Tier 1 visa to Indefinite Leave to Remain

[steefu]

Hi,
I am an Indian and my Tier-1 (HSMP) Visa is Expiring in December 2012. I entered the UK in 2002 as a student (M.Sc from University of Nottingham) and later on in 2007 graduated with an MBA from University of Strathclyde. I'm currently a Director of a Company in Scotland and have been with this company for over 5 years. Do I have to take the "Life in the UK Test"?
My wife was educated in India with a post graduation in Computer Science. She does have a certificate from the University stating all courses were taught in English. She has been here since Jan 2011. Does she need to sit for the "Life in the UK Test" as well??
My Visa expires on the 3rd week of December 2012 and can I apply for the extension now as I'm planning to travel during the 3rd week of December!
Kindly advise..
Best regards,
AJ.
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[tier1Reading]

Both of you have to take LIUK test.

If you are applying for ILR under Tier 1 (5 years), then please check these FAQ's....

http://www.immigrationboards.com/viewtopic.php?t=79378