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Friday Five – 13 December – 5 Questions in 5 Minutes

Friday Five – 13 December – 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 2019/20, examinable until 31 August 2020.

  1. How would you describe the impact of the EU on UK regulation?
    1. UK financial services are not subject to regulations imposed by the EU.
    2. A limited amount of UK financial services regulation originates from the EU.
    3. UK financial services regulation is solely derived from the EU.
    4. Around 70% of the FCA’s policy making is driven by EU initiatives.
  1. Davina took a loan that charged interest at a rate of 15% a year on a monthly basis. What is the annual percentage rate (APR)?
    1. 18.75%
    2. 16.57%
    3. 15%
    4. 16.08%
  1. Under the identification rules used for calculating CGT on shares of the same type and class acquired at different times, how are shares grouped? Tick all that apply.
    1. Acquisitions within the following 90 days
    2. Acquisitions on the same day
    3. Acquisitions arising from a rights issue
    4. Acquisitions in the share pool
  1. John will reach his State pension age in December 2019, but he is considering deferring this. He should be aware that in order to receive any increase in the pension he receives, he will need to defer for at least:
    1. 9 weeks
    2. 6 weeks
    3. 5 weeks
    4. 4 weeks
  1. The usual limitation on the amount of benefit that can be paid from an individual income protection policy is that the total of all policies does not exceed:
    1. 50% of monthly gross earnings in the two years prior to incapacity
    2. 50% – 60% of average monthly gross earnings in the year prior to incapacity
    3. 75% – 80% of average monthly gross earnings in the year prior to incapacity
    4. 50% – 65% of monthly gross earnings in the six months prior to incapacity

 

Answers

  1. D – See R01 Study Text, Chp 1
    Grab our taster mock exam paper for CII R01. Click here to download.
  1. D – See R02 Study Text, Chp 4
    Grab our taster mock exam paper for CII R02. Click here to download.
  1. B D – See R03 Study Text, Chp 3
    Grab our taster mock exam paper for CII R03. Click here to download.
  1. A – See R04 Study Text, Chp 7
    Grab our taster mock exam paper for CII R04. Click here to download.
  1. B – 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?

If you found this quiz useful for your CII exam revision, please do share it with your colleagues.

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