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Sr. No.
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Questionnaire
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Option-I
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Option-II
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Option-III
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Option-VI
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1.
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Securities exchange Board of India means-
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A Board established u/s 4
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A Board established u/s 5
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A Board established u/s 3
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A Board established u/s 4A
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2.
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Chairperson means-
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Central Govt.
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State Govt.
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Chairperson of the board
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None
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3.
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Collective investment scheme means-
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any scheme or arrangement which satisfies provision of Section 11AA
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any scheme or arrangement which does not satisfy the conditions specified in Section 11AA
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any scheme or arrangement which does not satisfy provision of Section 11AA
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any scheme or arrangement which satisfies the conditions specified in Section 11AA
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4.
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Existing Securities and Exchange Board means-
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SEBI constituted under the Resolution of the Govt. of India in the Department of Economic Affairs.
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A Board established u/s 3
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SEBI constituted under the Resolution of the Central Govt.
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None
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5.
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"Fund" means-
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Fund constituted under Section 11AA
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Fund constituted under Section 24
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Fund constituted under Section 14
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Fund constituted under Section 15
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6.
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Member" means-
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A member of the Board and excludes the Chairman
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A member of the Board and includes the Chairman
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A member of the Board and includes Official of board.
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None
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7.
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"Notification" means-
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a notification published in the Official Gazette
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a notification published in the Gazette of India
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a notification published in Local News Paper
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None.
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8.
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"Regulations" means-
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the regulations made by the Central Govt.
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the regulations made by the State Govt.
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the regulations made by the Board under this
Act
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None.
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9.
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"Reserve Bank" means-
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RBI constituted under
section 4 of the RBI Act, 1934
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RBI constituted under
section 3 of the RBI Act, 1934
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RBI constituted under
section 3A of the RBI Act, 1934
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RBI constituted under section 4A of the RBI Act, 1934
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10.
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Securities means-
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Securities mentioned under section 2 of SCRA, 1956
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Securities mentioned under section 3 of SCRA, 1956
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Securities mentioned under section 2 of SEBI Act, 1992
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Securities mentioned under section 3 of SEBI Act, 1992
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11.
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For the purposes of this Act, a Board shall be established by-
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By notification of the Central Govt.
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By notification of the State Govt.
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By notification of the Govt. of India in the Department of Economic Affairs.
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By notification of the Central Govt. and State Govt. both.
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12.
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A Board established u/s 3(1) shall be-
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A firm having perpetual succession and common seal
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A body corporate having perpetual succession and common seal
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A body of individual having perpetual succession and common seal
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None
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13.
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The head office of the Board shall be
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at Delhi
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at Bombay
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at Uttar Pradesh
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None
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14.
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The Board may establish offices-
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at other places in India
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at other places in State
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Both
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None
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15.
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Board established u/s 3(1) by the notification of central govt. shall consist of-
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A Chairperson, 1/2 member from the official of C.G./RBI and 2 other members appointed by the C.G.
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A Chairperson, 2 and 1 member from the official of C.G. /RBI respectively and no body.
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A Chairperson, 2/1 member from the official of C.G./RBI and 5 other members appointed by the C.G.
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None
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16.
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The general superintendence, direction and management of the affairs of the Board
shall vest in-
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Chairperson of Board only.
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Board of members.
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Chairperson of Board and member thereof both.
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None.
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17.
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Who may exercise all powers and do all acts and
things which may be exercised or done by the Board-
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Board of members
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Top official of Board
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By both
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None
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18.
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Chairman shall also have powers of-
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general superintendence, direction and management of the affairs
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general superintendence & direction of the affairs of the Board
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Only superintendence of affairs of Bard
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None
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19.
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The Chairman and members referred to in clauses (a) and (d) of sub-section (1) shall be appointed by-
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the Central Government
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the State Govt.
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By both
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None
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20.
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Members referred to in clauses (b) and (c) of section 4(1)shall be nominated by-
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Only Central Govt.
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Only RBI
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Central Govt. /RBI respectively
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None
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21.
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Five other members appointed by the central Government., of whom at least three shall be-
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Part-time members
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the whole-time members
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Both
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None
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22.
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The Chairman and the other members referred to in clauses (a) and (d) of section 4(1) shall be-
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persons of ability, integrity and standing shown capacity in dealing with problems relating to securities market
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persons having special knowledge or experience of law, finance, eco. accountancy, adminst.
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Both
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Any out of both
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23.
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The term of office and other conditions of service of the Chairman and the members referred to in clause (d) of sub- section (1) of section 4 shall be-
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Prescribed by the Central Govt.
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Prescribed by the Board
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Prescribed by the regulation
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None
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24.
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C.G. have the right to terminate the services of the Chairman or a member appointed under clause (d) of section 4(1)-
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at any time before the expiry of the period without giving any notice.
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At any time before expiry of the period by giving him notice of not less than three months in writing or three months’ salary and allowances in lieu thereof
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At any time before expiry of the period by giving him notice of not less than 2 months in writing or 2 months’ salary and allowances in lieu thereof
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None
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25.
