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Business Services Test - 11

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Business Services Test - 11
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Weekly Quiz Competition
  • Question 1
    1 / -0
    The minimum number of members required to be present at a valid meeting is called ___________. 
    Solution
    Quorum is the minimum number of members necessary to be present to conduct a valid meeting.
    Minutes means “a formal written record, in physical or electronic form, of the proceeding of a Meeting”.
    Agenda is the list of activities/business to be transacted in a meeting. It also sets out the order of these activities.
  • Question 2
    1 / -0
    A proposal put before the meeting for discussion and decision is called ______________.
    Solution
    1.Agenda is the list of items that are to be considered in a meeting. It is also called as order or business.
    2.The topic of discussion formally introduced by a member is a motion. A motion is moved with the permission of the Chairman.
    3.Prospectus is a legal document issued by a company that are offering its securities to public. It contains the information relating to the company and the issue.
    4.It can be hence said that a proposal put before the meeting for discussion and decision is called as motion.
  • Question 3
    1 / -0
    For passing an ordinary resolution, _____ percent votes are necessary. 
    Solution
    An ordinary resolution refers to a resolution passed by the members of the company by a simple majority. At least 51% members's consent should be recorded in favor of the motion passed in an ordinary resolution.
  • Question 4
    1 / -0
    For passing a special resolution, ______ majority is required.
    Solution
    • A special resolution is a resolution of the company’s shareholders where at least 75% of the votes cast by shareholders shall be in favor of it in order for it to be passed. Special business is transacted in a Special Resolution.
    • According to the Companies Act, 2013, a resolution shall be a special resolution when—
    (a) the intention to propose the resolution as a special resolution has been duly specified in the notice calling the general meeting or other intimation given to the members of the resolution;
    (b) the notice required under this Act has been duly given; and
    (c) the votes cast in favour of the resolution, whether on a show of hands, or electronically or on a poll, as the case may be, by members who, being entitled so to do, vote in person or by proxy or by postal ballot, are required to be not less than three times the number of the votes, if any, cast against the resolution by members so entitled and voting.
  • Question 5
    1 / -0
    A motion finally passed at the meeting is called ______________.
    Solution
    1. At a company meeting, a motion is put to vote. Once the motion is passed, it becomes a resolution.
    2. Minutes are the written records of the meeting. They include the details of attendees, issues raised, related responses, final decisions taken to address the issues.
    3. Agenda is the list of items that are to be considered in a meeting. It is also called as order or business.
  • Question 6
    1 / -0
    A motion which brings to the notice of the Chairman the irregularities of the meeting is called ___________.
    Solution
    Point of order is an interruption to a meeting. Any member can raise a question regarding the procedure of the meeting. When a debate on a particular motion is in progress, a member may raise a point of order and make interruption of the debate by drawing attention of the Chairman to some irregularity in the proceedings.
  • Question 7
    1 / -0
    An alteration proposed to the original motion. is called _______________.
    Solution
    1.Agenda is the list of items that are to be considered in a meeting. It is also called as order or business.
    2.At a company meeting, a motion is put to vote. Once the motion is passed, it becomes a resolution.
    3.If changes viz addition of words, deletion of words, substitution of words, are made in a motion under discussion before putting it to vote, they are amendments. 
    Thus, an alteration proposed to the original motion is called as an amendment.
  • Question 8
    1 / -0
    Elected representative of the shareholders is called a __________.
    Solution
    Director is a person elected by shareholders of the company. The Board of Directors is a team of people elected by a corporation's shareholders to represent the shareholders' interests and ensure that the company's management acts on their behalf. The head of the board of directors is the chairman or chairperson of the board.
  • Question 9
    1 / -0
    Select the option from the choices given below:
    Marine insurance policy is generally issued for goods in ______.
    Solution
    A marine insurance contract is an agreement whereby the insurer undertakes to indemnify the insured in the manner and to the extent thereby agreed against marine losses. The insurer guarantees to make good the losses due to damage to the ship or cargo arising out of the risks incidental to sea voyages.
  • Question 10
    1 / -0
    Fill in the blank:
    The principle of indemnity is not applicable to ______ insurance.
    Solution
    Under life insurance, subject matter of insurance is the life of an individual. The principle of indemnity does not apply to a life insurance as the life of a person cannot be valued in terms of money. For this reason, actual loss cannot be arrived at. The amount of insurance is decided by each individual.
    Under fire, marine, and motor insurance contracts the loss is measurable.
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