Friday Five – 6 November – 5 Questions in 5 Minutes
Welcome to this week’s Friday Five – 5 Questions in 5 Minutes Every Friday
What’s this all about?
It’s a bit of Friday Fun where we provide you with 5 questions relevant to a mix of CII exams. The challenge is for you to answer them in 5 minutes. Answers at the bottom of the page.
These questions relate to examinable tax year 2015/16, examinable until 31 August 2016.
- How do unit trusts and investment trusts differ?
- Regular monthly investment can only be made via a unit trust
- There is greater fund choice via a unit trust
- An investment trust is closed ended while a unit trust is open ended
- Unit trusts are generally used for short to medium term investments, whereas investment trusts are used for long-term investments
- What tends to happen to the correlation of asset classes in major economic downturns?
- It gets higher
- It gets lower
- It stays the same
- It fluctuates wildly
- Gillian has recently invested £20,000 into each of the following investments; UK listed shares, a Corporate Bond and a UK domiciled Exchange Traded Fund. What amount of Stamp Duty Reserve Tax will Gillian pay in total?
- Evelyn wishes to make a complaint against her former employer in relation to incorrect administration of the occupational pension scheme. Who should she complain to?
- The Pensions Advisory Service.
- The Pensions Ombudsman.
- The Pensions Regulator.
- The Financial Ombudsman Service.
- Benefits from income protection policies will normally be paid where the insured is permanently resident within areas known as:
- Stated territories
- Non-exclusion zones
- Included countries
- Free limits
- C – See R01 Study Text, Chp 2 Section B6B
Grab our taster mock exam paper for CII R01. Click here to download.
- A – See J10 Study Text, Chp 3 Section A1A
Grab our taster mock exam paper for CII J10. Click here to download.
- B – See R03 Study Text, Chp 7 Section B
Grab our taster mock exam paper for CII R03. Click here to download.
- B – See R04 Study Text, Chp 3.1 Section B1B
Grab our taster mock exam paper for CII R04. Click here to download.
- D – See R05 Study Text, Chp 6 Section E4
Grab our taster mock exam paper for CII R05. Click here to download.
How did you find this week’s questions? Did you complete them in 5 minutes? Did you get them all correct? Do you disagree with any?
Do let us know by leaving a comment below – we promise to read them all. (Humour particularly appreciated on a Friday!)