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Chairman or a member shall also have the right to relinquish his office-
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at any time before the expiry of the period without giving any notice.
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At any time before expiry of the period by giving notice of not less than three months in writing to the Central Govt.
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At any time before expiry of the period by giving notice of not less than 2 months in writing to the Central Govt.
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None.
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26.
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Provision regarding removal of member from office is contained-
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In section 6A
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In section 6
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In section 5A
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In section 5
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27.
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Central Govt. shall remove the member from the office only if such member-
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is, or at any time has been, adjudicated as insolvent
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is of unsound mind and stands so declared by a competent court
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has been convicted of an offence which involves a moral turpitude
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under all such circumstances
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28.
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No member shall be removed under this clause unless he has been given-
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a written notice
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a reasonable opportunity of being heard in the matter
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Both
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Nothing required removing such members.
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29.
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The Board shall meet at such times and places, and shall observe such rules of
procedure in regard to the transaction of business at its meetings-
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as may be provided by regulations
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as may be provided by Central Govt.
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as may be provided by Chairperson
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None
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30.
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The Chairman, if for any reason, is unable to attend a meeting of the Board, meeting shall preside by the member-
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Chosen by the Chairperson.
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chosen by the members present from amongst themselves at the
meeting
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None
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31.
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All questions which come up before any meeting of the Board shall be decided by-
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a majority votes of the members present and voting
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the chairperson
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Both if such is agreed between them
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None
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32.
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In the event of an equality of
Votes, who shall have a second or casting vote-
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Senior member of the Board
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the Chairman, or in his absence, the person presiding
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None of them.
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33.
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Any member, who is a director of a company and who has any direct or indirect pecuniary interest in any matter coming up for consideration at a
meeting, shall, as soon as possible after relevant circumstances have come
to his knowledge, he will-
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disclose the nature of his interest at such meeting
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Not disclose such interest in the meeting.
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Disclose if he want to disclose it.
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None
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34.
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Disclosure of interest of such member shall be-
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Optionally recorded in the proceedings of the Board
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recorded in the proceedings of the Board
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No need to record
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None
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35.
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Member who is a director in such a company shall-
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Not take any part in any deliberation or decision of the Board with respect to that matter
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take any part in any deliberation or decision of the Board with respect to that matter
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Both if he want to do so.
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36.
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No act or proceeding of the Board shall be invalid merely by reason of-
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any vacancy in, or any defect in the constitution of, the Board
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any defect in the appointment of a person acting as a member of the Board
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any irregularity in the procedure of the Board not affecting the merits of the case.
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All of them
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37.
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The Board may appoint such other officers and employees as it considers necessary for-
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General superintendence, administration or direction of affairs of the Board.
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Management of the board and to do related jobs.
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the efficient discharge of its functions under this Act
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38.
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The term and other conditions of service of officers and employees of the Board shall be such as may be-
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determined by central Govt.
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determined by regulations
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Determined by the Chairperson
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Determined by the Board
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39.
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Absorption of any employee by the Board in its regular service shall-
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entitle to any compensation under Industrial Dispute Act, 1947
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not entitle to any compensation under Industrial Dispute Act, 1947 or other law
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None of them
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40.
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Whether claim for such compensation shall be
entertained by any court, tribunal or other authority.
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Yes
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No
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Depend upon particular fact of the circumstances
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41.
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Duty of the Board under SEBI is to-
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Protect the interests of investors in securities
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to promote the development of securities market
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regulate the securities market
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All of them.
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42.
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For the protection of investors, Board may specify by regulations-
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the matters relating to issue of capital, transfer of securities and other matters
incidental thereto
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the manner in which such matters shall be disclosed by the companies
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Both of the matters
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None of them
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43.
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For the protection of investors, Board may specify by general or special orders-
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prohibit any company from issuing prospectus, any offer document, or advertisement soliciting money from the public for the issue of securities
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specify the conditions subject to which the prospectus, such offer document or advertisement may be issued
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Both of the matters
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None of them
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44.
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Whether the SEBI Board may specify the requirements for listing and transfer of securities and other matters incidental thereto?
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No
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Yes
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Subject to the provision of SCRA, 1956
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45.
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A collective investment scheme shall be a scheme or arrangement-
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which satisfies the conditions referred to in subsection(2) of section 11AA(1)
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which satisfies the conditions referred to in subsection(2) of section 14AA(1)
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which does not satisfy the conditions referred to in subsection(2) of section 11AA(1)
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None of them
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46.
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The contributions, or payments made by the investors to this scheme or arrangement are -
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pooled and utilized solely for the purposes of the scheme or arrangement
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Done to receive profits, income, produce or property from such scheme or arrangement
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managed on behalf of the investors
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All of them.
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47.
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Whether the Investors have day to day control over the management and operation of the scheme or arrangement
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No
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Yes
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Subject to the provision contained in the regulation
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None
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48.
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Any scheme or arrangement providing for any scheme, Pension Scheme or the Insurance Scheme framed under the Employees Provident Fund and Miscellaneous Provisions Act, 1952 is a collective investment scheme or not?
