Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

1. __________ is the process of issuing invoices for the purpose of collecting monies for legal services performed and being reimbursed for expenses. Timekeeping and

1. __________ is the process of issuing invoices for the purpose of collecting monies for legal services performed and being reimbursed for expenses.

  1. Timekeeping and billing
  2. Timekeeping
  3. Record-keeping
  4. Billing
  5. None of the above

2.__________is the process of tracking how attorneys and paralegals use their time.

  1. Timekeeping and billing
  2. Timekeeping
  3. Record-keeping
  4. Billing
  5. None of the above

3. The__________rate is based on whether the attorney wins the client's case.

a. client hourly rate

b. blended hourly rate

c. contingency fee

d. activity hourly rate

e. none of the above

4. This type of fee is used most often when preparing wills or in uncontested divorces.

  1. contingency
  2. flat fee
  3. hourly rate
  4. retainer
  5. all of the above

5. A(n) ________is a bank account where unearned client funds are deposited.

  1. trust account
  2. escrow account
  3. savings account
  4. retainer account
  5. a and b.

6. In addition to having a trust account, a law office must also _______.

  1. keep complete records of the trust account
  2. have a savings account
  3. be able to reconcile the trust account down to how much each client has in the account
  4. have a separate trust account for each client
  5. a and c

7. Trust account funds can be used to _____________.

  1. pay for law office rent
  2. pay the law office for fees that have now been earned
  3. pay for staff payroll if the staff members worked on the client's case
  4. make a deposit into the law office operating account if the funds will be repaid
  5. none of the above

8. IOLTA accounts may use their interest to help ___________.

  1. fund schools
  2. fund legal aid offices
  3. purchase office supplies
  4. give bonuses to employees

9. Which of the following statements is true?

  1. Law office operating funds may be deposited in the trust account.
  2. Client funds may be deposited in the law office operating account.
  3. Client funds may be deposited in either the law office operating account or the trust account.
  4. Client funds may be deposited in the trust account.
  5. None of the above.

10. Law offices can protect client funds by having their accounting members ___________.

  1. bonded
  2. have their mug shots taken
  3. fingerprinted
  4. b and c
  5. none of the above

11. A law that indicates the maximum amount of time parties can wait before they must file a case is called a ______________.

  1. limitation date
  2. file date
  3. Statute of limitations
  4. a and c
  5. none of the above

12. When documents _____________they should be entered into the law office's docket system.

  1. are created
  2. are received
  3. are filed with the court
  4. none of the above

13. The purpose of a reminder date is to warn the timekeeper that __________________.

  1. a deadline has passed
  2. a deadline is approaching
  3. the case is about to be dismissed
  4. b and c
  5. none of the above

14. Local court rules ____________

  1. are rules that can be followed or ignored.
  2. are rules that must be followed only when bringing a case
  3. create procedural and/or automatic deadlines
  4. apply only at the federal level
  5. b, c. and d

15.A(n) _______ is used to number every page of a document and stamps a document with a sequential number and then automatically advances to the next number.

  1. docket stamp
  2. Bates Stamp
  3. certificate stamp
  4. official stamp

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Business Statistics For Contemporary Decision Making

Authors: Black Ken

8th Edition

978-1118494769, 1118800842, 1118494768, 9781118800843, 978-1118749647

Students also viewed these Law questions