Legal Services

Question 1

what are the reserved legal activities

Answer 1

conduct of litigation
preparing court documents
administering an oath

Question 2

Can a person acting on their own behalf carry out legal activities?

Answer 2

Yes

Question 3

When does a freelance solicitor need professional indemnity insurance?

Answer 3

if they are carrying out a reserved legal activity

Question 4

What is a conditional fee agreement (if success)?

Answer 4

standard time costs + success fee expressed as a % of the standard time costs

Question 5

What is a conditional fee agreement (if no success)?

Answer 5

Solicitor is not entitled to any costs

Question 6

Max. success fee in a conditional fee agreement is

Answer 6

100%

Question 7

What is a damages based agreement (if success)?

Answer 7

Solicitor is entitled to a % of the client’s recovery
Defendant will pay the solicitor’s standard costs and disbursements during litigation

Question 8

What is a damages based agreement (if no success)?

Answer 8

solicitor gets nothing

Question 9

What is the max. % in a damages based agreement

Answer 9

50% in general
25% in PI cases

Question 10

What is third party funding (if success)?

Answer 10

third-party funder will recover an agreed fee paid out of the recovery

Question 11

What is third party funding (if no success)?

Answer 11

Third party funder is not entitled to recover anything

Question 12

What is after the event insurance?

Answer 12

insurance pays the disbursement of the client and the other party’s costs if the client loses

Question 13

What are the tests for a civil legal aid?

Answer 13

Financial needs test
Merits test - good prospects of success

Question 14

What is a merit’s test for civil legal aid?

Answer 14

Good prospects of success

Question 15

What are the tests for a criminal legal aid

Answer 15

means test
merits test - interest of justice

Question 16

What is a merit’s test for criminal legal aid

Answer 16

interest of justice

Question 17

Who is automatically qualified under the means test in criminal legal aid cases?

Answer 17

under 18
people receiving job seekers allowance or universal credit

Question 18

What is indirect discrimination under the Equality Act 2010

Answer 18

Conduct which appears neutral but negatively impacts those with a protected characteristic

Question 19

Direct discrimination defence is available if…

Answer 19

the discrimination is based on age or disability

Question 20

How can you justify direct discrimination in special exceptions?

Answer 20

the action must be proportionate means of achieving a legitimate aim

Question 21

What is the defence for the offence of acquisition, use, or possession

Answer 21

good faith
adequate consideration

Question 22

who receives suspicious activity reports?

Answer 22

Money Laundering Reporting Officer MLRO

OR

The National Crime Agency NCA

Question 23

What is a solicitors defence for not filling an SAR under POCA?

Answer 23

Lack of training

Question 24

Firms/solicitors must exercise due diligence in cases where the client proposes to enter a transaction amounting to …. or more

Answer 24

15,000 Euros

Question 25

How long must the firm keep the client’s due diligence records?

Answer 25

Five years after the end of the relationship

Question 26

A regulated activity under the Regulated Activities Order 2001 is

Answer 26

an activity that related to an specified investment carried on in the course of business

Question 27

Examples of regulated activities

Answer 27

Advising
Arranging
Managing
Buying/Selling
Safeguarding
ABAMS

Question 28

Examples of specified investments

Answer 28

Shares in a company
Pension Schemes
Insurance contracts
funeral plans
mortgage contracts
debentures

Question 29

Exceptions to the Regulated Activities Order 2001

Answer 29

Acting a a trustee or personal representative
Advising a client for the purchase or sale of control of a company
Introducing a client to an FCA approved financial advisor
Advising the estate on the merits of holding or selling specific company shares