Friday Five – 13 March – 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 2019/20, examinable until 31 August 2020.
- Why would it be sensible for P J Carruthers Ltd, a small advisory firm, to repeatedly compile some of the same MI over time?
- To improve efficiency of data gathering
- To allow the workforce to understand the data
- So that companies in the same sector can make comparisons
- To assess trends and monitor progress
- Hydro is a company involved in developing alternative energy sources. This is of interest to ethical funds who adopt which approach to screening?
- Negative screening
- Avoidance screening
- Positive screening
- Green screening
- John is self-employed, and his accounts run to 31st August each year; what will his taxable trading income for 2019/20 be based on?
- Profits from 6th April 2018 to 5th April 2019
- Profits for his accounts ending 31st August 2018
- Profits for his accounts ending 31st August 2019
- Profits from 31st August 2018 to the 5th April 2019
- Joyce registered for Primary protection with a fund at A-day valued at £2m. Assuming a lifetime allowance of £2.4m at the point when Joyce crystallises her fund, what amount can her fund build up to before any lifetime allowance charge is levied?
- Although no set survival period is specified in the ABI best practice, which of the following reflects the typical range of survival periods for critical illness cover on the market?
- 7 – 14 days
- 10 – 14 days
- 14 – 21 days
- 14 – 30 days
- D – See R01 Study Text, Chp 4
Grab our taster mock exam paper for CII R01. Click here to download.
- C – See R02 Study Text, Chp 7
Grab our taster mock exam paper for CII R02. Click here to download.
- C – See R03 Study Text, Chp 1
Grab our taster mock exam paper for CII R03. Click here to download.
- D – See R04 Study Text, Chp 2.2
Grab our taster mock exam paper for CII R04 Click here to download.
- D – 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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