Friday Five – 18 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 2015/16, examinable until 31 August 2016.
- What is the purpose of a cooling-off period?
- To allow the borrower sufficient time to change their mind and withdraw from a loan agreement if required
- To allow the lender sufficient time to consider all material facts before making an offer to the borrower
- To allow the intermediary sufficient time to complete their research before presenting their recommendations to the client
- To allow the borrower to gather all requested documentation and to complete all required paperwork
- Which of the following is a type of credit risk?
- Gillian has recently invested £20,000 into each of the following investments; UK listed shares, a Corporate Bond and a UK domiciled Exchange Traded Fund. What amount of Stamp Duty Reserve Tax will Gillian pay in total?
- Jack’s annuity has been calculated on a points system using an automated basis in relation to his lifestyle. This would indicate the purchase of:
- an enhanced annuity.
- a joint life annuity.
- a protected rights annuity.
- an impaired annuity.
- What is an example of medical care provided by or funded by the NHS where an individual demonstrates a “primary health need”?
- Rehabilitation care
- Home help
- Meals on wheels
- Provision of equipment needed to cope on a day to day basis
- A – See R01 Study Text, Chp 5:2, Section L1A
Grab our taster mock exam paper for CII R01. Click here to download.
- B – See R02 Study Text, Chp 5, Section A4
Grab our taster mock exam paper for CII R02. Click here to download.
- B – See R03 Study Text, Chp 7, Section B
Grab our taster mock exam paper for CII R03. Click here to download.
- A – See R04 Study Text, Chp 6:1 Section C2I
Grab our taster mock exam paper for CII R04. Click here to download.
- A – See CF8 Study Text, Chp 2 Section D
Grab our taster mock exam paper for CII CF8. 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?
Do let us know by leaving a comment below – we promise to read them all. (Humour particularly appreciated on a Friday!)