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Friday Five – 21 August 2015 – 5 Questions in 5 Minutes

Friday Five – 21 August 2015 – 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
These questions relate to examinable tax year 2014/15, examinable until 31 August 2015.

  1. Following 18 months of membership. Neil is leaving his firm’s occupational money purchase scheme. At the point of leaving he had contributed £24,000 gross; a figure matched by the employer. Neil, a higher rate taxpayer, may be offered a net refund of:
    1. £18,000.
    2. £14,400.
    3. £28,800.
    4. £36,000.
  1. What are the risks associated with investing directly in property?
    1. The time needed to buy or sell, void periods and interest rate rises
    2. Property is regarded as the most volatile asset class
    3. Payment on surrender can be delayed for up to 6 months
    4. Most investors are inexperienced in investing in commercial property
  1. Amy has telephoned her bank for mortgage advice. How may the initial disclosure requirement be met?
    1. Electronically
    2. In writing
    3. Orally
    4. By post
  1. Which of the following is one of the main types of security traded in the money markets?
    1. Traded endowments
    2. Exchanged traded funds
    3. Derivatives
    4. Commercial bills
  1. Simon makes payments to his occupational pension scheme by deduction from his pay. What is this method known as?
    1. Net pay arrangement
    2. Relief at source
    3. Gross pay arrangement
    4. Relief by claim

 

Answers

  1. A – See R04 Study Text, Chp 5 Section D1A
    Grab our taster mock exam paper for CII R04. Click here to download.

 

  1. A – See R01 Study Text, Chp 2 Section B6B
    Grab out taster mock exam paper for CII R01. Click here to download.

 

  1. C – See R07 Study Text, Chp 2 Section C4A
    Grab our taster mock exam paper for CII R07. Click here to download.

 

  1. D – See R02 Study Text, Chp 1.1 Section A5B
    Grab our taster mock exam paper for CII R02. Click here to download.

 

  1. A – See R03 Study Text, Chp 1 Section F3
    Grab our taster mock exam paper for CII R03. 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!)

 

 

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