Multiple Choice – NBC Institute

BL – Nov 2013 – L1 – SA – Q20 – Law of Trusts

Explains why a trustee is typically not remunerated.

Question

A Trustee is not paid a remuneration because

A. He is a friend of the testator
B. He is a volunteer
C. He is a rich man
D. His reward is in the hereafter
E. He has no need of money

Answer

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Tags: Multiple Choice, Remuneration, Trustee, Trusts
Level: Level 1

Topic: Law of Trusts
Series: NOV 2013

BL – Nov 2013 – L1 – SA – Q19 – Law Relating to Banking

Identifies the condition under which a debtor is considered bankrupt.

Question

A debtor is said to be bankrupt when

A. A creditor obtains a final court order against him
B. A court declares that he is solvent
C. He pays his debts
D. He promises to pay his creditors
E. The creditors do not trust him

Answer

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Tags: Bankruptcy, Creditor's Rights, Insolvency Law, Multiple Choice
Level: Level 1

Topic: Law Relating to Banking
Series: NOV 2013

BL – Nov 2013 – L1 – SA – Q18 – Negotiable Instruments

Identifies the feature that makes a cheque generally crossed.

Question

A cheque is said to be generally crossed if it

A. Bears two parallel lines across its face
B. Is not dated
C. Is not signed
D. Is not stamped
E. Has two postage stamps on it

Answer

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Tags: Banking Law, Cheques, General Crossing, Multiple Choice
Level: Level 1

Topic: Negotiable Instruments
Series: NOV 2013

BL – Nov 2013 – L1 – SA – Q17 – Negotiable Instruments

Identifies a bill lacking in material particulars.

Question

A bill lacking in some material particular is known as

A. Inland bill
B. Incomplete or inchoate bill
C. Promissory bill
D. Esoteric bill
E. Accelerated bill

Answer

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Tags: Bills of Exchange, Multiple Choice, Negotiable Instruments
Level: Level 1

Topic: Negotiable Instruments
Series: NOV 2013

BL – Nov 2013 – L1 – SA – Q16 – Partnership Law

Identifies the impact of a partner's death on a partnership.

Question

The death of a partner leads to

A. Amendment of the partnership register
B. Change in the partnership business
C. Sharing of profit
D. Dissolution of partnership
E. Sharing of business information

Answer

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Tags: Dissolution, Multiple Choice, Partner's Death, Partnership
Level: Level 1

Topic: Partnership Law
Series: NOV 2013

BL – Nov 2013 – L1 – SA – Q15 – Partnership Law

Identifies the membership limit for a partnership in accountancy practice.

Question

The membership of a Partnership for the practice of accountancy is

A. 20
B. 30
C. 40
D. 50
E. Unlimited

Answer

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Tags: Accountancy Practice, Membership Limit, Multiple Choice, Partnership Law
Level: Level 1

Topic: Partnership Law
Series: NOV 2013

BL – Nov 2013 – L1 – SA – Q14 – Company Law

Identifies the time frame within which a public company must hold its statutory meeting after incorporation.

Question

On incorporation, a public company must hold its Statutory meeting within

A. 6 months
B. 5 months
C. 3 months
D. 2 months
E. 1 month

Answer

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Tags: Company Law, Incorporation, Multiple Choice, Statutory Meeting
Level: Level 1

Topic: Company Law
Series: NOV 2013

BL – Nov 2013 – L1 – SA – Q13 – Company Law

Identifies grounds for the disqualification of a company director.

Question

The following disqualifies a Director of a company EXCEPT

A. Insanity
B. Conviction
C. Bankruptcy
D. Being a principal partner
E. Court order

Answer

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Tags: Company Law, Director Disqualification, Multiple Choice
Level: Level 1

Topic: Company Law
Series: NOV 2013

BL – Nov 2013 – L1 – SA – Q12 – Company Law

Identifies the minimum liability of members in a company limited by guarantee during winding up

Question

The liability of the members of a company limited by guarantee to contribute to the assets, in the event of its being wound up, shall not be less than

A. N 10,000
B. N 20,000
C. N 30,000
D. N 40,000
E. N 50,000

Answer

Find Related Questions by Tags, levels, etc.

Tags: Company Law, Guarantee Companies, Liability, Multiple Choice
Level: Level 1

Topic: Company Law
Series: NOV 2013

BL – Nov 2013 – L1 – SA – Q11 – Company Law

Examines restrictions on the transfer of share interests in a company.

Question

The right to transfer an interest in the share of a company can be limited by the

A. Memorandum of Association
B. Articles of Association
C. Policy Manual of the company
D. Company’s directors
E. Secretary of the company

Answer

Find Related Questions by Tags, levels, etc.

Tags: Articles of Association, Company Law, Multiple Choice, Shares
Level: Level 1

Topic: Company Law
Series: NOV 2013

BL – Nov 2013 – L1 – SA – Q20 – Law of Trusts

Explains why a trustee is typically not remunerated.

