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Key Facts: GIA Cert Governance Practice Exam

100

Practice Questions

OpenExamPrep

75%

Passing Score

GIA

45 mins

Time Limit

GIA

Official Questions

GIA

The GIA Certificate in Governance Practice is a 20-question online test on board meetings, ASX disclosure, and corporate administration, requiring a 75% passing mark. This prep includes 100 practice questions.

Sample GIA Cert Governance Practice Practice Questions

Try these sample questions to review concepts for the GIA Cert Governance Practice exam. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1What is the statutory minimum notice period required for a general meeting of an ASX-listed public company in Australia under the Corporations Act 2001?

A.30 days

B.28 days

C.21 days

D.14 days

Explanation: Under Section 249HA of the Corporations Act 2001, an ASX-listed public company must give at least 28 days' notice of a general meeting, regardless of anything in its constitution. This mandatory period ensures retail shareholders have sufficient time to receive materials, consult advisers, and lodge proxy votes.

2Under the replaceable rules of the Corporations Act 2001, what is the default quorum for a meeting of a company's directors?

A.3 directors, provided at least one is non-executive

B.2 directors, who must be present at all times during the meeting

C.A simple majority of the total number of directors appointed

D.1 director, if they hold a power of attorney for the remaining board members

Explanation: According to Section 248F of the Corporations Act (a replaceable rule), the quorum for a directors' meeting is 2 directors, and they must be present throughout the entire meeting. Individual companies can vary this quorum requirement in their custom constitution.

3Within what period must a company enter minutes of a meeting into its minute book under Section 251A of the Corporations Act 2001?

A.Within 2 months after the meeting is held

B.Within 1 month after the meeting is held

C.Within 5 business days after the meeting is held

D.Within 14 days after the meeting is held

Explanation: Section 251A(1) of the Corporations Act 2001 requires a company to record minutes of its proceedings (meetings of members and meetings of directors) in a minute book within 1 month after the relevant meeting. Failure to do so is a strict liability offense for the company and its responsible officers.

4Who has the statutory right to appoint a proxy to attend and vote on their behalf at a general meeting of a public company?

A.Only members holding more than 5% of the total voting rights

B.Any member of the public company who is entitled to attend and vote

C.Only corporate members, whereas individual members must attend in person

D.Only members who reside outside the state where the meeting is being held

Explanation: Section 249X of the Corporations Act 2001 establishes a mandatory right for any member of a public company who is entitled to attend and cast a vote at a meeting of the company's members to appoint a proxy to attend and vote on their behalf.

5Under Section 250B of the Corporations Act 2001, what is the standard deadline for lodging proxy appointment documents before a general meeting?

A.At least 48 hours before the meeting is scheduled to start

B.At least 72 hours before the meeting is scheduled to start

C.By 5:00 PM on the business day prior to the meeting

D.At least 24 hours before the meeting is scheduled to start

Explanation: Under Section 250B(1) of the Corporations Act 2001, for an appointment of a proxy for a meeting of members to be effective, the proxy's appointment document must be received by the company at least 48 hours before the meeting. The company's constitution can specify a shorter period, but it cannot require a longer notice.

6What is the standard minimum notice period required for a general meeting of an unlisted public company under the Corporations Act 2001?

A.21 days

B.14 days

C.7 days

D.28 days

Explanation: Section 249H(1) of the Corporations Act 2001 states that a company must give at least 21 days' notice of a general meeting. This applies to all unlisted public companies and proprietary companies unless a shorter notice is agreed upon by members, or if a listed company is subject to the 28-day rule under Section 249HA.

7Which of the following documents serves as the official agenda and outline of business for an upcoming general meeting of shareholders?

A.Notice of Meeting

B.Chairman's Address

C.Board Charter

D.Proxy Summary Sheet

Explanation: The Notice of Meeting is the official statutory document sent to all shareholders, directors, and the auditor. It outlines the date, time, venue, and the exact business and resolutions to be considered at the general meeting, allowing members to decide how to vote.

8In meeting administration, who is responsible for ensuring that a quorum is present before a meeting of members can formally commence?

