LawOfficeMgmt-Test 2

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Question

Answer

THE PROCESS OF TRACKING TIME FOR THE PURPOSE OF BILLING CLIENTS.

TIMEKEEPING.

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THE PROCESS OF ISSUING INVOICES FOR THE PURPOSE OF COLLECTING MONIES FOR LEGAL SERVICES PERFORMED AND BEING REIMBURSED FOR EXPENSES.

BILLING.

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A FEE FOR LEGAL SERVICES THAT IS BILLED TO THE CLIENT BY THE HOUR AT AN AGREED UPON RATE.

HOURLY RATE FEE.

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FEE BASED ON THE ATTORNEY'S OR LEGAL ASSISTANT'S LEVEL OF EXPERTISE AND EXPERIENCE IN A PARTICULAR AREA.

ATTORNEY OR LEGAL ASSISTANT HOURLY RATE.

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FEE BASED ON ONE HOURLY CHARGE FOR THE CLIENT, REGARDLESS OF WHICH ATTORNEY WORKS ON THE CASE AND WHAT HE OR SHE DOES ON THE CASE.

CLIENT HOURLY RATE.

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AN HOURLY RATE THAT IS SET TAKING INTO ACCOUNT THE BLEND OR MIX OF ATTORNEYS WORKING ON THE MATTER.

BLENDED HOURLY RATE FEE.

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TYPES OF HOURLY RATE CONTRACTS:

-ATTORNEY OR LEGAL ASSISTANT HOURLY RATE -CLIENT HOURLY RATE -BLENDED HOURLY RATE -ACTIVITY HOURLY RATE

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FEE COLLECTED IF THE ATTORNEY SUCCESSFULLY REPRESENTS THE CLIENT. AND RECEIVES A PERCENTAGE OF THE AMOUNT RECOVERED.

CONTINGENCY FEE.

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FEE BASED ON THE DIFFERENT HOURLY RATES, DEPENDING ON WHAT TYPE OF SERVICE OR ACTIVITY IS ACTUALLY PERFORMED.

ACTIVITY HOURLY RATE.

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TERM FOR THE MONEY THE LAW OFFICE OR ATTORNEY HAS EARNED AND IS ENTITLED TO DEPOSIT IN THE OFFICE'S OR ATTORNEY'S OWN BANK ACCOUNT.

EARNED RETAINER.

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MONEY THAT IS PAID UP FRONT BY THE CLIENT AS AN ADVANCE AGAINST THE ATTORNEY'S FUTURE FEES & EXPENSES. UNTIL THE MONEY IS ACTUALLY EARNED BY THE ATTORNEY OR LAW OFFICE, IT BELONGS TO THE CLIENT.

UNEARNED RETAINER.

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___________ FEES ARE USED IN REPRESENTING PLAINTIFFS IN PERSONAL INJURY CASES.

CONTINGENCY

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WHAT TYPE OF FEE IS MOST OFTEN USED WHEN PREPARING WILLS OR UNCONTESTED DIVORCE?

FLAT FEE.

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A _____ OR AN _____ ACCOUNT IS A SEPARATE BANK ACCOUNT, APART FROM A LAW OFFICE'S OPERATING CHECKING ACCOUNT, WHERE UNEARNED CLIENT FUND ARE DEPOSITED.

TRUST/ESCROW ACCOUNT

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A NON-REFUNDABLE RETAINER IS WHAT KIND OF RETAINER?

EARNED RETAINER. (CASE RETAINER.)

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FEES GIVEN TO THE PREVAILING PARTY UNDER A STATUTE ARE WHAT?

COURT-AWARDED FEES.

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FACTORS TO DETERMINE IF A FEE IS REASONABLE (TWO).

THE FEES CUSTOMARILY CHARGED IN THE LOCALITY AND FOR SIMILAR SERVICES, THE EXPERIENCE AND REPUTATION OF THE ATTORNEY.

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IF A LAW OFFICE RECEIVES CLIENT FUNDS WHAT KIND OF ACCOUNT IS THAT?

TRUST OR ESCROW.

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[true OR false] CLIENT FUNDS MAY BE DEPOSITED IN THE LAW OFFICE OPERATING ACCOUNT.

FALSE.