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Yes, it may be regarded as a scheme or arrangement
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No, it may be regarded as a scheme or arrangement
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49.
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Any scheme or arrangement under which deposits are accepted by a company declared as a Nidhi or a mutual benefit society under section 620A of the Companies Act
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Yes, it may be regarded as a scheme or arrangement
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No, it may be regarded as a scheme or arrangement
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50.
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Under section 11B, Board may issue directions to -
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to any person or class of persons referred to in section 12, or associated with
the securities market
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to any company in respect of matters specified in section 11A, as may be
appropriate in the interests of investors in securities and the securities market
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Both of them
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None of them
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51.
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Board may issue such direction when it think that it is necessary-
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in the interest of investors, or orderly development of securities market
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to prevent the affairs of any intermediary or other persons referred to in
section 12 being conducted in a manner detrimental to the interest of investors or
securities market
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to secure the proper management of any such intermediary or person
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All of them
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52.
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Board may direct Investigating Officer to investigate and report thereon to him on -
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the affairs of such intermediary
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persons associated with the securities market
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Both of them
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None of them
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53.
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Board shall issue direct such direction where is has ground to believe that-
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the transactions in securities are being dealt with in a manner detrimental to the investors or the securities market
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any intermediary or any person associated with the securities market has
violated any of the provisions
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Any of them
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Both of them
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54.
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Who has to produce and preserve all book, registers, other documents and records to the investigating officers -
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every manager, managing director, officer and other employee of the company
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every intermediary referred to in section 12
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every person associated with the securities market
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Any of them
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55.
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The Investigating Authority may require any intermediary or any person to furnish such information to, or produce such books, or registers, or other documents, or record before it as it may consider necessary
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if the furnishing these information or records
is not relevant or necessary for the purposes of its investigation.
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if the furnishing these information or records
is relevant or necessary for the purposes of its investigation
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None
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56.
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Investigating officers may keep these records etc into his custody for a maximum period of-
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3 Months
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6 Months
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4 Months
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None of them
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57.
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After the expiry of this period What will investigating officer do with these records etc.
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Destroy in the manner as it may think appropriate.
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Return to the same person from whom it has taken these records.
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None of them
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58.
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Whether the Investigating officer may also call for such records after these have been returned to the concerned person or not?
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No
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Yes
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After approval from the Central Government
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Depending upon the facts of the circumstances.
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59.
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In relation to the affairs of the business investigating officer may examine on oath-
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every manager, managing director, officer and other employee of the company
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every intermediary referred to in section 12
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every person associated with the securities market
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All of them
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60.
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Punishment with imprisonment up to one year, or with fine, up to one crore rupees, or with both, and also with a further fine up to five lakh rupees for every day after the first during which the failure or refusal continues in case any person fails to-
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furnish any information which is his duty under sub-section (3) to furnish
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to appear before the Investigating Authority personally when required to do so under sub-section (5) or to answer any question which is put to him by the Investigating Authority in pursuance of that sub-section
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sign the notes of any examination referred to in sub-section (7),
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Under any of the circumstances mentioned
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61.
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Notes of any examination under sub-section (5) shall be-
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taken down in
writing
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read over to, or by, and signed by, the person examined
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be used in evidence against him
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All of them
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62.
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Investigating Authority may make an application to the Judicial Magistrate of the first class having jurisdiction for an order for the seizure of such books etc. in case
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It may be destroyed, mutilated
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It may be altered, falsified
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It may be secreted
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Under any of the circumstances mentioned
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63.
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Magistrate may, by order, authorize the Investigating Authority to-
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to enter the place or places where such books, registers, other documents and record are kept
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to search that place or those places in the manner specified in the order
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to seize books, registers, other documents and record, it considers necessary for the purposes of the investigation
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Under any of the circumstances mentioned
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64.
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Seizure of books, registers, other documents and record of any listed public company shall not be allowed by the Magistrate unless-
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company indulges in insider trading
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market manipulation
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Any of them
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None of them
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65.
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What the Board will do after it is satisfied that any person has violated or likely to violate the provision of this act,
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Pass an order to cease such person or desist from doing it
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Will inform to the Central Govt. about such violation
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Take up the matter before the court.
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None of them
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66.
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No order to be issued to cease or desist from doing so in case of a public listed company unless it is satisfied that-
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It is engaged in insider trading
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Market manipulation
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In any of the case
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In both of the cases.
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67.
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Dealing in securities should be in accordance with the condition of certificate of registration by the-
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stock-broker, sub- broker, share transfer agent, banker to an issue
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trustee of trust deed, registrar to an issue, merchant banker underwriter, portfolio manager,
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investment adviser and such other intermediary who may be associated with securities market
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All of them,
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68.
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A person dealing with securities in any of the capacity before the establishment of the Board for which no registration was not required before such establishment of the Board may do so till-
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Disposal of application in case it has made an application within the said period.
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Continue to do for a period of three months
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In any manner
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None
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