Friday Five – 12 July – 5 Questions in 5 Minutes
Last updated on September 25th, 2019 at 4:14 am
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.
IMPORTANT! These questions relate to examinable tax year 2018/19, examinable by the CII until 31 August 2019. They do not relate to tax year 2019/20 which is only examinable by the CII from 1 September 2019.
- Which of the following is NOT one of the FCA’s Principles for Businesses?
- Customers’ interests
- Clients’ assets
- Since 1 January 2018, a client investing in a packaged retail and insurance-based investment product (PRIIP) must receive a:
- product information document (PID)
- key information document (KID)
- packaged retail information document (PRID)
- key facts document (KFD)
- Jack is employed in one of the largest high street banks. He has noticed on his pay slip that he has a PAYE code of 543L. Which of the following is the correct explanation of what this means?
- £453.25 will not be taxed each month
- £543.00 will be taxed each month
- £543.00 will not be taxed each month
- £453.25 will be taxed each month
- Who of the following might benefit from Fixed Protection 2016?
- Marcus who has previously applied for Primary protection but is concerned as his fund has now exceeded £2m.
- Siobhan who has accrued a pension fund of just over £1m but has not applied for primary or enhanced protection.
- Cheryl whose defined benefit scheme has exceeded £2.3m and already has enhanced protection in place.
- Bill whose fund stands at £800,000 but wishes to make contributions of the annual allowance over the next 5 years.
- Neil’s critical illness policy has been set up on a reviewable basis. Which of the following is the new rate based on when the reviews are undertaken?
- The policyholder’s health
- The policyholder’s age
- Claims’ experience of the insurer
- Changes in the amount of claims made within the industry
- B – See R01 Study Text, Chp 9
Grab our taster mock exam paper for CII R01. Click here to download.
- B – See R02 Study Text, Chp 6:1
Grab our taster mock exam paper for CII R02. Click here to download.
- A – See R03 Study Text, Chp 6
Grab our taster mock exam paper for CII R03. Click here to download.
- B – See R04 Study Text, Chp 2.2
Grab our taster mock exam paper for CII R04. Click here to download.
- C – See R05 Study Text, Chp 7
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?
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