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Foundation level · Corporate and Business Law

Corporate and Business Law · May 2017

Every objective and theory question in this paper, and the topic notes to revise each one.

6 questions1 objective5 theory18 topics to revise
Source: ICAN Pathfinder, Foundation Level Examination, Corporate and Business Law, May 2017

May 2017 diet

1 objective and 5 theory
1 objective5 theory39 theory marks set
No.SectionMarksCovers
Q220From the Business Law paper set under the previous syllabus. Part (a) asks about timing and conduct of meetings, incl...
Q36The role of the SEC in appointing an auditor (2 marks), and three matters the audit of Kunte Plc must cover (6 marks)...
Q43State three types of e-contract. Revise the types of e-contract.
Q56Kitanga Bank Plc plans to distribute all its profits as dividends. Advise on the reserve fund (30% or 15%, penalty ₦5...
Q64Two ways of creating a private trust. Revise private trusts.

Objective questions Section A

5
Objective question 5Section A
  • Which company may not appoint a secretary, and the secretary of a public company. Revise appointment and qualifications.

The full wording of this question has not been added yet. This summary shows what it tests and where to revise it.
Source: ICAN Pathfinder, Foundation Level Examination, Corporate and Business Law, May 2017, Question 5

Theory questions Written questions

2
Theory question 2Written paper
20 marks
  • From the Business Law paper set under the previous syllabus. Part (a) asks about timing and conduct of meetings, including the first AGM. Revise the timing table and worked figures.

  • Two cases of capital reduction permitted under CAMA (2 marks) and two purposes of a reduction (4 marks). Revise the reduction section.

The full wording of this question has not been added yet. This summary shows what it tests and where to revise it.
Source: ICAN Pathfinder, Foundation Level Examination, Corporate and Business Law, May 2017, Question 2
3
Theory question 3Written paper
6 marks
  • The role of the SEC in appointing an auditor (2 marks), and three matters the audit of Kunte Plc must cover (6 marks). Revise SEC registration, the duties and worked problem 1.

  • Jaugernault Plc: the nature of the security and whether it is a mortgage or a pledge, and which item is not a test of insolvency. Revise worked problem 1.

The full wording of this question has not been added yet. This summary shows what it tests and where to revise it.
Source: ICAN Pathfinder, Foundation Level Examination, Corporate and Business Law, May 2017, Question 3
4
Theory question 4Written paper
3 marks
  • State three types of e-contract. Revise the types of e-contract.

  • Types of e-commerce contract. Covered in the topic on e-contracts. Start here with e-commerce and the law.

  • The accountant as an expert witness in a computer fraud case. Revise the roles of the accountant.

  • Distinguish an offence from ethics, and state four objectives of ethical codes. Revise ethics and ethical codes.

The full wording of this question has not been added yet. This summary shows what it tests and where to revise it.
Source: ICAN Pathfinder, Foundation Level Examination, Corporate and Business Law, May 2017, Question 4
5
Theory question 5Written paper
6 marks
  • Kitanga Bank Plc plans to distribute all its profits as dividends. Advise on the reserve fund (30% or 15%, penalty ₦500,000). Revise the bank section.

  • A bank planning to pay out all its profits as dividends: the reserve fund transfer. Revise the statutory duties of a licensed bank.

  • Three rights of an agent. Revise the six rights of an agent.

  • Whether Kalu is liable for the wrong advice of the acting manager, despite his instruction. Revise worked problem 1.

  • Conditions implied where goods are sold by sample. Revise implied terms.

  • Offer and acceptance in insurance: the proposal form, its completion, the premium, and an agent completing the form. Revise formation.

The full wording of this question has not been added yet. This summary shows what it tests and where to revise it.
Source: ICAN Pathfinder, Foundation Level Examination, Corporate and Business Law, May 2017, Question 5
6
Theory question 6Written paper
4 marks
  • Two ways of creating a private trust. Revise private trusts.

  • Parties to a bill, general acceptance, and order and bearer bills. Revise parties and the order and bearer comparison.

  • The condition for admitting a customer’s online transaction in evidence. This is dealt with in the topic on electronic evidence. Start here with formation online.

The full wording of this question has not been added yet. This summary shows what it tests and where to revise it.
Source: ICAN Pathfinder, Foundation Level Examination, Corporate and Business Law, May 2017, Question 6
Source and reference. These questions come from the Institute of Chartered Accountants of Nigeria (ICAN) Pathfinder for the Foundation Level Examination, Corporate and Business Law, May 2017. When you use them, please cite the source, for example: ICAN Pathfinder, Foundation Level Examination, Corporate and Business Law, May 2017. Each question carries its own reference and a button to copy it.