Solicitor Study guides, Class notes & Summaries
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SUMMARY SOLICITORS ACCOUNTS BLP MCQS PRACTICE TEST
- Exam (elaborations) • 20 pages • 2024
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Butterberry Limited is a company making yoghurts and other dairy products. It has been 
in existence for 12 years and has four shareholders who are also the four directors of 
the company. It has outgrown its existing premises and needs to move to a larger 
factory. Nick and Andi, two of the company's directors, negotiate the purchase of a new 
factory on the Wrexford Industrial Estate with Wrexford Development Corporation. Nick 
and Andi sign the contract and transfer document on behalf o...
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SUMMARY SOLICITOR ACCOUNTS EXAM REVIEW (QUESTIONS AND ANSWERS)
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What is the overarching objective? - CORRECT ANSWER-Rule 1.1 of the SRA 
Accounts Rules: "The purpose of these rules is to keep client money safe." 
What is the main way in which the Rules seek to achieve the overarching objective? - 
CORRECT ANSWER-Rule 1.2(1): By requiring the firm to keep other people's money 
separate from the firm's own money 
What is the fundamental rule concerning client money & office money? - CORRECT 
ANSWER-That these must be kept separate 
What is Rule 12? - CO...
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Louisiana State Insurance Laws (P&C Exam)Correct 100%
- Exam (elaborations) • 5 pages • 2023
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A ******* is a person required under this state's laws to be licensed to sell, solicit, or negotiate insurance. This includes all persons or business entities referred to as "insurance agent", "agent", "insurance broker", "broker", "insurance solicitor", "solicitor", or "surplus lines broker". - ANSWERSIndividual producer 
 
A person applying for a producer license must: - ANSWERS-atleast 18 years old 
-Reside, or maintain their place of business in LA 
-Not committed any act tha...
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CHAPTER 6-12 FOR MOCK MCQS SUMMARY SOLICITORS ACCOUNTS RETAKE EXAM
- Exam (elaborations) • 24 pages • 2024
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Inherent risk differs from detection risk in that inherent risk: 
A. arises from the misapplication of auditing procedures. 
B. may be assessed in either quantitative or non-quantitative terms. 
C. exists independently of the financial report audit. 
D. can be changed at the auditor's discretion. - CORRECT ANSWER-C 
Which of the following would not increase inherent risk? 
A. Introduction of a performance-based management compensation scheme to improve 
efficiency and effectiveness. 
B. Appoi...
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Solicitor Qualifying Exam (SQE) 1 - FLK: English Legal System - 205 Multiple Choice Questions & Answers
- Summary • 106 pages • 2023
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Is SQE1 feeling too bulky? Don't have time to revise? Master the English Legal System and prepare to pass the SQE1 with these Multiple Choice Questions & Answers. This comprehensive guide is crafted to enhance your understanding of the English legal system using a questions-and-answers approach. If you find yourself unable to answer certain questions, it indicates the need to focus on revising specific topics.
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SUMMARY SOLICITORS ACCOUNTS EXAM TEST (QUESTIONS AND ANSWERS) UPDATED
- Exam (elaborations) • 10 pages • 2024
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what system is used for recording solicitors accounts? - CORRECT ANSWER-double 
entry bookkeeping 
what are the two aspects of every financial transaction to be logged? - CORRECT 
ANSWER-Debit DR 
Credit CR 
what are the two aspects if the firm pays cash to buy premises? - CORRECT ANSWER1. firm has less cash 
2. firm has acquired an asset in the form of premises 
examples of what will go in the left/debit side column? - CORRECT ANSWER-expense 
incurred 
asset acquired/increased 
liability...
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SOLICITOR’S ACCOUNTS EXAM QUESTIONS AND CORRECT ANSWERS 2024/2025.
- Exam (elaborations) • 4 pages • 2024
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SOLICITOR’S ACCOUNTS EXAM 
QUESTIONS AND CORRECT 
ANSWERS 2024/2025. 
2 / 4 
1. What two options are available for dealing with OFFICE money received?: - 
17.1(a)(i) - pay into office account 
17.1(c) - pay into client account and transfer within 14 days 
2. If OFFICE money is received what two rules should immediately spring to mind for the basic position?: 
12.1(b) - double emphasise what the definition of OFFICE money is 
12.7(a-e) - some subsection showing the exact reason it's OFFICE mon...
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FLK2 MCQS SUMMARY SOLICITORS ACCOUNTS EXAM (ELABORATED QUESTIONS AND ANSWERS) LATEST
- Exam (elaborations) • 58 pages • 2024
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FLK2 MCQS SUMMARY SOLICITORS 
ACCOUNTS EXAM (ELABORATED 
QUESTIONS AND ANSWERS) LATEST 
The solicitor should pay the whole of the sum into client account and promptly transfer 
£800 to business account 
When there is a mixed payment of client money and non-client money, it must be paid 
into client account, and the non-client money transferred to business account. - 
CORRECT ANSWER-A solicitor acts for a residential buyer, and the transaction is 
nearing simultaneous exchange and completio...
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Solicitor Qualifying Exam (SQE) 1 - FLK: Comprehensive English Legal System Flowchart & Mindmap
- Summary • 39 pages • 2023
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Are you finding SQE1 notes too cumbersome and struggling to find time to create concise, easily digestible materials for the Legal System of England and Wales? Say goodbye to wordy and confusing notes. I've taken the time to condense the information into clear flowcharts and mindmap, making it easy for you to understand at a glance. Take these portable notes with you anywhere – cafes, trains – for quick refreshers. They're designed to help you pass SQE1 with minimal effort.
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SUMMARY SOLICITORS' ACCOUNTS MCQS PRACTICE EXAM TEST
- Exam (elaborations) • 8 pages • 2024
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You hold £500 on account of costs for the client. You pay a surveyor's fee of £200 + 
£40 for the client. The invoice is made out to you. Subsequently you send the clients a 
bill for £400 in professional charges. The client is registered for VAT. 
How do you send the VAT invoices? - CORRECT ANSWER-You will send the client 
one VAT invoice covering the VAT on both the survey and the profit costs. 
You are holding £600 on account of costs and have to pay a disbursement. 
Which is correct...
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