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Guide for Business Law and Practice LPC

Quiz Business Law and Practice LPC

10/425 Questions|Updated on 2024/06/11
Free Test
/ 10

Quiz

1/10
Competition law
What is the maximum fine that can be imposed on companies for breaching competition law?
Select the answer
1 correct answer
A.
10% of the company's annual worldwide turnover
B.
15% of the company's annual worldwide turnover
C.
20% of the company's annual worldwide turnover
D.
25% of the company's annual worldwide turnover

Quiz

2/10
Choice of business medium
Which of the following is a disadvantage of forming a limited liability partnership (LLP)?
Select the answer
1 correct answer
A.
Limited liability for all partners
B.
Increased administrative requirements
C.
Ability to raise capital through sale of shares
D.
Ability to offer tax benefits to partners

Quiz

3/10
Company decision making
In a private company, who has the power to make decisions on behalf of the company?
Select the answer
1 correct answer
A.
Directors
B.
Shareholders
C.
Both directors and shareholders
D.
Company secretary

Quiz

4/10
Company insolvency and administration
What is the role of an administrator in a company insolvency situation?
Select the answer
1 correct answer
A.
To liquidate the company assets
B.
To oversee the management of the company and try to save it
C.
To declare the company bankrupt
D.
To distribute the company's debts among creditors

Quiz

5/10
Consumer protection law
Under which law is it illegal for businesses to engage in deceptive practices that mislead consumers?
Select the answer
1 correct answer
A.
Consumer Credit Act 1974
B.
Consumer Protection from Unfair Trading Regulations 2008
C.
Sale of Goods Act 1979
D.
Unfair Contract Terms Act 1977

Quiz

6/10
Data protection and privacy law
What is the purpose of the General Data Protection Regulation (GDPR)?
Select the answer
1 correct answer
A.
To provide a uniform data protection law across the European Union
B.
To provide a uniform data protection law across the United States
C.
To provide a uniform data protection law across the Asia-Pacific region
D.
To provide a uniform data protection law across the Middle East

Quiz

7/10
Debt and equity finance
What is the difference between debt finance and equity finance?
Select the answer
1 correct answer
A.
Debt finance involves obtaining funds by selling shares in the company, whereas equity finance involves borrowing money.
B.
Debt finance involves borrowing money that must be repaid with interest, whereas equity finance involves selling shares in the company.
C.
Debt finance involves selling shares in the company, whereas equity finance involves borrowing money that must be repaid with interest.
D.
Debt finance and equity finance are the same thing.

Quiz

8/10
Directors duties and liabilities
What is the purpose of the Companies Act 2006?
Select the answer
1 correct answer
A.
To protect directors from liabilities
B.
To regulate the conduct of directors and their duties towards the company and its shareholders
C.
To provide tax exemptions for company directors
D.
To allow directors to make decisions without oversight from shareholders

Quiz

9/10
Employment law
What is the minimum notice period an employer must give to an employee who has been working for more than two years, but less than 12 years?
Select the answer
1 correct answer
A.
One week
B.
Two weeks
C.
One month
D.
Three months

Quiz

10/10
Incorporation and registration of a company
What is the minimum number of members needed to register a private limited company in the UK?
Select the answer
1 correct answer
A.
One member
B.
Two members
C.
Three members
D.
Four members
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Info quiz:

  • Quiz name:Business Law and Practice LPC
  • Total number of questions:425
  • Number of questions for the test:75
  • Pass score:50%
  • Number of topics:14 Topics
Study topics:Number of questions:
  • Choice of business medium:30 Questions
  • Company decision making:30 Questions
  • Company insolvency and administration:30 Questions
  • Competition law:36 Questions
  • Consumer protection law:25 Questions
  • Data protection and privacy law:30 Questions
  • Debt and equity finance:30 Questions
  • Directors duties and liabilities:30 Questions
  • Employment law:30 Questions
  • Incorporation and registration of a company:30 Questions
  • Partnership law and dissolution:34 Questions
  • Professional conduct and ethics:30 Questions
  • Share capital and dividends:30 Questions
  • Tax law and business accounts:30 Questions

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