Friday Five – 14 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 2018/19, examinable until 31 August 2019.

1. Which of the following consequences of trying to embed ethics into an organisation should be encouraged?
   1. Superficial ethical behaviour being viewed as a marketing ploy
   2. Inconsistent ethical behaviour resulting in cynicism
   3. Senior management ‘walking the talk’ to reinforce the ethics of the business
   4. Not addressing behaviours that could underpin an organisation

2. If an investment has a mean of 5% and a standard deviation 6%, you would expect 95% of returns to fall between:
   1. -1% and 11%
   2. -5% and 15%
   3. -7% and 17%
   4. 1% and 16%

3. How often do registered Value Added Tax (VAT) traders normally have to pay any VAT due to HMRC?
   1. At the date they supply taxable goods
   2. Monthly
   3. Quarterly
   4. Annually

4. Farley Ltd’s occupational pension scheme is underfunded and The Pension Regulator has concluded they are insufficiently resourced, what measure can they issue?
   1. Contribution Notice
   2. Financial Support direction
   3. Freezing Order
   4. Restoration Order

5. In relation to the State pension credit, an individual reaching State pension age on or after 6 April 2016 may normally be entitled to:
   1. The guarantee credit only
   2. The savings credit only
   3. Both the guarantee and the savings credit
   4. Neither the guarantee nor the savings credit

Answers

1. C – See R01 Study Text, Chp 10
   Grab our taster mock exam paper for CII R01. Click here to download.

2. C – See R02 Study Text, Chp 3
   Grab our taster mock exam paper for CII R02. Click here to download.

3. C – See R03 Study Text, Chp 8
   Grab our taster mock exam paper for CII R03. Click here to download.

4. B – See R04 Study Text, Chp 2
   Grab our taster mock exam paper for CII R04. Click here to download.

5. A – See R05 Study Text, Chp 3
   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.