class test

Ti
me–2hour s MockExam 1 MM 100mar
ks
Secti
onA
All50quest
ionsar
ecompul
sor
yandMUSTbeattempted

1.Arethefoll
owingstatementsregardi
ngt
heappointmentofacompanysecret
aryt
rue
orfalse? (2
marks)
Tr
ue Fal
se
a.Asol edi
rectorofapri
vatecompanycannotalsobe
thecompanysecr et
ary.
b.Al lcompaniesmustappoi ntacompanysecr
etary
.

2.Inthecont extofli
mitedcompanyfinance, whichofthef
ollowi
ngdescri
besthe
pri
ncipleofcapitalmaint
enance?
(2mar ks)
a.Capi t
al mustalwaysbeat,orabove,theamountseti ntheart
icl
esofassoci
ati
on.
b.Acompany ’
sordi
narysharesmaynev erbeissuedatapremium.
c. Creditorsshouldnotbepaidifthi
swoul dresul
tinareduct
ionofcapi
tal
.
d.Di videndsshouldnotbepai doutofcapi tal
.

3.On4Apr i
l20X4cade, whoisprofessionalsinger,signedanagr eementengagi ng
Malcolmt oactashi spersonal t
raineronhisf ort
hcomi ngtourorEur ope,Whichis
duetocommenceon5June20X4.On13May20X4cadewr otetoMal col
m
i
nforminghi mt hathewi l
lnolongerber equiringhisser vi
ces.
(2mar ks)
Whichst atementcor rect
lydescribesMal colm’sent i
tlementt ocommenceanact ion
forbreachofcont r
act?
a.Hei sNOTent it
ledt ocommenceanact i
onf orbreachofcont ractbecauseint
ent i
on
tocreatelegalrelat
ionsisnotpresumedi nt heagr eement .
b.Hei sent i
tledtocommenceanact ionforbreachofcont r
acton13May20X4.
c. HeisNOTent it
ledt ocommenceanact i
onf orbreachofcont ractbecauseCade
i
nformshi mt hathei snolongerrequiredbef orethecont ractcommences.
d.Hei sent i
tledtocommenceanact ionforbreachofcont r
actbutt hi
sact i
oncannot
commenceunt il5June20X4.

4.Inwhichoft hefol
l
owi ngci r
cumst ancesi
sani ndiv
idual’
sclaimforredundancy
paymentlikelyt
ober ejected?
(2mar ks)
a.Thecl aimantwasi ncont inuousempl oy
mentonl yforthreeyearsbeforebei
ng
mader edundant.
b.Thecl aimantleavest heor gani
sati
onswhennot ifi
edoft hepossibi
l
ityofbei
ng
mader edundant.
c. Theclaimantwaitedf orthreemont hsafterbei
ngmader edundantbeforemaki
ng
thi
sclaim.

, 5.Janiyahasbeenst ayingatahot el.Hercoathasbeenst olenf r
om herr oom.Jani yai
s
seekingcompensat i
onf rom thehot el butthehot elisr ely
ingonasi gnont hebackof
eachhot el r
oom doorwhi chreads.
“ThePr opriet
orswillnotbehel dr esponsiblef orarticleslostorst ol
en,unlesshanded
tothemanager essforsaf ecust ody.”
(2mar ks)
Willt
hehot elbeablet orelyont hesi gnasanexcl usionofl iabil
i
t y
,andf orwhat
reason?
a. No, becauseJani yawasnotgi v
ennot i
ceoft heex cl
usionclauseunt ilaftert
he
cont racthadbeenmade.
b.No, becauseanycl ausewhi chexcl udesl i
abil
ityf orlostorstolenitemsi s
automat i
cal
lyunfair.
c. Yes, becauseJani yawasadequat elyinfor
medoft hetermsoft hecont ract.
d.Yes, becausetheex cl
usioncl ausehasbeeni ncor poratedintothecont ract.

6.Inaccor
dancewi ththeMoneyLaunder i
ngRegul ati
ons2017whi choft
hef oll
owing
stat
ementsr egar
dingtherequir
ementstopr oduceariskassessment
isNOTcor r
ect ? (2marks)
a.I tmustbei nwrit
ing.
b.I tmusttakeintoaccountthefir
m’sproductsandtransacti
ons.
c. Itmustadoptthesamer igorousapproachregardl
essofsizeornatur
eoff ir
m.
d.I tmusttakeintoaccountthefir
m’scustomer sandgeographicl
ocati
ons.

7.InMay20X3,Emeli
a,GlennandArmani f
ormedanor di
narypar
tner
shipprovidi
ng
engi
neer
ingconsul
tancyser
vicest
oar ai
lwayconstr
ucti
onproj
ect,whichwasduet o
becomplet
edinMay20X5.Thepar tner
sdidnotdrawupapar tner
shi
pagr eement.

I
nMay20X4, Emel
iabecameill
andcouldnol
ongert
akeaf ull
parti
nthebusi
nessi
n
Januar
y20X5,Emel
iaindi
cat
edthatshewoul
dli
ketoleav
et hepart
ner
shi
p.

I
nFebruary20X5,I
twasannouncedthatt
her
ail
waypr
ojectwoul
dtakeaf
urt
hert
wo
monthstocomplet
e.I
nJune20X5, Emeli
adi
ed. (6
marks)

Task1 (2
marks)
Foll
owingi
tst
erminati
on,i
nwhator
derwi
llt
hepr
oceedsfr
om thereal
isat
ionofthe
assetsoft
hepar
tnershi
pbepai
d?
Fi
rst Second Thi
rd
Fourth