Friday Five – 20 July – 5 Questions in 5 Minutes
Last updated on September 25th, 2019 at 4:20 am
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 2017/18, examinable by the CII until 31 August 2018. They do not relate to tax year 2018/19 which is only examinable by the CII from 1 September 2018.
- Under the FCA’s three-pillar supervision model, the majority of firms are classified as:
- Fixed portfolio firms
- Flexible portfolio firms
- Category 1 firms
- Category 4 firms
- What is a limitation of using company investment ratios?
- In a take-over, ratios can’t help shareholders assess if assets are being given away too cheaply
- Ratios can’t provide meaningful comparisons with similar same sector companies
- They can’t highlight any areas of a company that may require further scrutiny
- Accounting policies could change over time, making historical comparisons misleading
- Sylvia is hoping to make up a significant gap in her National Insurance record by paying Class 3 contributions. Which of the following must she be aware of?
- She must satisfy a residence condition
- They do not increase entitlement to State pension
- The contributions are collected weekly by demand
- She can make class 3 contributions after she reaches State pension age
- Which of the following lump-sum death benefits is only payable from a scheme pension that arises from a defined benefit scheme?
- A defined benefits lump-sum death benefit.
- A pension protection lump sum.
- An annuity protection lump sum.
- An uncrystallised lump sum.
- In which of the following circumstances might an income protection policy provider pay a commuted lump sum rather than continue paying the benefits on a regular basis?
- Where the insured is not expected to recover from their incapacity
- Where the insured has a life expectancy of less than 6 months
- Where the insured recovered from a condition initially expected to be terminal
- Where the insured is aged over 55 at the time of the first claim
- B – See R01 Study Text, Chp 5:1
Grab our taster mock exam paper for CII R01. Click here to download.
- D – See R02 Study Text, Chp 1:2
Grab our taster mock exam paper for CII R02. Click here to download.
- A – See R03 Study Text, Chp 2
Grab our taster mock exam paper for CII R03. Click here to download.
- B – See R04 Study Text, Chp 6.1
Grab our taster mock exam paper for CII R04. Click here to download.
- A – 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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