Friday Five – 19 January – 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 2017/18, examinable until 31 August 2018.
- How can an adviser establish a client’s attitude to risk?
- By asking the client the risk they are willing to take based on a scale of 1-10
- Through considering their existing investments
- By careful questioning to clarify understanding, knowledge and experience
- By understanding their attitude to any potential loss
- What characteristic would you associate with fixed interest securities?
- Fixed redemption value
- High risk
- Variable rate of interest
- Negotiable long-terms
- Rhiannon and Vera exchanged their houses with no cash payment as both houses were worth £250,000. What, if any, Stamp Duty Land Tax (SDLT) is payable?
- Neither is liable for SDLT as no money has changed hands
- Both would be liable for SDLT of £2,500 each
- Neither is liable for SDLT as it is not a commercial transaction
- They would have a joint liability to SDLT of £2,500
- Evelyn wishes to make a complaint against her former employer in relation to incorrect administration of the occupational pension scheme. Who should she complain to?
- The Pensions Advisory Service.
- The Pensions Ombudsman.
- The Pensions Regulator.
- The Financial Ombudsman Service.
- To qualify for a full single-tier State pension an individual must have a total of how many years’ NIC contributions or credits?
- C – See R01 Study Text, Chp 8
Grab our taster mock exam paper for CII R01. Click here to download.
- A – See R02 Study Text, Chp 1:1
Grab our taster mock exam paper for CII R02. Click here to download.
- B – See R03 Study Text, Chp 7
Grab our taster mock exam paper for CII R03. Click here to download.
- B – See R04 Study Text, Chp 3
Grab our taster mock exam paper for CII R04. Click here to download.
- C – 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?
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