Law Firm Partnership - Practice Test Geeks

There are no jobs available to those who pursue a Master's in Legal Studies

They have to be a lawyer to work in a law firm

They don't have to be a lawyer to work in a law firm

Law firms don't provide legal services to individuals and corporations

Correct! Wrong!

Firms don't compensate equity partners

Partners have less power over firm decision making

Time and skill aren't always parallel paths.

There is no buy-in required

Correct! Wrong!

Membership in the American Bar Association

Law review experience

Years of experience and billable hours.

Alternative performance factors

Correct! Wrong!

Multi-tiered partnerships

Limited liability partnerships

Sole proprietorships

Two-tier partnerships

Correct! Wrong!

Profits may be lower than expected.

Partnerships can become more difficult to manage.

Firms will likely experience high turnover and low morale.

Lawyers can become overly focused on competition.

Correct! Wrong!

More prestige

Bigger paychecks

The ability to assume more responsibility and directly engage with clients.

More vacation days

Correct! Wrong!

Complicating the structure of the firm

Leaving non-lawyer staff out of the equation

Hiring partners from outside the standard path

Promoting lawyers based on years of experience instead of skill levels

Correct! Wrong!