Friday Five – 12 October – 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.

Questions

These questions relate to examinable tax year 2018/19, examinable until 31 August 2019.

1. Which of the following is NOT regarded as a key cultural driver?
   1. Controls
   2. Recruitment and T&C
   3. Decision making and challenge
   4. Ethnic diversity

2. How are REITs taxed from an investor’s perspective? Tick all that apply.
   1. Gains from REITs are subject to CGT
   2. Payment from the tax-exempt element is paid gross but liable to tax at 20%
   3. Dividends from the non-exempt element are paid gross
   4. Gains are chargeable events and subject to income tax at marginal rate

3. Which of the following individuals would be unable to claim a personal allowance against income taxable in the UK?
   1. John, a non-resident former teacher in the UK who, following a period of illness, has moved to Spain to recuperate and aid his recovery
   2. Oliver who lives in the Isle of Man
   3. Toby, who has annual overseas income of £6,000 and pays tax on a remittance basis
   4. Sophie, whose late husband worked at the Crown Prosecution Service and now lives in Germany

4. Under auto-enrolment rules, if ABC Ltd has employees who had previously opted out they must re-enrol the eligible jobholders at least every:
   1. 12 months.
   2. 2 years.
   3. 3 years.
   4. 4 years.

5. Arlene has started a second occupation on a part-time basis, three years after taking out her income protection policy. How will this change be treated by most providers?
   1. It will mean that her benefits are reduced
   2. It will mean that her premiums are reduced
   3. It will mean that the cover will cease
   4. It will mean that her benefits will only be paid in relation to her occupation at the time the policy started

Answers

1. D – See R01 Study Text, Chp 9
   Grab our taster mock exam paper for CII R01. Click here to download.

2. A C – See R02 Study Text, Chp 6:2
   Grab our taster mock exam paper for CII R02. Click here to download.

3. C – See R03 Study Text, Chp 1
   Grab our taster mock exam paper for CII R03. Click here to download.

4. C – See R04 Study Text, Chp 3
   Grab our taster mock exam paper for CII R04. Click here to download.

5. D – See R05 Study Text, Chp 6
   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!)