Optional Subject in Professional Programme of ICSI

 

First, I congratulate you in clearing executive level

When it comes to registration to professional programme, main hurdle you may face may be of selecting an optional subject which will aid you in your career growth as a CS/PCS (for some it may be about a scoring subject which may be used to clear third module). Whatever be the reason you will be required to select a subject.

Following are the optional subjects available in third module

1. Banking Law and Practice
2. Capital, Commodity and Money Market
3. Insurance Law and Practice
4. Intellectual Property Rights-Law and Practice
5. International Business -Laws and Practices.

Before getting into the main context, following are the main features of optional subject.

• Institute of Company Secretaries of India takes the lead among the professional institutions in launching open book examination. Open book examination allow students to make use of hardcopy materials like Study Material, Scanners, Bare Acts, Class Notes etc…while answering the questions.
• Any student can change their optional subject any time. (request for change in optional subject shall be given before submitting exam application form)
• Appearing on open book examination with the intention of simply writing as stated in study material (ie reading from the study material and writing in answer book simultaneously) may not serve purpose. Most of your time will be consumed for reading and then writing the same on your answer paper. Instead you should study the optional subject in advance like other subjects in professional level.

A brief analysis of optional subjects are given below

Banking Law and Practice –

Syllabus

Overview of Banking System, Regulatory Framework and Compliances, Legal Aspects of Banking Operations, Banking Related Laws, Banker – Customer Relations, Loans and Advances, Securities for Banker’s Loans, Financial Analysis of Banks, Financial System Contemporary and Emerging Issues: An Overview, International Banking Management, Electronic Banking and IT in Banks, Risk Management in Banks, Ethics and Corporate Governance in Banks.

Overview

Banking Law and Practice (BLP) examination questions covers both theoretical and practical questions. Practical questions will be based on analysis of financial statements of companies (like Ratio Analysis, Working Capital Management etc.).If you have good knowledge over such calculations/computations, you can easily score good marks.

Practical questions are almost similar to those required to be studied in Financial, Treasury and Forex Management (Paper V, Module II). Practical questions were asked in most of the exam sessions.

When it comes to theoretical questions, all of the questions asked were direct questions, which you can refer from your study material.

Capital, Commodity and Money Market

Syllabus

Economic Framework, Legal Framework, Financial Intermediaries Framework, Primary Markets, Secondary Markets, Capital Market Investment Institutions, Capital Market Instruments, Resource Mobilization through International Markets, Landmark Studies and Report of Committees on Capital Markets, Economics of Commodities Marketing, Commodities Market Operations, Introduction to Money Market.

Overview

Capital Commodity and Money Market (CCMM) is like an advanced paper of Capital Markets and Securities Laws (executive level paper). CCMM is found to be the most preferred optional subject by students.

CCMM examination questions cover both practical and theoretical questions. Theoretical question may be based on Share Valuation, accounting ratios etc. Most of the practical questions asked were almost similar to those required to be studied in Financial, Treasury and Forex Management (Paper V, Module II).

In June 2014 exam session, drafting an appeal to Securities Appellate Tribunal (SAT) based on a case study was asked for the first question which carry 50 marks. However, (to a great relief to students) in all other exam sessions first question were sub divided based on a case study.

Insurance Law and Practice

Syllabus

Understanding and Managing Risk, General Principles and Concepts of Insurance, Insurance Contract and Indian Market Conditions, Regulatory Environment – Specific Legislations , Regulatory Environment – General, International Regulatory Framework, Life Insurance – Practices, Procedures, Life Insurance & Pension Products, General Insurance – Practices and Procedures – Focus Underwriting, General Insurance – Practices and Procedures – Focus Claims, General Insurance Products, Ethics and Corporate Governance Framework for Insurance Companies.

Overview

Contents of Insurance Law and Practice (ILP) are developed in association with Insurance Institute of India, Mumbai. Those who want to gain specialized knowledge in Insurance sector can opt for this subject.

For most students, concepts and procedures described ILP may be new information as these were never described in detail in any of the subjects in executive level. ILP is basically a theoretical paper in which first question may be based on a case study carrying 50 marks.

Intellectual Property Rights – Law and Practice

Syllabus

Introduction to IPR, Patents, Patent Databases & Patent Information System, Preparation of Patent Documents, Process for Examination of Patent Application, Patent Infringement, Recent Developments in Patent System, Trademarks, Copyrights, Industrial Designs, Geographical Indications, Protection of Trade Secrets, Key Business Concerns in Commercializing Intellectual Property Rights, Management and Valuation of Intellectual Property.

Overview

Intellectual property Rights – Law and Practice (IPR) is a theoretical paper. Those who desire to gain specialized knowledge in IPR, particularly those who aims to do practice can opt for it. IPR sector offers good opportunities for Company Secretaries in Practice.

IPR laws were briefly described in Economic and Commercial laws subject in Executive level (Paper V, Module II), in professional level all these were described in detail. Further, it also covers case laws based on various IPR laws.

International Business – Laws and Practices

Syllabus

Introduction to International Business, International Business Environment, Multi National Enterprises (MNEs) and Foreign Direct Investment (FDI), Foreign Trade Policy and Procedures, International Trade and Regional Economic Integration, Institutional Environment, Anti-Dumping Duties, Subsidies and Countervailing Duties, Foreign Collaborations and Joint Ventures, Strategic Alliances, Logistics Management.

Overview

International Business – Laws and Practice (IBLP) is beneficial to those who desire to acquire specialized knowledge in International business, law, procedure and practices. Further, it may be an added advantage for those who aim to build their career in MNC’s. IBLP is a theoretical subject, with particular focus on international laws and regulations which govern cross country transactions/dealings.

Question pattern of optional subjects

Question pattern demands up-to-date knowledge of case laws, amendments, notifications etc.

Each question paper would contain six questions carrying 100 marks

• Question No.1 (usually it will be sub divided) will be of 50 marks based on case study ranging between 1800-2000 words.
• Question No.2 (usually it will be sub divided) will be of 30 marks based on study of regulatory framework related to the subject.
• Question No.3-6 will be of 5 marks each covering important topics of the syllabus.

For more info: ICSI

All the best for your professional programme and achieve it in first chance itself. Cheers!!

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