Free Practice Questions for ICSP CS

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Key Facts: ICSP CS Exam

13 papers

Total Subjects

ICSP Syllabus

3 hours

Exam Paper Duration

ICSP Exam Rules

Bi-annual

Exam Frequency

ICSP Council

5 years

Max Completion Time

ICSP Regulations

The ICSP Company Secretary Qualifying Examination, administered by the Institute of Corporate Secretaries of Pakistan, consists of 13 papers across Modules A, B, and C. The program is self-study based, with examinations conducted bi-annually in January and July. It is a benchmark credential for corporate governance, legal compliance, and secretarial auditing in Pakistan.

Sample ICSP CS Practice Questions

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

1What is the minimum number of members required to form a private company (other than a Single Member Company) under the Companies Act, 2017?

A.One

B.Two

C.Three

D.Fifty

Explanation: According to the Companies Act, 2017, a private company (other than a Single Member Company) must have at least two members. It may have up to fifty members, excluding employees, as part of its restriction on public subscription.

2Under the Companies Act, 2017, what is the maximum duration permitted between the date of incorporation of a company and its first Annual General Meeting (AGM)?

A.12 months

B.16 months

C.18 months

D.24 months

Explanation: Section 132 of the Companies Act, 2017 states that every company must hold its first Annual General Meeting (AGM) within sixteen months from the date of its incorporation. Subsequent AGMs must be held once in every calendar year within 120 days of the close of the financial year.

3What is the statutory notice period required for holding an Annual General Meeting (AGM) of a public company in Pakistan?

A.7 days

B.14 days

C.21 days

D.30 days

Explanation: Section 132 of the Companies Act, 2017 requires that the notice of an Annual General Meeting must be sent to all members, directors, and auditors at least twenty-one days before the date of the meeting. This ensures adequate time for members to review financial statements and resolutions.

4What type of resolution is required to change the name of a company in Pakistan?

A.Ordinary Resolution

B.Special Resolution

C.Board Resolution

D.Unanimous Resolution

Explanation: Under the Companies Act, 2017, a change in a company's name involves altering its Memorandum of Association, which requires a Special Resolution passed by at least three-fourths of the members entitled to vote. Additionally, approval from the SECP must be obtained.

5Who has the statutory authority to convene an Extraordinary General Meeting (EGM) of a company?

A.The directors only

B.The company secretary only

C.The directors, or members holding at least 10% voting power

D.The external auditor only

Explanation: According to Section 133 of the Companies Act, 2017, the directors may convene an EGM at any time. Furthermore, they must do so upon a requisition made by members holding not less than one-tenth (10%) of the voting power of the company.

6Under Section 151 of the Companies Act, 2017, for how long must a company preserve the minutes of general meetings in physical form?

A.At least 10 years

B.At least 20 years

C.At least 50 years

D.Permanently in physical form only

Explanation: Section 151(4) of the Companies Act, 2017 requires every company to preserve records of resolutions and minutes of general meetings at its registered office simultaneously in physical and electronic form, with physical preservation for at least twenty years and electronic preservation permanently.

7What is the standard SECP filing form for notifying the appointment, resignation, or change in particulars of directors and officers?

A.Form A

B.Form 29

C.Form 34

D.Form 38

Explanation: Form 29 is the statutory form filed with the SECP registrar to report any changes in the board of directors, chief executive, company secretary, chief financial officer, or auditors within fifteen days of the change.

8In Pakistan, who is legally authorized to sign and certify the annual return (Form A) of a public company?

A.Any shareholder of the company

B.A director and the Company Secretary

C.The external auditor only

D.The tax consultant of the company

Explanation: According to the Companies Act, 2017, the annual return (Form A) must be signed by a director and the company secretary (or by the chief executive officer if no secretary is appointed), certifying the details are true and correct.

9Under the listing regulations of the Pakistan Stock Exchange (PSX), how often must a listed company publish its financial statements?

A.Annually only

B.Semi-annually only

C.Quarterly

D.Monthly

Explanation: Listed companies in Pakistan are required by the SECP and PSX regulations to publish their financial statements on a quarterly basis. This includes the first, second (half-yearly reviewed), third quarter, and annual audited financial statements.

10According to the Code of Corporate Governance in Pakistan, who must chair the Audit Committee of a listed company?

A.The Chief Executive Officer (CEO)

B.The Chairman of the Board

C.An Independent Director

D.The Chief Financial Officer (CFO)

Explanation: The Code of Corporate Governance mandates that the Audit Committee of a listed company must be chaired by an independent director. This ensures objective oversight of financial reporting and internal controls without management bias.

About the ICSP CS Exam

The ICSP Company Secretary Qualifying Examination is the premier professional qualification for corporate secretaries in Pakistan, testing expertise in company law, board meeting procedures, corporate governance, financial accounting, and taxation.

Exam sponsor: Institute of Corporate Secretaries of Pakistan (ICSP). The requirements and fees below concern the certification or admission exam, separate from our free practice resources.

Assessment

Question count not published by the exam provider

Time Limit

3 hours per subject paper

Passing Score

Typically 50% per paper

Exam / Certification Fees

Rs. 500 (Module A), Rs. 700 (Module B), Rs. 800 (Module C) per subject paper

Exam sponsor website

Reported exam pass rate: Competitive. The pass rate fluctuates depending on the semester and paper difficulty, as set by the ICSP Council to maintain high professional standards. Exam sponsor website

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

Official sources

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.

Module A

Fundamental Corporate Knowledge

Economic environment, introduction to accounting, business math & statistics, commercial and industrial laws, and information technology.

Module B

Tactical Corporate Management

Human resource management, business finance, financial accounting and reporting, and corporate tax management.

Module C

Strategic Corporate Secretariat

Company law and allied rules, meeting law and procedure, secretarial practice and audit, and corporate laws and practice.

Preparing for the ICSP CS Exam

What You Need to Know

Passing score: Typically 50% per paper
Assessment: Question count not published by the exam provider
Time limit: 3 hours per subject paper
Exam / certification fees: Rs. 500 (Module A), Rs. 700 (Module B), Rs. 800 (Module C) per subject paper Official sources

Using Our Practice Resources

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ICSP CS: Suggested Study Strategy

1Focus heavily on the Companies Act, 2017, as it forms the backbone of Module C and secretarial practice.

2Understand the distinct roles, rules, and procedures governing Annual General Meetings (AGM) and Extraordinary General Meetings (EGM).

3Regularly review past papers published by the ICSP to familiarize yourself with the question pattern and expectations.

4Ensure strong preparation for corporate taxation, particularly the Income Tax Ordinance 2001 and Sales Tax Act 1990.

Frequently Asked Questions

What is the structure of the ICSP CS qualification?

The qualification is structured into 3 modules containing 13 papers in total: Module A (5 papers), Module B (4 papers), and Module C (4 papers). All papers must be passed to qualify for graduate membership.

How often are the ICSP CS examinations held?

Examinations are conducted twice a year, typically in the third week of January and July.

What is the passing score for each paper?

The passing threshold is generally set at 50% marks for each individual paper, subject to the final determination of the ICSP Council.

Is there any formal class attendance required?

No. The ICSP qualifying program is designed on a self-study basis. The institute provides the syllabus and recommended reading lists, and students prepare independently.