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Question 1

Question 2

Question 3

Question 4

Where money is received into office account for unpaid, but incurred professional disbursements when must it be transferred to client account?

Select One Answer

It is not necessary to transfer it until payment is made provided that interest is being earned and accounted for to the client The same working day following receipt The second working day following receipt At month end office and client account reconciliation

Next question

The current threshold for which old client ledger balances can be paid directly to a charity is what?

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£50 £250 £500 £1,000

Next question

Which of the following is a breach of the rules for client accounts?

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A single client account for the firm where the name of the firm & the word ‘ client’ are designated but without any reference to the client identity A high interest account with a 7 day notice period for withdrawals Holding your office account with a bank and your client account with a building society or vice versa when you undertake property work None of the above

Next question

If client money has been received in $US what do the SARs rules require you to do?

Select One Answer

Convert to £GBP Open a separate client account in $US Make a disclosure to the COFA None of the above

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