Friday Five – 15 May – 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 2019/20, examinable by the CII until 31 August 2020. They do not relate to tax year 2020/21 which is only examinable by the CII from 1 September 2020.
- Which of the following is one of the operational objectives of the Financial Conduct Authority?
- Protect consumers
- Openness and disclosure
- The great bear market of 1973-1974 would be regarded as what type of risk?
- Beta risk
- Non-systematic risk
- Systematic risk
- Specific risk
- Martin is considering investing in gilt-edged securities. He should be aware that: Tick all that apply.
- interest is usually paid twice a year.
- interest is taxed on a current year basis as earned income.
- he can sell them at any point on the stock exchange.
- he can claim any losses against future capital gains.
- Under HM Revenue & Customs (HMRC) rules, pension advice provided to employees by their employers is not treated as a benefit in kind provided the cost is no more than how much per employee per year?
- Amanda has a term assurance policy that includes Waiver of Premium (WOP). For how long will the waiver of premiums continue when a valid claim is made?
- For a maximum of 2 years
- Until she returns to work, the expiry of the policy or a specified age
- Until she returns to work
- For a period of between 2 and 5 years depending on the reason for her claim
- C – See R01 Study Text, Chp 5:1
Grab our taster mock exam paper for CII R01. Click here to download.
- C – See R02 Study Text, Chp 5
Grab our taster mock exam paper for CII R02. Click here to download.
- AC – See R03 Study Text, Chp 9
Grab our taster mock exam paper for CII R03. Click here to download.
- D – See R04 Study Text, Chp 1
Grab our taster mock exam paper for CII R04 Click here to download.
- 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?
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