Law is one of the papers in CA Final Law and is dynamic in nature. The subject as you must be aware of is split into two parts Corporate Laws for 70 marks & Part 2: Economic Laws for 30 marks.
When answering any exam paper there are something that are purely in your hands, these tiny but very crucial changes are what makes the difference from just clearing the paper to maybe even securing a rank. Have a look at some of the key points you should keep in mind while preparing for the CA Law exam.
Part I: Corporate Law comprises of the law and procedures under the Companies Act, 2013 and the Securities Laws covering significant provisions of Securities Contract (Regulation) Act, 1956 read with the Securities Contract (Regulation) Rules, 1957 and the Securities Exchange Board of India Act, 1992 read with SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015.
Part II: Economic Laws comprise of significant provisions of select economic laws namely, the Foreign Exchange Management Act, 1999, the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, the Prevention of Money Laundering Act, 2002, the Foreign Contribution Regulation Act, 2010, the Insolvency and Bankruptcy Code, 2016 and the Arbitration and Conciliation Act, 1996.
Tips and Tricks -
- Presentation is key when it comes to answering questions for the CA exams. Just having the right answer is not going to fetch you marks. Make sure you answer the questions in the sequence that is demanded by the ICAI.Don't draft your answers in big paragraphs, make it short ones by highlighting the important ones. You may use underlining
- While making sure that you present well is important, also be sure that you don’t just write the name and directly give the result of the case law and end it there. Make sure that you summarize the facts of the case and properly explain the situation of the case. Conclude the answer by giving the appropriate solution. Presenting it in the appropriate manner will help the examiner to evaluate the paper easily, which will in turn help to fetch you good scores.
- Quote the section number - ICAI has made it mandatory that you quote the section number along with the section number and name. Quote the sections only if you are very sure about it, quoting the wrong section for a correct answer would result in nothing!
- Keywords are key - It is not essential to mug up and write things in the exact same manner, but make sure that you include all the keywords. You may have a better way of writing but DO NOT replace keywords. They are what will fetch you those good scores.
- Help your answers with charts - Yes the course is very vast and you may feel like you have no time on your hands. Even under such circumstances keep in mind that you cannot clear the paper without proper revision. Practice having short notes and charts that will aid you with your revision, it will help you to revise the topics in a shorter time.
- Timely revision - It cannot be stressed how important proper revision is. All your efforts and struggle will all be a waste of time if you don’t revise. Set aside a day for every two weeks for you to revise everything you have covered. Also, keep 15 minutes at the end of the day for revision. Stop studying further at least 25days before the exams, all you need to relax and revise the topics that you have already covered
- Consider RTP - You must have practised multiple questions by now, but still, cover the questions given in the RTP. Focus on RTP and previous question papers along with suggested answers released by ICAI. Also, make sure you follow the pattern given in SM while presenting the answer.
- Make sure you practice the MTP - Once you are done going through the whole course, practice the questions from the MTP or the past attempt papers. Practising questions is the sure-shot way to improve your speed as well as to refine your answers. Make sure that you solve at least the question paper from the last 3 years as well as the MTP. Also, try to understand the pattern at which suggested answers are drafted. This will help you to present your answers as per the valuer’s expectations which will help you grabbing extra marks.
- Solving MCQ - When it comes to MCQ, always choose to select the right answer by eliminating the wrong answer. Don’t just immediately pounce and mark an answer you feel is right, make sure the other answers are wrong. In case you are confused between the two, you can then go for the more probable answer. This will increase your chances of getting the right answer.
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