1|Page
BLP BUSINESS LAW + PRACTICE EXAM LATEST 2026 ACTUAL EXAM
WITH COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS
(100% VERIFIED ANSWERS) |ALREADY GRADED A+| ||PROFESSOR
VERIFIED|| ||BRANDNEW!!!||
What should be checked when assessing shareholder rights? -
ANSWER-The company's Articles and check if there are any
shareholders' agreements in place.
What does limited liability mean for shareholders? - ANSWER-
Liability is limited to the nominal value of their shares — if fully
paid, no further contribution is required on insolvency.
What does PSC stand for in UK company law? - ANSWER-
Person with Significant Control
What are the three main criteria for identifying a PSC? -
ANSWER-Owns more than 25% of shares or voting rights
Can appoint or remove a majority of directors
Exercises significant influence or control over the company
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What must every UK company maintain regarding PSCs? -
ANSWER-A PSC register, open to public inspection (ss 790A-
790ZG CA 2006).
What is the purpose of the PSC register? - ANSWER-o increase
transparency and help combat tax evasion, money laundering,
and terrorist financing.
What must be included in a company's annual confirmation
statement? - ANSWER-Confirmation of company details and
constitution
Confirmation that the company is used for a lawful purpose (per
ECCTA)
Updated PSC information if applicable
Why do companies need directors? - ANSWER-Because a
company is an artificial person and needs human agents to make
decisions and run operations.
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What are directors responsible for? - ANSWER-The day-to-day
management of the company.
What legal framework governs directors' conduct? - ANSWER-
Statute, common law principles of agency, and fiduciary duties
codified by the Companies Act 2006.
What is the collective term for all directors of a company? -
ANSWER-The board of directors (or simply 'the board').
Can directors make all decisions for the company? - ANSWER-No
— some decisions, like changes to the Articles (s 21 CA 2006),
are reserved for shareholders.
What is the minimum number of directors required for a private
company? - ANSWER-One director (s 154 CA 2006).
What is the minimum number of directors required for a public
company? - ANSWER-Two directors (s 154 CA 2006).
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What does s 155 CA 2006 require regarding the nature of
directors? - ANSWER-At least one director must be a natural
person.
What is the UK Government's position on corporate directors? -
ANSWER-They will generally be prohibited and all directors have
to be individuals, with some exceptions — implementation date
not yet confirmed.
What is the minimum age to be a company director? - ANSWER-
16 years old (s 157 CA 2006).
Can a person be both a director and a shareholder? - ANSWER-
Yes — especially common in small private companies. They are
separate roles however.
Why is it important to distinguish between directors and
shareholders? - ANSWER-Because they have separate roles and
responsibilities.
BLP BUSINESS LAW + PRACTICE EXAM LATEST 2026 ACTUAL EXAM
WITH COMPLETE QUESTIONS AND CORRECT DETAILED ANSWERS
(100% VERIFIED ANSWERS) |ALREADY GRADED A+| ||PROFESSOR
VERIFIED|| ||BRANDNEW!!!||
What should be checked when assessing shareholder rights? -
ANSWER-The company's Articles and check if there are any
shareholders' agreements in place.
What does limited liability mean for shareholders? - ANSWER-
Liability is limited to the nominal value of their shares — if fully
paid, no further contribution is required on insolvency.
What does PSC stand for in UK company law? - ANSWER-
Person with Significant Control
What are the three main criteria for identifying a PSC? -
ANSWER-Owns more than 25% of shares or voting rights
Can appoint or remove a majority of directors
Exercises significant influence or control over the company
,2|Page
What must every UK company maintain regarding PSCs? -
ANSWER-A PSC register, open to public inspection (ss 790A-
790ZG CA 2006).
What is the purpose of the PSC register? - ANSWER-o increase
transparency and help combat tax evasion, money laundering,
and terrorist financing.
What must be included in a company's annual confirmation
statement? - ANSWER-Confirmation of company details and
constitution
Confirmation that the company is used for a lawful purpose (per
ECCTA)
Updated PSC information if applicable
Why do companies need directors? - ANSWER-Because a
company is an artificial person and needs human agents to make
decisions and run operations.
,3|Page
What are directors responsible for? - ANSWER-The day-to-day
management of the company.
What legal framework governs directors' conduct? - ANSWER-
Statute, common law principles of agency, and fiduciary duties
codified by the Companies Act 2006.
What is the collective term for all directors of a company? -
ANSWER-The board of directors (or simply 'the board').
Can directors make all decisions for the company? - ANSWER-No
— some decisions, like changes to the Articles (s 21 CA 2006),
are reserved for shareholders.
What is the minimum number of directors required for a private
company? - ANSWER-One director (s 154 CA 2006).
What is the minimum number of directors required for a public
company? - ANSWER-Two directors (s 154 CA 2006).
, 4|Page
What does s 155 CA 2006 require regarding the nature of
directors? - ANSWER-At least one director must be a natural
person.
What is the UK Government's position on corporate directors? -
ANSWER-They will generally be prohibited and all directors have
to be individuals, with some exceptions — implementation date
not yet confirmed.
What is the minimum age to be a company director? - ANSWER-
16 years old (s 157 CA 2006).
Can a person be both a director and a shareholder? - ANSWER-
Yes — especially common in small private companies. They are
separate roles however.
Why is it important to distinguish between directors and
shareholders? - ANSWER-Because they have separate roles and
responsibilities.
