This question requires candidates to explain the operation of three types of partnerships, one unlimited and the others benefitting from limited liability.

(a) 
2 marks Full understanding of unlimited liability of ordinary partners.
1 mark Some understanding of the liability of such partners.
0 marks No knowledge whatsoever.

(b) 
2–3 marks A thorough answer explaining fully the rules relating to the limited partnership.
1 mark Little, if any, explanation. Perhaps lacking reference to the rules relating to this form.
0 marks No knowledge of the topic whatsoever.

(c) 
4–5 marks A thorough answer explaining fully the rules relating to the limited liability partnership.
2–3 marks Some knowledge of the operation of limited liability partnerships but lacking in detail. Perhaps lacking in any reference to the rules relating to this form.
1 mark Little knowledge or understanding.
0 marks No knowledge of the topic whatsoever.