SQE BLP 2 ACTUAL EXAM 2026/2027 PRACTICE QUESTIONS
AND STUDY GUIDE ALL COMPLETE ACCURATE EXAM
APPROVED QUESTIONS AND CORRECT DETAILED
SOLUTIONS WITH RATIONALES (100% CORRECT VERIFIED
ANSWERS) NEWEST UPDATED VERSION 2026 EDITION
|GUARANTEED
What is a lmited partnership and what restriction applies to limited
partners
hybrid between a partnership and a limited company formed
under the limited liablity partnership act
it is a seperate legal entity and all members benefit from limited
liability while also being able to participate in day to day
management
it is owned and managed by its memebrs and taxed in same way as
general partnership
,how is an LLP formed
BY filing an incorporation document LL IN01 with registrar of
companies at companies house and paying applicable fee
Once registered, the registrar issues a certificate of incorporation
LLP regulations provide a defualt contract for memebrs who have
not agreed to all or any of the terms of their partnership
What is the main practable differences between sole
traders/partnerships and companies/LLPs when it comes to
formalities and publicity
Sole traders and partnerships require no formaliites to set up and
only need to disclose the idenity of owner and an address for
service
companies and LLp require formal registration, subject to statuory
rules and must make a wide range of information publicly
available at companies house
What financing advantage do companies and LLPs have over Sole
traders and partnerships
Can offer floating charge as security to lenders, which is not
available to sole traders/partnerships
more attractive to lenders such as banks
,What dcuments must be submitted to companies to incorprate
company
FOrm IN01
memorandum of associate
applicable fee
applciation can be made online, by post or through companies house
software
What must a certificate of incorporation state
name and registered number fo company, date of incorporation, whther
it is limited or unlimited - if limited, by shares or guarantee, public or
private,
and wwhere registered office is england and wales, etc
What is the legal effect of a certificate of incorporation
conclusive evidence that requirements of CA 2006
satsified company comes into existence when certificate
is issued
Within what timeframe must a newly incorporated company register
with HMRC for corporation tax
within three motnhs of starting to do buisness
, What are the naming requiremnts for a private limited companies
End with limited or Ltd
cannot be same name as existing company
certain names prohibited
sensitive words require approval from secretary of state
companies house can also reject names under the ECCTA 2023 if
connexted to fraud, give false impression of government
connection, etc
What can companies house do if company's name is objectionable or
misleading
under EECTA - reject applcaition
directa company to change name. if the company fails to change its
name within 28 days of being directed to do so, it commits an
offence
What is a trading name and does it need to be registered at
incorporation
trading name is a name under which a company trades that differs from
its registered name
des not need to be registered in form IN01 and can be decided after
incorporation
AND STUDY GUIDE ALL COMPLETE ACCURATE EXAM
APPROVED QUESTIONS AND CORRECT DETAILED
SOLUTIONS WITH RATIONALES (100% CORRECT VERIFIED
ANSWERS) NEWEST UPDATED VERSION 2026 EDITION
|GUARANTEED
What is a lmited partnership and what restriction applies to limited
partners
hybrid between a partnership and a limited company formed
under the limited liablity partnership act
it is a seperate legal entity and all members benefit from limited
liability while also being able to participate in day to day
management
it is owned and managed by its memebrs and taxed in same way as
general partnership
,how is an LLP formed
BY filing an incorporation document LL IN01 with registrar of
companies at companies house and paying applicable fee
Once registered, the registrar issues a certificate of incorporation
LLP regulations provide a defualt contract for memebrs who have
not agreed to all or any of the terms of their partnership
What is the main practable differences between sole
traders/partnerships and companies/LLPs when it comes to
formalities and publicity
Sole traders and partnerships require no formaliites to set up and
only need to disclose the idenity of owner and an address for
service
companies and LLp require formal registration, subject to statuory
rules and must make a wide range of information publicly
available at companies house
What financing advantage do companies and LLPs have over Sole
traders and partnerships
Can offer floating charge as security to lenders, which is not
available to sole traders/partnerships
more attractive to lenders such as banks
,What dcuments must be submitted to companies to incorprate
company
FOrm IN01
memorandum of associate
applicable fee
applciation can be made online, by post or through companies house
software
What must a certificate of incorporation state
name and registered number fo company, date of incorporation, whther
it is limited or unlimited - if limited, by shares or guarantee, public or
private,
and wwhere registered office is england and wales, etc
What is the legal effect of a certificate of incorporation
conclusive evidence that requirements of CA 2006
satsified company comes into existence when certificate
is issued
Within what timeframe must a newly incorporated company register
with HMRC for corporation tax
within three motnhs of starting to do buisness
, What are the naming requiremnts for a private limited companies
End with limited or Ltd
cannot be same name as existing company
certain names prohibited
sensitive words require approval from secretary of state
companies house can also reject names under the ECCTA 2023 if
connexted to fraud, give false impression of government
connection, etc
What can companies house do if company's name is objectionable or
misleading
under EECTA - reject applcaition
directa company to change name. if the company fails to change its
name within 28 days of being directed to do so, it commits an
offence
What is a trading name and does it need to be registered at
incorporation
trading name is a name under which a company trades that differs from
its registered name
des not need to be registered in form IN01 and can be decided after
incorporation
