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ICSI Campus Placement Interview Question
ICSI Campus Placement Interview Question – If you are applying for a new job then you will have to face the interview.Interview is the daring deal which requires lot of self confidence in your self. You may be looking for the interview questions, interview tips & advice etc.Sample secretary interview questions that explore your personal traits, work competencies and motivation for the secretarial job.Be prepared for the range of typical interview questions asked in a secretary job interview. Use the answer help to develop your own excellent interview answers and get the secretarial position you want.
ICSI Campus Placement Interview Questions and Answers – Technical
What are the essential characteristics of a company?
The essential characteristics of a company are:
It is a voluntary association of persons.
It is a separate legal entity.
It has a common seal.
It has a perpetual succession.
It is created by law with limited liability.
What are the rights and duties of Directors?
Rights of Directors:
Right to participate in the affairs of the company
Right to have remuneration
Right to compensation.
Duties of Directors:
Duty of greatest good faith of fiduciary duties.
Duty of reasonable care, skill and diligence.
Duty to attend Board Meetings.
Duty to invest Company’s money.
Duty not to delegate functions.
To see that all money received from applicants are deposited in a scheduled bank.
To call an extra ordinary general meeting when demanded by a valid requisition.
To present annual accounts and balance sheet.
To forward a statutory report to every member of the company.
To call and hold the statutory meeting.
To disclose their interest while entering into any transaction with the company.
Not to enter into any contract with the company without the consent of the Board of Directors for the sales, purchase or supply of any goods, materials etc.
What is the Statutory company?
A company which is formed by the special Act passed by the Central or State legislature is called Statutory company. This type of company is not required to frame their Memorandum or Articles of Association. They are also not required to use the word limited as a part of their name. Their working is controlled, checked and reviewed by Lok Sabha and the Comptroller. Auditor General of India conducts the annual audit of its final accounts. Some examples of statutory companies are State Bank of India, Life Insurance Corporation of India, Reserve Bank of India.
Define Registered company and on what basis they are categorised?
Registered company is the one which is registered under the Companies Act. These companies are categorised on the basis of liability and number of members.
On the basis of liability companies can be categorised in the following three categories:
Company limited by shares.
Company limited by guarantee.
On the basis of number of members companies can be of two types:
Define subsidiary company.
A company is a subsidiary of a holding company, if a holding company controls the majority composition of its board of directors, having an object to control the management of the subsidiary or that other company that is the holding company holds the majority of its shares or the holding company’s subsidiary has its own subsidiary, it become the subsidiary of the first mentioned company on the first holding company.
What are key differences between a partnership firm and a company?
Registration is not compulsory under Indian Partnership Act, 1932 whereas company comes into existence after the registration under Companies Act, 1956.
In the case of partnership firm the number of members must not exceed 20 in any business and minimum is 2 whereas in a private limited company minimum is 2 and maximum is 50 and in public limited company minimum 7 and no maximum limit.
Partnership firm do not have an independent legal position or status whereas company is independent legal status.
In partnership firm partners have unlimited liability whereas liability of shareholders is limited to the amount of the shares they hold.
In partnership firm transfer of interest is not transferable without consent of other partners whereas in a company shares are freely transferable without consent of other members.
Audit is not mandatory for a partnership firm whereas accounts of a company must be audited annually.
In a partnership firm stability of business is not affected by death or insolvency of partner whereas in the case of a company shareholder’s death or insolvency would not affect the constitution of the company.
What are the important stages involved in formation of a company?
Filing of documents: Following documents are required:
Memorandum of Association duly stamped, signed and witnessed;
Articles of Association duly stamped, signed and witnessed;
A list of persons who have consented to become directors of the company.
A written and duly signed consent of the directors agreeing to act as directors and to pay for qualification shares, if any.
A notice of the address of the registered office of the company.
A statutory declaration to the effect that all the requirements of the law for registration have been duly complied with. Payment of fees and issue of certificate of incorporation
When can a company commence its business?
Private companies or companies having no share capital can start their business immediately after they are incorporated. But public companies with share capital are required to obtain the necessary certificate from the registrar of companies to comment the business.
What is Ultravires Acts?
Ultravires is any act done outside the limits of memorandum of association. It is void and cannot be ratified even by the whole body of the shareholders whereas in the case of Articles of association the acts done by the company beyond the articles can be ratified by the shareholders if such acts are not beyond the memorandum and illegal.
What is Articles of Association and Memorandum of Association?
Articles of Association is the internal regulations of the company which help to govern the management of the internal affairs of the company and the conduct of its business. Memorandum of Association contains the constitution and the objects of the company for which it is formed. The company cannot exceed the powers conferred on it by its memorandum.
