* not completed

. Which of the following statements is incorrect in relation to directors?

Private companies are required to have at least one director. correct incorrect

Public companies are required to have at least two directors. correct incorrect

The Companies Act 2006 requires that a director appointed after the commencement of the Act must be at least 21 years of age. correct incorrect

At least one of the directors of the company must be a natural person. correct incorrect

* not completed

. Which one of the following transactions between a director and the company does NOT require member approval?

Where the director's contract of employment is for a term of one year. correct incorrect

Awards of sums in excess of £200 on loss of office. correct incorrect

Loans to directors. correct incorrect

Substantial property transactions. correct incorrect

* not completed

. The company secretary is considered to be:

A member of the company correct incorrect

A director of the company correct incorrect

An independent contractor correct incorrect

An employee of the company correct incorrect

* not completed

. The notice period required to be provided to the company secretary, for the removal of a director before the expiry of the term of office, through an ordinary resolution, is…?

21 days correct incorrect

28 days correct incorrect

14 days correct incorrect

7 days correct incorrect

* not completed

. The prescribed amount of share capital required of a public limited company is…?

£50,000 correct incorrect

Not less than £1 correct incorrect

Not less than £1 per share correct incorrect

£25,000 correct incorrect

* not completed

. Which of the following is NOT a type of share?

Redeemable share correct incorrect

Ordinary share correct incorrect

Extraordinary share correct incorrect

Preference share correct incorrect

* not completed

. In which of the following circumstances will crystallization of a floating charge NOT apply?

Where a receiver is appointed. correct incorrect

Where a director unilaterally decides to crystallize the charge. correct incorrect

Where the company goes into administration. correct incorrect

Where an event provided for in the contract establishing the floating charge occurs. correct incorrect

* not completed

. Where charges have been correctly registered, which of the following ranks LOWEST?

A fixed charge correct incorrect

A floating charge correct incorrect

Preferential creditors correct incorrect

Unsecured creditors correct incorrect

* not completed

. A charge applied against company assets must be registered with the Registrar within how many days of its creation?

7 days correct incorrect

21 days correct incorrect

28 days correct incorrect

Any time until the person interested wishes to redeem the loan correct incorrect

* not completed

. Which of the following debts will a preferential creditor NOT be entitled to payment of?

Unpaid wages of £1500 correct incorrect

Unpaid holiday pay correct incorrect

Contributions to occupational pension schemes correct incorrect

Loans taken to pay wages correct incorrect