chapter IV covers Share Capital and Debentures, making it an important area for understanding the capital structure of a company. Candidates should study the different types of share capital, issue and transfer of shares, alteration of share capital, further issue of shares, and buy-back of securities.
- Share capital and its types
- Equity shares and preference shares
- Issue of share certificates
- Transfer and transmission of securities
- Alteration of share capital
- Further issue of share capital
- Rights issue
- Bonus shares
- Reduction of share capital
- Buy-back of securities
- Restrictions on purchase of own shares
- Sweat equity shares
- Employee stock options
- Preference share capital
- Debentures
- Nomination relating to securities
- Key provisions related to voting rights
What are the important topics under Chapter VIII of the Companies Act?
Chapter VIII deals with Declaration and Payment of Dividend. Candidates should understand the basic rules for declaring and paying dividends and the treatment of unpaid or unclaimed dividends. The chapter also covers the Investor Education and Protection Fund (IEPF) and the consequences of failure to distribute dividends. Questions can test both the concepts and the conditions related to dividend payment.
- Meaning and declaration of dividend
- Sources from which dividend can be declared
- Interim dividend
- Final dividend
- Transfer of unpaid dividend
- Unpaid Dividend Account
- Investor Education and Protection Fund
- Claiming unpaid dividend
- Transfer of shares related to unpaid dividend
- Penalty for failure to distribute dividend
- Rights of shareholders relating to dividend
What are the important topics under Chapter 10 of the Companies Act?
Chapter X covers Audit and Auditors and is an important area for understanding the audit framework of companies. Candidates should study the appointment, eligibility, qualifications, and disqualifications of auditors. The chapter also covers the powers and duties of auditors, audit reports, prohibited services, removal and resignation of auditors, and penalties for non-compliance.
- Appointment of auditors
- First auditor of a company
- Subsequent appointment of auditors
- Rotation of auditors
- Eligibility and qualifications of auditors
- Disqualifications of auditors
- Appointment of audit firms
- Removal of auditors
- Resignation of auditors
- Remuneration of auditors
- Powers and duties of auditors
- Auditing standards
- Audit report
- Auditor’s attendance at general meetings
- Prohibited services by auditors
- Auditor’s liability and penalties
- Cost audit provisions
What are the important topics under Chapter 11 of the Companies Act?
Chapter XI deals with the Appointment and Qualifications of Directors. This chapter is important for understanding the structure and functioning of the Board of Directors. Candidates should study the composition of the Board, appointment and qualification of directors, independent directors, disqualifications, resignation, removal, and duties of directors. The provisions related to the Director Identification Number (DIN) and key responsibilities of directors should also be revised.
- Board of Directors
- Minimum and maximum number of directors
- Types of directors
- Appointment of directors
- Director Identification Number (DIN)
- Eligibility and qualifications
- Disqualifications of directors
- Independent directors
- Woman directors
- Resident directors
- Additional directors
- Alternate directors
- Nominee directors
- Retirement of directors by rotation
- Resignation of directors
- Removal of directors
- Duties of directors
- Disclosure of interest by directors
- Vacation of office
- Loans to directors
- Restrictions on the number of directorships
What are the important topics under Chapter 12 of the Companies Act?
Chapter XII covers Meetings of Board and Its Powers. Candidates should understand the rules related to Board meetings, general meetings, notices, quorum, resolutions, and voting. This chapter also includes important provisions related to the powers of the Board, committees, loans and investments, related party transactions, and other corporate decisions. Candidates should focus on the basic rules and important conditions under these provisions.
- Board meetings
- Frequency of Board meetings
- Notice of Board meetings
- Quorum for Board meetings
- Participation in Board meetings
- Resolutions passed at Board meetings
- Annual General Meeting (AGM)
- Extraordinary General Meeting (EGM)
- Notice of general meetings
- Quorum for general meetings
- Voting and voting rights
- Ordinary and special resolutions
- Postal ballot
- Minutes of meetings
- Audit Committee
- Nomination and Remuneration Committee
- Stakeholders Relationship Committee
- Corporate Social Responsibility Committee
- Powers of the Board
- Restrictions on the powers of the Board
- Loans and investments by companies
- Related party transactions
- Disclosure of interest
- Contracts and arrangements involving related parties
What are the important topics under Chapter 27 of the Companies Act?
Chapter XXVII deals with the National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT). Candidates should understand the basic structure, constitution, powers, jurisdiction, and functions of these bodies. The chapter also covers appeals against orders and matters related to proceedings before the Tribunal. Questions can focus on the role and powers of NCLT and NCLAT under the Companies Act.
- Constitution of NCLT
- Constitution of NCLAT
- Composition of the Tribunals
- Qualifications of members
- Powers and functions of NCLT
- Jurisdiction of NCLT
- Powers and functions of NCLAT
- Appeals against orders of NCLT
- Orders of NCLAT
- Tribunal proceedings
- Application of relevant legal provisions
- Right to appeal
- Role of the Tribunal in company-related matters
Which Companies Act topics should candidates focus on for PFRDA Grade A?
Candidates should give special attention to topics that involve definitions, conditions, powers, duties, appointment rules, eligibility, disqualifications, timelines, and penalties. Questions from the Companies Act may test both direct knowledge and the practical application of provisions. Candidates should revise the specified chapters systematically instead of trying to study the entire Act in the same level of detail.
| Priority Area | Topics to Revise |
| Securities | Prospectus, public offer, private placement, shelf prospectus, red herring prospectus |
| Share Capital | Equity shares, preference shares, rights issue, bonus shares, buy-back, reduction of capital |
| Dividend | Declaration, payment, unpaid dividend, IEPF |
| Audit | Appointment, qualifications, disqualifications, duties, removal, resignation |
| Directors | Appointment, DIN, independent directors, disqualifications, duties, removal |
| Meetings | Board meetings, AGM, EGM, quorum, resolutions, voting |
| Board Powers | Loans, investments, committees, related party transactions |
| NCLT/NCLAT | Constitution, powers, jurisdiction, appeals, Tribunal proceedings |
How can candidates prepare for the PFRDA Grade A Companies Act section?
Candidates should begin by reading the specified chapters of the Companies Act, 2013 and making short notes of important provisions. After completing each chapter, they should solve practice questions to check their understanding. Candidates should also revise important definitions, conditions, powers, duties, penalties, and procedural requirements. Regular quizzes and mock tests can help improve speed and accuracy for the PFRDA Grade A Paper 2 examination.
- Read the specified chapters of the Companies Act, 2013.
- Make short notes of important sections and provisions.
- Focus on definitions and important legal terms.
- Learn important conditions and exceptions.
- Revise appointment and disqualification provisions carefully.
- Practice questions after completing each topic.
- Attempt the PFRDA Grade A Companies Act Practice Quiz regularly.
- Analyse incorrect answers after every quiz.
- Revise weak topics multiple times.
- Attempt full-length Paper 2 mock tests after completing the syllabus.
FAQs
The PFRDA Grade A Companies Act syllabus covers Chapters III, IV, VIII, X, XI, XII, and XXVII of the Companies Act, 2013.
Chapter III covers Prospectus and Allotment of Securities, including public offers, private placement, prospectus, shelf prospectus, red herring prospectus, and liability for mis-statements.
Chapter IV deals with Share Capital and Debentures, including types of shares, issue and transfer of shares, alteration of capital, buy-back, and debentures.
Candidates should study declaration and payment of dividend, unpaid dividend, the Investor Education and Protection Fund, and related provisions.
Chapter XI focuses on the appointment and qualifications of directors, including Board composition, independent directors, disqualifications, duties, resignation, and removal.
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