Practice management (LAS)
Results overview
Practice management LAS test -
Practice management licensed application standards test
You have scored 70%
This result can’t be used as part of your licence application and if this was your third attempt your licence application will be withdrawn. You have a good understanding of some aspects of practice management. However, we would suggest further learning in this area. You have a maximum of three attempts for this test and you’ll need to score 71% or more to pass the test and for it to be used as part of your licence application. You can retake the test within three months of when you’ve submitted your licence application. Note that each test won’t consist of the same questions. We strongly encourage you to review your results below and review the supporting resources in your AAT Lifelong Learning Portal to gain a greater understanding of practice management.
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Results breakdown
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Correct/
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Incorrect to see your answer and, if it was not correct, where you went wrong.
Data Protection |
| Question 1 :
The GDPR says that personal data shall be "processed in a manner that ensures appropriate security of the personal data, including protection against unauthorised or unlawful processing and against accidental loss, destruction or damage, using appropriate technical or organisational measures".
What should you do to prevent the personal data you hold being accidentally or deliberately compromised?
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Correct
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| Question 2 :
What is personal data?
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Partially
correct
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| Question 3 :
Which of the following are included in the seven key principles set out in the GDPR?
Select all that apply.
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Partially
correct
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| Question 4 :
If the ICO need to be notified about a personal data breach, when should this be reported?
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Correct
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| Question 5 :
According to the GDPR, for how long can personal data be stored?
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Correct
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Clients' Monies |
| Question 6 :
Does the following information need to be included in a firm's clients' money records?
Details of all unclaimed monies withdrawn from the client bank account, including the name and contact details of the recipient registered charity of those monies.
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Correct
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| Question 7 :
When must clients' money received by a firm be paid into a client bank account or to the client?
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Correct
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| Question 8 :
How long must a firm preserve, and keep available for inspection, all records kept in accordance with AAT's Clients' Money Policy?
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Correct
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| Question 9 :
Does the following information needs to be included in a firm's clients' money records?
Details of all transactions on each client’s ledger account which will readily identify the balance held for each client and which will reconcile to the total of clients' money held in the client bank accounts.
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Correct
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| Question 10 :
Can a firm withdraw money from the client bank account for, or towards, payment of fees payable by the client to the firm if the precise amount has been agreed by the client or has been finally determined by a court or arbiter?
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Incorrect
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Client care |
| Question 11 :
AAT's Client Care Policy sets out the minimum information that a letter of engagement must contain. Which of the following are included in the list of requirements set out in the policy?
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Correct
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| Question 12 :
According to AAT's CPD Policy, in what areas must licensed members regularly review their CPD and keep records of their CPD activities?
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Partially
correct
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| Question 13 :
AAT's Professional Indemnity Insurance Policy requires all licensed members to have professional indemnity insurance in place. But which of the following conditions must be met?
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Correct
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| Question 14 :
AAT's Continuity of Practice Policy sets out adequate continuity of practice arrangements to ensure the professional needs of clients will be dealt with in the event of a licensed member becoming incapacitated through various circumstances.
Which of the following would be a suitable continuity of practice for a licensed member?
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Correct
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| Question 15 :
What information must firms make available to clients in accordance with the Provision of Services Regulations 2009?
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Correct
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Client care |
| Question 16 :
When a firm accepts a client, and throughout the term of the engagement, which of the following should it be able to demonstrate?
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Partially
correct
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| Question 17 :
A member may be exposed to situations that could impair their objectivity, such as receipt of commissions or reward.
Fill in the blanks. A member must always disclose to their _______________ if they are receiving _______________, incentives or any other advantage and the _______________ (or the basis on which the amount is calculated) they receive from a third party relating to the matter upon which they are advising their client. They must also follow their professional body’s rules on _______________ of and accounting for commission.
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Correct
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| Question 18 :
Before taking on a new client, a member must take reasonable steps to understand whether any reasons exist as to why they should not take them on.
Is the following a risk that, unless mitigated against, would mean a member should decline an engagement?
A conflict of interest with existing clients.
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Correct
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| Question 19 :
Any continuity of practice arrangements must be:
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Correct
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| Question 20 :
For firms where the gross fee income exceeds £400,000, what is the maximum level of cover required under AAT's Professional Indemnity Insurance Policy?
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Partially
correct
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