Paper 2.2: June 2006 Exam Tips (FTC)

This post expands on the FTC's exam tips posted before:

ACCA
JUNE 2006 Exam Tips (FTC)
Paper 2.2

• EC law
• Delegated legislation
• Consideration (including Pinnel's case)
• Discharge by performance
• Restraint of trade
• Remedies for breach (including liquidated damages clauses)
• Types of company
• Memorandum of Association
• Articles of Association
• Discounts & premiums
• Reductions of capital
• Debentures and charges
• Directors
• Auditors
• Minority protection
• Insolvency

Pre examination

• Review lecture notes after each session.
• Rework all questions that were worked during your tuition or revision phase.
• Learn the theory, but more importantly appreciate its real world application.
• Practice as many other exam standard questions as possible, including completing and course tests/examinations.

Don’t forget:

• Questions in Section A of the paper are designed to test candidates' knowledge of the law.
• Questions in Section B of the paper are designed to test not only knowledge of the law but also understanding of the law by requiring candidates to apply the law to a factual scenario.
• Questions are often divided into several parts. This is particularly the case with questions on company law and enables the examiner to focus on more than one sub-topic of the syllabus in a single question.

In the exam

• Select your questions carefully, and then allocate your time.
• Look at the marking guide to provide an indication as to the volume and time that should be devoted to each question.
• Watch your time management – don’t overrun your time allocation on each question, its easier to pass an exam attempting 100% of the exam than only doing 80%.
• There are no marks for vague or irrelevant comments.
• In Section B – identify the legal issue, explain the relevant law, apply the law and then provide advice.
• Read the question carefully – highlight the key words.
• Relate your answers to the issues raised in the scenario.

Author's Note: The tips are taken directly from ftc4success.