SESSION 1 ASSESSMENT for The Legal Cheek Commercial Awareness Academy 2023-24: Introduction to Venture Capital – with Cooley
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1. What is Venture Capital (VC)?
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Capital invested in a project in which there is a substantial element of risk, typically a new or expanding business
Capital invested in a project which has a very low element of risk
Money leant to a high risk-high reward project
Shares issued in a portfolio of companies, where risk is evenly distributed throughout
2. What does IPO stand for?
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International Property Opportunity
Intellectual Public Offering
Initial Public Offering
International Payable Obligation
3. Which of the following is not a central player in the VC ecosystem?
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Ratings agency
Angel investor
Founder
Accelerator
4. In the context of employee incentives, which of the following best describes ‘options’?
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The option to acquire shares in the company at a later date
The option to cease your employment contract early if the company is not seeing rapid growth
The option to move to an office abroad within 5 years of joining the company
The option to increase the amount the company contributes to your pension
5. What is the typical life length of a VC fund?
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1 year
2-6 years
7-10 years
10-50 years
6. Which of the below terms matches the following definition: funding round in which a company is valued lower than it was in the previous.
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Down road
Down round
Reduced round
Down right
7. On which stock exchange did Deliveroo list?
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New York Stock Exchange (NYSE)
Shanghai Stock Exchange (SSE)
London Stock Exchange (LSE)
Japan Stock Exchange (JPX)
8. Which of the following is the most important attribute for a VC lawyer?
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Black letter law skills
A commercial approach
Strong advocacy skills
Willingness to work long hours
9. What is NOT a form of exit from a venture capital investment?
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IPO
Buy-out by private equity
Strategic acquisition by a big company
A take-private
10. Series B investment rounds typically feature which class of investors?
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Family and friends
Venture capital firms
Members of the public acquiring shares
Governments
Calculation
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