ICSI to begin Open Book Examination on trial basis from June 2014
The Institute of Company Secretaries of India (ICSI) is planning to launch OBE (Open Book Examination). For this, it will conduct trial based exam for five subjects Banking, Insurance, Intellectual Property Rights, International Business (all law and practice) and Capital and Commodity and Money market in June 2014 on a trial basis.
First the OBE will be conducted for five subjects only this June for trial and the responses will help the further decision. ICSI President R Sridharan announced the beginning of OBE in trial basis before rolling out the full OBE programme for all subjects.
The situation of open book exams is quite different as the students need to prepare better than the usual exams. It goes against the belief that open books will be helpful. Conversely OBE was not as easy as thought to be and students need to have widely read the subject before writing the examination
It would also inculcate and develop skills of creative thinking, problem solving and decision making among students, he said.
In OBE exams, the success largely depends on the candidate’s ability to understand the question, identify inherent issues and apply laws and principles applicable.
The institute had decided to introduce computer-based exam for its foundation students from Jun 2014 and examinees would continue to be assessed through multiple choice questions, he said.
ICSI was also contemplating revising the study material in the light of Companies Act 2013, Sridharan said.
He said ICSI had also decided to do away with the coaching completion certificate.
Job Prospectus: On job opportunities for company secretaries, he said there was no dearth of employment opportunities now and all are getting placed.
“If the Company Law Act 2013 comes into force… At least 98 sections are yet to be notified…The job opportunities will increase manifold, so also pay of company secretaries.”
Company secretaries should ensure that their firms comply with applicable secretarial standards, he added.