Friday Five – 2 October – 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.
- How would you describe the impact of the EU on UK regulation?
- UK financial services are not subject to regulations imposed by the EU
- A limited amount of UK financial services regulation originates from the EU
- UK financial services regulation is solely derived from the EU
- Around 70% of the FCA’s policy making is driven by EU initiatives
- An investment has a high standard deviation around the expected return. What does this tell us about the investment?
- The investment would be classed as low risk
- The investment has low correlation with other asset classes
- The investment is producing returns broadly in line with expectations
- The investment would be considered volatile and risky
- Alex has recently bought £5,400 worth of shares through an online platform provider. Which of the following is he liable for?
- Stamp duty of £30
- Stamp duty of £27
- Stamp duty reserve tax of £30
- Stamp duty reserve tax of £27
- In deciding to draw income under a drawdown pension, your client should be aware that: Tick all that apply.
- Any pension commencement lump sum must be taken at outset.
- The minimum income requirement for flexi-access drawdown is £10,000.
- Taking more than the maximum permitted income from capped drawdown will trigger the MPAA.
- Capped drawdown reviews will take place every three years before age 75 and annually thereafter.
- Both capped and flexi-access drawdown pension can take the form of short-term annuities.
- A comprehensive Private Medical Insurance policy will sometimes provide cover for which of the following in the context of long term care provision? .
- Home Nursing
- The cost of treatment for long term incurable conditions
- D – See R01 Study Text, Chp 1 Section C
Grab our taster mock exam paper for CII R01. Click here to download.
- D – See R02 Study Text, Chp 3 Section A1
Grab our taster mock exam paper for CII R02. Click here to download.
- D – See R03 Study Text, Chp 7 Section B
Grab our taster mock exam paper for CII R03. Click here to download.
- A, C, D, E – See R04 Study Text, Chp 6:2 Section E1A
Grab our taster mock exam paper for CII R04. Click here to download.
- A – See CF8 Study Text, Chp 4 Section B2A
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!)