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ALA CLM Practice Questions - Association of Legal Administrators (ALA) Certified Legal Manager (CLM) Exam

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About this Exam

Prepare with the ALA CLM Practice Questions - Association of Legal Administrators (ALA) Certified Legal Manager (CLM) Exam practice quiz. This question bank includes 100 questions covering firm, rule, client, model, and partner. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

Sample Questions

Question 1
Under ABA Model Rule 1.15, a law firm receiving a $25,000 settlement check payable to the firm in trust for a client must do which of the following FIRST?
Endorse and immediately deposit the entire check into the firm's operating account, then issue a partial disbursement to the client
Deposit the entire check into the IOLTA or client trust account and issue disbursements only after the deposit clears
Hold the check uncashed until the client signs a release authorizing disbursement
Cash the check and pay the client and firm fees in cash to avoid bank float
Question 2
A firm has standard fees of $1,000,000 billed and collects $820,000. Worked time at standard rates was $1,250,000. What is the firm's collection realization rate?
65.6 percent
80.0 percent
82.0 percent
152.4 percent
Question 3
Which compensation system distributes partner profits primarily based on each partner's individual origination, billing, and collection metrics?
Pure lockstep based on seniority
Modified Hale and Dorr formula weighting team contribution
Eat-what-you-kill formula based on individual production
Equal partnership shares regardless of performance
Question 4
In a three-way reconciliation of an IOLTA account, which three balances must agree at each reconciliation date?
Bank statement balance, firm general ledger trust balance, and aggregate client subsidiary ledger balances
Bank statement balance, operating account balance, and unbilled WIP balance
Trust balance, accounts receivable balance, and accounts payable balance
Bank statement balance, partner capital balance, and IOLTA interest remitted to the state bar
Question 5
A litigation partner negotiates a flat fee of $250,000 for a defined matter regardless of hours worked. This pricing approach is BEST classified as which alternative fee arrangement?
Hourly billing with a soft cap
Fixed (flat) fee
Contingency fee
Hold-back retainer

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Additional Information

ALA CLM Practice Questions - Association of Legal Administrators (ALA) Certified Legal Manager (CLM) Exam

This practice set contains 100 questions from the matching question bank and focuses on firm, rule, client, model, and partner. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

This is an independent study resource intended for practice and review; it is not an official examination or an endorsement by any organization named in the title.

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Frequently Asked Questions

This quiz contains a total of 100 practice questions carefully selected to test your knowledge on this subject.
Yes, you will have exactly 0 minutes to complete the exam. A countdown timer will be visible once you start.
Yes, you can retake this practice test as many times as you need. The questions and options may be randomized on subsequent attempts to ensure comprehensive learning.

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