Practice management (LAS)
Results overview
Practice management LAS test -
Practice management licensed application standards test
You have scored 30%
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can’t be used as part of your licence application and if this was your third attempt your licence application will be withdrawn.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 number of gaps in your knowledge of practice management. 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 Lifelong Learning Portal to gain a greater understanding of practice management.
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Results breakdown
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Data Protection |
| Question 1 :
Which of the following are rights for individuals under the GDPR?
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Partially
correct
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| Question 2 :
A personal data breach means a breach of security leading to the accidental or unlawful destruction, loss, alteration, unauthorised disclosure of, or access to, personal data. This includes breaches that are the result of both accidental and deliberate causes. It also means that a breach is more than just about losing personal data.
When a personal data breach takes place, what should a controller do in the first instance?
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Partially
correct
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| Question 3 :
The lawful bases for processing are set out in the GDPR and at least one of these must apply whenever you process personal data. But which of the following includes all of the lawful bases?
Which one is correct, and which ones are incorrect?
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| Question 4 :
According to the GDPR, for how long can personal data be stored?
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Partially
correct
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| Question 5 :
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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Clients' Monies |
| Question 6 :
Does the following information need to be included in a firm's clients' money records?
Entries of all clients' money paid direct to the client, or, on the client’s instructions, paid to a third party, identifying that person.
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Correct
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Question 7 :
Does the following information need to be included in a firm's clients' money records?
Entries of all cheques received and endorsed over by the firm to the client or, on the client’s instruction, endorsed over to a third party, identifying that person.
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Correct
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| Question 8 :
Before holding clients' money, what should a firm do?
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Partially
correct
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| Question 9 :
For the purposes of AAT's Clients' Money Policy, what is clients' money?
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| Question 10 :
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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Partially
correct
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Client care |
| Question 11 :
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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Partially
correct
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| Question 12 :
What information must firms make available to clients in accordance with the Provision of Services Regulations 2009?
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Partially
correct
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| Question 13 :
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 14 :
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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Partially
correct
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| Question 15 :
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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Client care |
| Question 16 :
The Professional Conduct in Relation to Taxation (PCRT) sets out the fundamental principles and standards for tax planning all members are expected to follow. Which of the following are included in the five standards for tax planning?
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Partially
correct
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| Question 17 :
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?
The client wants to leave their existing accountant.
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Correct
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| Question 18 :
How long does AAT recommend a member should hold professional indemnity insurance cover for once they cease practising?
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Partially
correct
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| Question 19 :
What is the minimum level of professional indemnity insurance cover required by a licensed member who provides services to clients as a sole trader?
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Partially
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| Question 20 :
Does a licensed member need to notify their professional indemnity insurer of a complaint?
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Correct
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