Friday Five – 22 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 2018/19, examinable until 31 August 2019.
- Which of the following is one of the “three certainties” required for a trust to be valid?
- Perpetuity period
- Name of trustees
- Subject matter
- Accumulation period
- A corporate bond fund pays interest distributions:
- net of 20% income tax
- net of 10% income tax
- net of 10% savings tax
- without a tax deduction
- Geraldine died in the 2004/2005 tax year using 40% of the then standard nil rate band for IHT of £263,000. If her husband dies in this tax year, how much standard nil rate band can be applied for by his personal representatives?
- Annuity rates have fallen in recent years due to the fact that people are living for longer and also because of:
- falling gilt yields.
- rising equity prices.
- lower charges.
- higher inflation.
- Caroline held an own life with-profits life assurance policy. On her death, the amount payable on the claim will vary depending on which of the following factors?
- The amount of premiums paid over the term
- Her age
- The sum assured
- The exact date of death
- C – See R01 Study Text, Chp 3
Grab our taster mock exam paper for CII R01. Click here to download.
- D – See R02 Study Text, Chp 6:1
Grab our taster mock exam paper for CII R02. Click here to download.
- D – See R03 Study Text, Chp 4
Grab our taster mock exam paper for CII R03. Click here to download.
- A – See R04 Study Text, Chp 1
Grab our taster mock exam paper for CII R04. Click here to download.
- D – See R05 Study Text, Chp 4
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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