Friday Five – 12 July – 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.
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?
If you found this quiz useful for your CII exam revision, please do share it with your colleagues.I've just answered this week's Friday Five CII exam questions - can you? #Fri5 Click To Tweet