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[true OR false] FINAL FUNDS MAY BE DEPOSITED IN NEITHER THE LAW OFFICE OPERATING ACCOUNT OR THE TRUST ACCOUNT.

FALSE.

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[true OR false] CLIENT FUNDS MAY BE DEPOSITED IN THE LAW OFFICE TRUST ACCOUNT.

TRUE.

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[true OR false] TRUST ACCOUNT FUNDS MAY BE USED TO PAY LAW OFFICE RENT.

FALSE.

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[true OR false] TRUST ACCOUNT FUNDS MAY BE USED TO PAY FOR STAFF PAYROLL.

FALSE.

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[true OR false] TRUST ACCOUNT FUNDS MAY BE USED TO MAKE A DEPOSIT IN THE LAW OFFICE OPERATING ACCOUNT IF THE FUNDS WILL BE RE-PAYED.

FALSE.

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[true OR false] TRUST ACCOUNT FUNDS MAY BE USED TO PAY LAW OFFICE FOR FEES THAT HAVE NOW BEEN EARNED.

TRUE.

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LAW OFFICES MUST RETURN CLIENT FUNDS WHEN?

IMMEDIATELY.

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MANY JURISDICTIONS PROHIBIT CONTINGENCY FEES IN ______ & _____PROCEEDINGS AS A MATTER OF PUBLIC SAFETY.

CRIMINAL / DOMESTIC-RELATION

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WHAT A FIRM ACTUALLY RECEIVES IN INCOME AS OPPOSED TO THE AMOUNT IT BILLS.

REALIZATION.

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WHAT IS A SCHEDULING SYSTEM THAT TRACKS & ORGANIZES APPOINTMENTS, DEADLINES & COMMITMENTS?

DOCKET CONTROL.

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LAW THAT ENCASES THE MAXIMUM AMOUNT OF TIME PARTIES CAN WAIT BEFORE THEY MUST FILE A CASE.

STATUTE OF LIMITATIONS.

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ATTORNEYS WHO MISS IMPORTANT DEADLINES ARE SUBJECT TO WHAT?

-FINES -SANCTIONS -SUSPENSIONS -DISBARMENT -PRACTICE SUITS

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A MEETING THAT HAPPENS EVERY THURSDAY MORNING IS AN EXAMPLE OF WHAT KIND OF ENTRY.

RECURRING ENTRY.

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WHAT IS THE DIFFERENCE BETWEEN WORKDAYS AND CALENDAR DAYS?

CALENDAR DAYS COUNT ALL DAY. WORKDAYS ARE ONLY MONDAY - FRIDAY.

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SYSTEM FOR CALCULATING DEADLINES THAT COUNTS ALL DAYS INCLUDING WEEKENDS AND HOLIDAY.

CALENDAR DAYS.

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SYSTEM FOR CALCULATING DEADLINES THAT REFERS TO ONLYDAYS WHEN THE COURT IS OPEN.

WORKDAYS.

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[true OR false] PRO BONO IS LEGAL SERVICES CHARGED TO A CLIENT WHO IS LOW-INCOME.

FALSE.

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[true OR false] LEGAL ASSISTANTS SHOULD ALWAYS RECORD THE ACTUAL AMOUNT OF TIME SPENT ON A PROJECT AND SHOULD NOT DISCOUNT THAT TIME.

TRUE.

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[true OR false] A DRAW REFERS TO A PARTNERS RECEIVING A MONTHLY CHECK AS AN ANTICIPATED SHARE OF PROFITS.

TRUE.

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[true OR false] WHOEVER WRITES AND SIGNS THE CHECKS SHOULD ALWAYS RECONCILE THE BANK ACCOUNT.

FALSE.

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[true OR false] IT IS PERMISSIBLE FOR A LAWYER TO SPLIT FEES WITH A NON-LAWYER.

FALSE.

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[true OR false] ALTHOUGH A LAWYER MAY NOT SOLICITE A NON-LAWYER/ PARALAWYER MAY.

FALSE.

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[true OR false] A LAWYER MAY MAKE COURT APPEARANCES PRIOR TO BEING SWORN IN AND HAVING A LICENSE SO LONG AS HE OR SHE HAS PASSED THE BAR EXAM.

FALSE.

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Created by: hannah_cunningham