ACCA Applied Skills · Paper LW

ACCA Corporate and Business Law (Global) Study Guide

ACCA Corporate and Business Law (Global), or LW, is a two-hour computer-based exam. Section A has 25 two-mark and 20 one-mark objective questions (70 marks). Section B has five six-mark multi-task questions (30 marks). You need 50% to pass. Learn rules in plain words, then practise applying them to short facts.

LW tests whether you know the main rules of business law and can apply them to short facts. The syllabus runs from the legal system through contract, tort and employment law, then agency, partnerships and companies, to insolvency and corporate fraud and criminal behaviour. Every question is compulsory, so you cannot skip a topic and hope it does not appear.

The exam is two hours and computer-based. Section A has 25 two-mark and 20 one-mark objective test questions, worth 70 marks. Section B has five six-mark multi-task questions, worth 30 marks. Objective questions are all or nothing. A wrong answer scores zero, with no further penalty, and there are no part marks. So always answer every question.

Students usually score well when they know definitions and conditions exactly. They lose marks when they half-remember a rule, mix up similar concepts, such as shares and loan capital, or the duties of different officers, or read the facts too fast. Because the paper is wide, steady revision of all chapters matters more than deep study of a few. Practice with timed questions shows you which rules you can apply and which you only recognise.

Corporate and Business Law (Global): chapters and topics

Essential elements of legal systems

Business, political and legal systems

Essential elements of legal systems

International trade, international legal regulation and conflict of laws

Essential elements of legal systems

Alternative dispute resolution mechanisms

International business transactions

Introduction to the UN Convention on Contracts for the International Sale of Goods and ICC Incoterms

International business transactions

Obligations of the seller and buyer, and provisions common to both

Transportation and payment of international business transactions

Transportation documents and means of payment

The formation and constitution of business organisations

Agency law

The formation and constitution of business organisations

Partnerships

The formation and constitution of business organisations

Corporations and legal personality

The formation and constitution of business organisations

The formation and constitution of a company

Capital and the financing of companies

Share capital

Capital and the financing of companies

Loan capital

Capital and the financing of companies

Capital maintenance and dividend law

Management, administration and the regulation of companies

Company directors

Appointment of Company Directors

Management, administration and the regulation of companies

Other company officers

Management, administration and the regulation of companies

Company meetings and resolutions

Insolvency law

Insolvency and administration

Corporate fraudulent and criminal behaviour

Fraudulent and criminal behaviour

How to prepare Corporate and Business Law (Global)

The paper is broad, so you need a plan that covers every chapter, then tests recall and application under time pressure. Work in this order.

Read the syllabus list and split all the syllabus chapters into three blocks: the legal system with contract, tort and employment law; agency and partnership with company formation, capital and financing; and company management and regulation with insolvency and corporate fraud. Give each block a fixed study period.
For each chapter, write a one-page summary in your own words. Include key terms, the conditions for each rule, and the exceptions. Keep these on your phone for short revision sessions.
Group similar concepts and compare them side by side. Examples: partnership and company, share capital and loan capital, directors and other officers, ordinary and special resolutions, administration and liquidation.
After each chapter, do objective questions on it straight away. For every wrong answer, write down which rule you missed and why the right option fits the facts.
Practise Section B style multi-task questions. Take a short scenario, answer each task in turn, and check that every answer comes from the facts given, not from general knowledge.
Learn contract, tort and employment law with care. Know how a valid contract is formed, what remedies exist for breach, when a duty of care arises in negligence, and how an employee differs from a self-employed person.
Two to three weeks before the exam, start full timed mock exams of two hours. Review every wrong answer and rework weak chapters.
In the last week, reread your summaries only. Focus on definitions, time limits, majorities and conditions, then rest properly before the exam.

Time management in the exam

You have two hours for 100 marks, so you have about 1.2 minutes per mark if you use every minute. That works out at about 84 minutes for Section A (70 marks) and 36 minutes for Section B (30 marks), which leaves no time for review. So you need to work a little faster than that.
Do Section A first and aim to finish it in about 65 to 70 minutes. That is roughly one minute per mark: about two minutes for a two-mark question and about one minute for a one-mark question. If a question stalls you, flag it, choose your best answer, and return if time allows.
Never leave a question blank. With all-or-nothing marking and no extra penalty, a reasoned guess costs you nothing.
For Section B, spend about 7 minutes on each six-mark question, which is about 35 minutes in total. Read the whole scenario once, then read the tasks, then answer in order.
Keep 10 to 15 minutes at the end to review flagged questions. Check the exact wording of each, especially words like 'not', 'only' and 'must'.
Check the clock at set points, such as after 45 questions or at the one-hour mark, so you spot a slow pace early.

Mistakes that cost marks in Corporate and Business Law (Global)

Studying only favourite chapters
Fix: Cover all the syllabus chapters. Every question is compulsory, so one weak area can cost a sizable block of marks.
Memorising rules without their conditions
Fix: For every rule, note when it applies and when it does not. Test yourself by asking what would change the answer.
Confusing similar terms
Fix: Build comparison lists and revise them often. Practise questions that make you choose between close options.
Answering from general knowledge instead of the facts
Fix: Underline the key facts in each question. Base your answer on those facts and the rule, not on what seems fair.
Leaving Section B tasks half answered
Fix: Practise them under time. Answer every task, even briefly, and make each answer clearly linked to the scenario.
Skipping timed practice
Fix: Do full two-hour mocks before your sitting. They show your pace and reveal weak chapters while there is still time to fix them.

Corporate and Business Law (Global): frequently asked questions

How is the ACCA LW (Global) exam structured?

It is a two-hour computer-based exam out of 100 marks. Section A has 25 two-mark and 20 one-mark objective questions, worth 70 marks. Section B has five six-mark multi-task questions, worth 30 marks.

What is the pass mark for Corporate and Business Law?

The pass mark is 50%, as for every Applied Skills exam. All questions are compulsory.

Is there negative marking in LW?

No. Objective questions are all or nothing, so a wrong answer scores zero and nothing more is lost. Answer every question, even if you have to guess.

When can I sit the LW exam?

LW is an on-demand computer-based exam, so you do not have to wait for a fixed session. ACCA has said LW runs to July 2027 before the redesigned qualification.

Which chapters should I start with?

Start with the legal system, then move to contract and tort and to employment law. Next study agency and partnership, then company law, insolvency and corporate fraud. Revisit weaker chapters regularly, because the exam covers the whole syllabus.