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CELE SQE1 模拟练习

Examination Timing: 00H00M45S

You are a partner in the corporate department of a large provincial firm. Several corporate finance specialists in your firm advise on transactions involving bonds, shares, and other investment products. As the firm expands, investment advice becomes increasingly important. 

In respect of the Part XX exemption, which of the following statements best describes the legal position?

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You have chosen the incorrect answer.
Your selected option: B

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The key test for the Part XX exemption is whether the investment activity is complementary to other professional services supplied by the firm. The activity must be done in connection with or as part of the main legal services provided. This ensures the activity is incidental to the main legal services. Options A, B, D, and E are incorrect because they misinterpret the scope of the Part XX exemption and the requirements for accounting to clients for commissions.

Key Point: This question assesses the application of the Part XX exemption under the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001, focusing on the complementary nature of investment activities to main legal services.



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