Summary Revision Checklist

SQE 1 FLK Revision Checklist




Business Law and Practice
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,Unit 1 – Business Mediums

Subtopic Revision Practice SBAQs
Sole trader
Partnerships
Limited liability
partnerships
Private limited
companies
Public limited companies
Legal personality
Limited liability


Unit 2 – Partnerships and Income Tax

Subtopic Revision Practice SBAQs
Liability of partners
Partnership and LLP
agreements
Registration process
Who is liable to pay
income tax?
What is income tax
charged on?
How is income tax
calculated?
Liability under anti-
avoidance provisions


Unit 3 – Company Decision Making

Subtopic Revision Practice SBAQs
Key types of decisions



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, Company decision-
making - CNQRA
Legal Requirements
Shareholders’
resolutions
Written resolutions
Shareholders rights
Substantial Property
Transactions


Unit 4 – Shareholders and Directors

Subtopic Revision Practice SBAQs
Directors’ duties
Rights of shareholders –
derivative action
Shareholders rights
Appointment of directors
Remedies/Ratification
Personal liability of
directors
Restrictions on directors
Removal of directors


Unit 5 – Company Finance

Subtopic Revision Practice SBAQs
Funding options: debt
and equity
Types of security (fixed
and floating charges)
Distribution of profits
and gains
Financial records and

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