CA Intermediate Corporate and Other Laws - The Foreign Exchange Management Act, 1999 MCQ tests

Chapter-wise practice tests for Chapter 15: The Foreign Exchange Management Act, 1999 (FEMA). Exhaustively tests Person Resident in India, Current vs Capital Account transactions, LRS limits, export repatriation, Authorized Persons, and penalties.

Tests here: 5 tests, 125 questions in all, 25 questions in 13 case scenarios in each test, 75 minutes and 50 marks each, no negative marking. After you submit you see your score, a chapter-wise and difficulty-wise breakdown, and an explanation for every question.

Law and standards used: Companies Act 2013 and relevant Rules, Limited Liability Partnership Act 2008, General Clauses Act 1897, and FEMA 1999 as in the ICAI Study Material for Paper 2 (August 2025 edition, amendments up to 31 July 2025).

Each test contains 25 questions (4 case scenarios plus standalone practical MCQs) totaling 50 marks in 75 minutes, strictly based on ICAI New Scheme case scenario patterns with 2 marks per question and no negative marking.

The questions follow the ICAI Study Material for CA Intermediate Paper 2 Corporate and Other Laws, fully aligned with the Companies Act 2013 and relevant Rules for the May 2027 examination attempt.

Yes. Practice mode gives immediate answers with detailed statutory citations and traps explained after every question. Exam mode simulates strict exam conditions with timer and issues a downloadable performance certificate upon submission.