What is the difference in the main objects of Articles of Association and Memorandum of Association?
Memorandum controls external operations of the company whereas articles control internal operations of the company.
Memorandum are the conditions introduced for the benefits of creditors, buyers, debtors, sellers and outside public whereas articles govern the relationship between the company and the shareholders, members amongst the members. It is just like the partnership deed in a partnership.
How can Memorandum be altered?
Memorandum of association can be altered only under certain circumstance and in the manner provided in teh Companies Act. IT requires the sanction of shareholders and the Central Government or the Company law board or the Court as the case may be. The procedure of alteration or memorandum is more difficult.
Explain company limited by guarantee.
Companies where liability of members is always limited to a fixed amount agreed by its members to contribute towards the assets of the company is is known as a company limited by guarantee. In such companies the articles shall state the number of members with which the company is to be registered. Thus, the amount promised to pay by a member of a company limited by guarantee is called the guarantee
What are the different types of Capital?
Nominal Capital or Authorized Capital: is the total fee value of the shares which the company is authorized to issue. Issued Capital: is that part of authorized capital which is actually offered to the public for sale. Subscribed Capital: is that part of issued capital which is taken up and accepted by the public. Paid up Capital: is the amount of money actually paid by the subscribers or credited as so paid. Uncalled Capital: is the unpaid portion of the subscribed capital. Reserved Capital: is that part of the uncalled capital which can only be called up at the time of and for the purposes of winding up for the company.
Distinguish between prospectus and statement in lieu of prospectus.
Prospectus is prepared for filing with the registrar of companies and publicity whereas Statement in Lieu of Prospectus is prepared only for filing purpose.
Prospectus does publicity and has a selling approach whereas Statement in Lieu of Prospectus is prepared for fulfilling the legal formality of filing with the Registrar of the companies and has an informative approach.
Publication of prospectus is necessary for the companies for raising the capital from public whereas Statement in Lieu of Prospectus is suitable for companies which raise the capital from Known sources where shares are not offered to the public for subscription.
Prospectus is necessary when a compnay wants to raise the capital from the general public whereas Statement in Lieu of Prospectus is not meant for general public. It is to be filed with the registrar of the companies
ICSI Campus Placement Interview Question – General
Why do you want this company secretary job? Again, companies want to hire people who are passionate about the job, so you should have a great answer about why you want the position. (And if you don’t? You probably should apply elsewhere.) First, identify a couple of key factors that make the role a great fit for you (e.g., “I love customer support because I love the constant human interaction and the satisfaction that comes from helping someone solve a problem”), then share why you love the company (e.g., “I’ve always been passionate about education, and I think you guys are doing great things, so I want to be a part of it”).
What challenges are you looking for in this company secretary position? A typical interview question to determine what you are looking for your in next job, and whether you would be a good fit for the position being hired for, is “What challenges are you looking for in a position?” The best way to answer questions about the challenges you are seeking is to discuss how you would like to be able to effectively utilise your skills and experience if you were hired for the job. You can also mention that you are motivated by challenges, have the ability to effectively meet challenges, and have the flexibility and skills necessary to handle a challenging job. You can continue by describing specific examples of challenges you have met and goals you have achieved in the past.
What is your biggest weakness? No one likes to answer this question because it requires a very delicate balance. You simply can’t lie and say you don’t have one; you can’t trick the interviewer by offering up a personal weakness that is really a strength (“Sometimes, I work too much and don’t maintain a work-life balance.”); and you shouldn’t be so honest that you throw yourself under the bus (“I’m not a morning person so I’m working on getting to the office on time.”) Think of a small flaw like “I sometimes get sidetracked by small details”, “I am occasionally not as patient as I should be with subordinates or co-workers who do not understand my ideas”, or “I am still somewhat nervous and uncomfortable with my public-speaking skills and would like to give more presentations and talk in front of others or in meetings.”
Why do you want to work with us? More likely than not, the interviewer wishes to see how much you know about the company culture, and whether you can identify with the organization’s values and vision. Every organization has its strong points, and these are the ones that you should highlight in your answer. For example, if the company emphasizes on integrity with customers, then you mention that you would like to be in such a team because you yourself believe in integrity. It doesn’t have to be a lie. In the case that your values are not in line with the ones by the company, ask yourself if you would be happy working there. If you have no issue with that, go ahead. But if you are aware of the company culture and realize that there is some dilemma you might be facing, you ought to think twice. The best policy is to be honest with yourself, and be honest with the interviewer with what is it in the company culture that motivates you.
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ICSI Campus Placement Interview Question
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