PPC2 Professional Responsibility Practice Questions - Law Society of Ireland Professional Practice Course 2 - Professional Responsibility Exam - PPC2 Professional Responsibility Practice Questions - Law Society of Ireland Professional Practice Course 2

Question 1

Under the Solicitors Accounts Regulations 2023, what is the required frequency for a solicitor to prepare balancing statements (bank reconciliations) comparing the client ledger with client bank accounts?

Every month Every three months Every six months Annually

Correct Answer:

Every three months

Question 2

What is the deadline for a solicitor to submit the annual Reporting Accountant's Report to the Law Society of Ireland after the end of their accounting period under the 2023 Regulations?

Within three months Within five months Within six months Within nine months

Correct Answer:

Within five months

Question 3

How are moneys received by a solicitor acting in their capacity as a personal representative of a deceased person's estate treated under the Solicitors Accounts Regulations 2023?

They are treated as office moneys and can be placed in the firm's office account. They are treated as controlled trust moneys and must be held in a separate trust account. They are explicitly included in the definition of 'client moneys' and must be held in a client account. They are excluded from the scope of the regulations entirely.

Correct Answer:

They are explicitly included in the definition of 'client moneys' and must be held in a client account.

Question 4

If a solicitor holds funds in their bank account for a client, but no legal services are being provided to that client, how are these funds classified under the 2023 Regulations?

They are classified as client moneys because they are held by the solicitor for the client. They do not constitute 'client moneys' under the regulations as no legal services are associated with them. They are classified as office moneys because the firm cannot legally act as a trustee. They are classified as controlled trust moneys automatically.

Correct Answer:

They do not constitute 'client moneys' under the regulations as no legal services are associated with them.

Question 5

What requirement is imposed on solicitors regarding dormant client balances (balances with no transactions) under the Solicitors Accounts Regulations 2023?

Dormant balances must be transferred to the office account after one year. A listing of client ledger balances outstanding for two years or more must be appended to the Reporting Accountant's Report, disclosing the reasons for the delay. All dormant balances must be paid directly to the Law Society immediately. Dormant balances are exempt from reporting requirements if they are under €500.

Correct Answer:

A listing of client ledger balances outstanding for two years or more must be appended to the Reporting Accountant's Report, disclosing the reasons for the delay.

Question 1

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Prepare with the PPC2 Professional Responsibility Practice Questions - Law Society of Ireland Professional Practice Course 2 - Professional Responsibility Exam practice quiz. This question bank includes 100 questions covering solicitor, client, regulations, solicitors, and legal. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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PPC2 Professional Responsibility Practice Questions - Law Society of Ireland Professional Practice Course 2 - Professional Responsibility Exam

This practice set contains 100 questions from the matching question bank and focuses on solicitor, client, regulations, solicitors, and legal. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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PPC2 Professional Responsibility Practice Questions - Law Society of Ireland Professional Practice Course 2 - Professional Responsibility Exam

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