A.The external auditor

B.The Chairman of the meeting

C.The Chief Financial Officer

D.The ASIC representative in attendance

Explanation: The Chairman of the meeting has the primary procedural duty to confirm that a valid quorum is present in person, by proxy, or by corporate representative before opening the meeting and allowing business to be transacted.

9Which body has the statutory right to receive notice of all general meetings of a public company, as well as any other communications relating to the meetings?

A.The local government council of the registered office's area

B.The Australian Taxation Office (ATO)

C.The company's external auditor

D.The company's commercial debt collection agency

Explanation: Under Section 249K of the Corporations Act 2001, a company must give its auditor written notice of a general meeting and any other communications relating to the meeting that a member is entitled to receive. The auditor has a right to attend and speak on audit-related matters.

10What is the replaceable rule default for how voting is conducted in the first instance at a general meeting of members?

A.On a show of hands

B.Through a secret ballot

C.Via electronic proxy submissions only

D.By a formal poll of shares

Explanation: Section 250J(1) of the Corporations Act (a replaceable rule) states that a resolution put to the vote at a meeting of members must be decided on a show of hands unless a poll is demanded. However, listed companies now commonly conduct all votes via poll to reflect proxy instructions accurately.

About the GIA Cert Governance Practice Exam

The Certificate in Governance Practice offered by the Governance Institute of Australia is a foundational credential for company secretaries, assistant secretaries, and governance administrators. The exam tests meeting procedures (notice periods, agendas, quorums, proxies, voting, and minute-taking compliance), public disclosure requirements (ASX listing rules continuous disclosure, periodic reporting, registry filings), corporate governance essentials (delegation of authority, corporate registers), and ethical conduct (conflicts of interest, whistleblowing laws, insider trading).

Exam sponsor: Governance Institute of Australia. The requirements and fees below concern the certification or admission exam, separate from our free practice resources.

Assessment

Closed-book online multiple-choice examination administered via the GIA learning portal.

Time Limit

45 minutes

Passing Score

75%

Exam / Certification Fees

Approx. $150 - $250 AUD (varies by unit and membership status)

Exam sponsor website

Fees, eligibility, and exam policies can change. Confirm them with the exam sponsor before applying or paying.

Official sources

Governance Institute of Australia: official exam information

Our practice resources: topics covered

We aim to reflect publicly available exam outlines and topic information in our study resources. Coverage, format, and difficulty may differ from the actual exam, and we cannot guarantee that every detail is accurate or current. Confirm exam requirements, fees, and policies with the official exam sponsor.

30%

Meeting Procedures & Admin

Notice requirements, agendas, quorums, proxies, voting methods, and legislative minute-keeping standards

30%

Public Disclosure & Compliance

ASX listing rules, continuous disclosure, annual report timelines, and ASIC corporate registry compliance

25%

Corporate Governance Essentials

Board committee structures, delegation of authority, and maintaining corporate registries

15%

Ethical Conduct & Whistleblowing

Managing conflicts of interest, whistleblower protection regimes, and insider trading rules

Preparing for the GIA Cert Governance Practice Exam

What You Need to Know

Passing score: 75%
Assessment: Closed-book online multiple-choice examination administered via the GIA learning portal.
Time limit: 45 minutes
Exam / certification fees: Approx. $150 - $250 AUD (varies by unit and membership status) Official sources

Using Our Practice Resources

Work through all 100 available questions
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GIA Cert Governance Practice: Suggested Study Strategy

1Study notice periods: under the Corporations Act, know the standard notice requirements for general meetings of public listed companies (typically 28 days) versus private companies (21 days)

2Understand continuous disclosure: ASX Listing Rule 3.1 requires immediate disclosure of any information that a reasonable person would expect to have a material effect on the price or value of the entity's securities

3Memorize meeting minutes rules: minutes must be entered into the minute book within 1 month after the relevant meeting and signed by the chair within a reasonable time

Frequently Asked Questions

What is the GIA Certificate in Governance Practice?

It is a practical qualification designed for individuals responsible for corporate administration and governance support in Australian public, private, and not-for-profit organisations.

How is the GIA Certificate assessed?

It is assessed via online multiple-choice exams for each of the core modules, with a passing score of 75% required for each.