Question

A Trustee is not paid a remuneration because

A. He is a friend of the testator
B. He is a volunteer
C. He is a rich man
D. His reward is in the hereafter
E. He has no need of money

Answer

Find Related Questions by Tags, levels, etc.

Tags: Multiple Choice, Remuneration, Trustee, Trusts
Level: Level 1

Topic: Law of Trusts
Series: NOV 2013

BL – Nov 2013 – L1 – SA – Q19 – Law Relating to Banking

Identifies the condition under which a debtor is considered bankrupt.

Question

A debtor is said to be bankrupt when

A. A creditor obtains a final court order against him
B. A court declares that he is solvent
C. He pays his debts
D. He promises to pay his creditors
E. The creditors do not trust him

Answer

Find Related Questions by Tags, levels, etc.

Tags: Bankruptcy, Creditor's Rights, Insolvency Law, Multiple Choice
Level: Level 1

Topic: Law Relating to Banking
Series: NOV 2013

BL – Nov 2013 – L1 – SA – Q18 – Negotiable Instruments

Identifies the feature that makes a cheque generally crossed.

Question

A cheque is said to be generally crossed if it

A. Bears two parallel lines across its face
B. Is not dated
C. Is not signed
D. Is not stamped
E. Has two postage stamps on it

Answer

Find Related Questions by Tags, levels, etc.

Tags: Banking Law, Cheques, General Crossing, Multiple Choice
Level: Level 1

Topic: Negotiable Instruments
Series: NOV 2013

BL – Nov 2013 – L1 – SA – Q17 – Negotiable Instruments

Identifies a bill lacking in material particulars.

Question

A bill lacking in some material particular is known as

A. Inland bill
B. Incomplete or inchoate bill
C. Promissory bill
D. Esoteric bill
E. Accelerated bill

Answer

Find Related Questions by Tags, levels, etc.

Tags: Bills of Exchange, Multiple Choice, Negotiable Instruments
Level: Level 1

Topic: Negotiable Instruments
Series: NOV 2013

BL – Nov 2013 – L1 – SA – Q16 – Partnership Law

Identifies the impact of a partner's death on a partnership.

Question

The death of a partner leads to

A. Amendment of the partnership register
B. Change in the partnership business
C. Sharing of profit
D. Dissolution of partnership
E. Sharing of business information

Answer

Find Related Questions by Tags, levels, etc.

Tags: Dissolution, Multiple Choice, Partner's Death, Partnership
Level: Level 1

Topic: Partnership Law
Series: NOV 2013

BL – Nov 2013 – L1 – SA – Q15 – Partnership Law

Identifies the membership limit for a partnership in accountancy practice.

Question

The membership of a Partnership for the practice of accountancy is

A. 20
B. 30
C. 40
D. 50
E. Unlimited

Answer

Find Related Questions by Tags, levels, etc.

Tags: Accountancy Practice, Membership Limit, Multiple Choice, Partnership Law
Level: Level 1

Topic: Partnership Law
Series: NOV 2013

BL – Nov 2013 – L1 – SA – Q14 – Company Law

Identifies the time frame within which a public company must hold its statutory meeting after incorporation.

Question

On incorporation, a public company must hold its Statutory meeting within

A. 6 months
B. 5 months
C. 3 months
D. 2 months
E. 1 month

Answer

Find Related Questions by Tags, levels, etc.

Tags: Company Law, Incorporation, Multiple Choice, Statutory Meeting
Level: Level 1

Topic: Company Law
Series: NOV 2013

BL – Nov 2013 – L1 – SA – Q13 – Company Law

Identifies grounds for the disqualification of a company director.

Question

The following disqualifies a Director of a company EXCEPT

A. Insanity
B. Conviction
C. Bankruptcy
D. Being a principal partner
E. Court order

Answer

Find Related Questions by Tags, levels, etc.

Tags: Company Law, Director Disqualification, Multiple Choice
Level: Level 1

Topic: Company Law
Series: NOV 2013

BL – Nov 2013 – L1 – SA – Q12 – Company Law

Identifies the minimum liability of members in a company limited by guarantee during winding up

Question

The liability of the members of a company limited by guarantee to contribute to the assets, in the event of its being wound up, shall not be less than

A. N 10,000
B. N 20,000
C. N 30,000
D. N 40,000
E. N 50,000

Answer

Find Related Questions by Tags, levels, etc.

Tags: Company Law, Guarantee Companies, Liability, Multiple Choice
Level: Level 1

Topic: Company Law
Series: NOV 2013

BL – Nov 2013 – L1 – SA – Q11 – Company Law

Examines restrictions on the transfer of share interests in a company.

Question

The right to transfer an interest in the share of a company can be limited by the

A. Memorandum of Association
B. Articles of Association
C. Policy Manual of the company
D. Company’s directors
E. Secretary of the company

Answer

Find Related Questions by Tags, levels, etc.

