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Friday Five – 15 May – 5 Questions in 5 Minutes

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.

Questions

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.

  1. Which of the following is one of the operational objectives of the Financial Conduct Authority?
    1. Proportionality
    2. Transparency
    3. Protect consumers
    4. Openness and disclosure
  1. The great bear market of 1973-1974 would be regarded as what type of risk?
    1. Beta risk
    2. Non-systematic risk
    3. Systematic risk
    4. Specific risk
  1. Martin is considering investing in gilt-edged securities. He should be aware that: Tick all that apply.
    1. interest is usually paid twice a year.
    2. interest is taxed on a current year basis as earned income.
    3. he can sell them at any point on the stock exchange.
    4. he can claim any losses against future capital gains.
  1. 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?
    1. £50
    2. £75
    3. £150
    4. £500
  1. 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?
    1. For a maximum of 2 years
    2. Until she returns to work, the expiry of the policy or a specified age
    3. Until she returns to work
    4. For a period of between 2 and 5 years depending on the reason for her claim

 

Answers

  1. C – See R01 Study Text, Chp 5:1
    Grab our taster mock exam paper for CII R01. Click here to download.
  1. C – See R02 Study Text, Chp 5
    Grab our taster mock exam paper for CII R02. Click here to download.
  1. AC – See R03 Study Text, Chp 9
    Grab our taster mock exam paper for CII R03. Click here to download.
  1. D – See R04 Study Text, Chp 1
    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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