Tags: Articles of Association, Company Law, Multiple Choice, Shares
Level: Level 1

Topic: Company Law
Series: NOV 2013

Question Tag: Multiple Choice

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BL – Nov 2013 – L1 – SA – Q20 – Law of Trusts

Explains why a trustee is typically not remunerated.

You're reporting an error for "BL – Nov 2013 – L1 – SA – Q20 – Law of Trusts"

BL – Nov 2013 – L1 – SA – Q19 – Law Relating to Banking

Identifies the condition under which a debtor is considered bankrupt.

You're reporting an error for "BL – Nov 2013 – L1 – SA – Q19 – Law Relating to Banking"

BL – Nov 2013 – L1 – SA – Q18 – Negotiable Instruments

Identifies the feature that makes a cheque generally crossed.

You're reporting an error for "BL – Nov 2013 – L1 – SA – Q18 – Negotiable Instruments"

BL – Nov 2013 – L1 – SA – Q17 – Negotiable Instruments

Identifies a bill lacking in material particulars.

You're reporting an error for "BL – Nov 2013 – L1 – SA – Q17 – Negotiable Instruments"

BL – Nov 2013 – L1 – SA – Q16 – Partnership Law

Identifies the impact of a partner's death on a partnership.

You're reporting an error for "BL – Nov 2013 – L1 – SA – Q16 – Partnership Law"

BL – Nov 2013 – L1 – SA – Q15 – Partnership Law

Identifies the membership limit for a partnership in accountancy practice.

You're reporting an error for "BL – Nov 2013 – L1 – SA – Q15 – Partnership Law"

BL – Nov 2013 – L1 – SA – Q14 – Company Law

Identifies the time frame within which a public company must hold its statutory meeting after incorporation.

You're reporting an error for "BL – Nov 2013 – L1 – SA – Q14 – Company Law"

BL – Nov 2013 – L1 – SA – Q13 – Company Law

Identifies grounds for the disqualification of a company director.

You're reporting an error for "BL – Nov 2013 – L1 – SA – Q13 – Company Law"

BL – Nov 2013 – L1 – SA – Q12 – Company Law

Identifies the minimum liability of members in a company limited by guarantee during winding up

You're reporting an error for "BL – Nov 2013 – L1 – SA – Q12 – Company Law"

BL – Nov 2013 – L1 – SA – Q11 – Company Law

Examines restrictions on the transfer of share interests in a company.

You're reporting an error for "BL – Nov 2013 – L1 – SA – Q11 – Company Law"

BL – Nov 2013 – L1 – SA – Q20 – Law of Trusts

Explains why a trustee is typically not remunerated.

You're reporting an error for "BL – Nov 2013 – L1 – SA – Q20 – Law of Trusts"

BL – Nov 2013 – L1 – SA – Q19 – Law Relating to Banking

Identifies the condition under which a debtor is considered bankrupt.

You're reporting an error for "BL – Nov 2013 – L1 – SA – Q19 – Law Relating to Banking"

BL – Nov 2013 – L1 – SA – Q18 – Negotiable Instruments

Identifies the feature that makes a cheque generally crossed.

You're reporting an error for "BL – Nov 2013 – L1 – SA – Q18 – Negotiable Instruments"

BL – Nov 2013 – L1 – SA – Q17 – Negotiable Instruments

Identifies a bill lacking in material particulars.

You're reporting an error for "BL – Nov 2013 – L1 – SA – Q17 – Negotiable Instruments"

BL – Nov 2013 – L1 – SA – Q16 – Partnership Law

Identifies the impact of a partner's death on a partnership.

You're reporting an error for "BL – Nov 2013 – L1 – SA – Q16 – Partnership Law"

BL – Nov 2013 – L1 – SA – Q15 – Partnership Law

Identifies the membership limit for a partnership in accountancy practice.

You're reporting an error for "BL – Nov 2013 – L1 – SA – Q15 – Partnership Law"

BL – Nov 2013 – L1 – SA – Q14 – Company Law

Identifies the time frame within which a public company must hold its statutory meeting after incorporation.

You're reporting an error for "BL – Nov 2013 – L1 – SA – Q14 – Company Law"

BL – Nov 2013 – L1 – SA – Q13 – Company Law

Identifies grounds for the disqualification of a company director.

You're reporting an error for "BL – Nov 2013 – L1 – SA – Q13 – Company Law"

BL – Nov 2013 – L1 – SA – Q12 – Company Law

Identifies the minimum liability of members in a company limited by guarantee during winding up

You're reporting an error for "BL – Nov 2013 – L1 – SA – Q12 – Company Law"

BL – Nov 2013 – L1 – SA – Q11 – Company Law

Examines restrictions on the transfer of share interests in a company.

You're reporting an error for "BL – Nov 2013 – L1 – SA – Q11 – Company Law"

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