Friday Five – 23 August – 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.
IMPORTANT! These questions relate to examinable tax year 2018/19, examinable by the CII until 31 August 2019. They do not relate to tax year 2019/20 which is only examinable by the CII from 1 September 2019.
- Under COBS 2, providers can run training for intermediaries but what is the position regarding paying expenses?
- They cannot pay expenses
- They can pay ‘reasonable’ expenses
- They can pay up to £250 per annum
- They can cover the cost of refreshments
- When comparing the money-weighted rate of return (MWR) with the time-weighted rate of return, which of the following statements are correct? Tick all that apply.
- MWR measures the overall return on capital invested over a specific period
- MWR allows comparisons to be made of the performance of one manager with another
- TWR breaks the period being assessed down into sub-periods
- TWR is sometimes also known as the internal rate of return
- Maureen wants to invest tax efficiently for her daughter born in June 2018. Which of the following products would best enable her to do this?
- A Personal Pension and Junior ISA
- A Junior ISA and a Child Trust Fund
- A Child Trust Fund and a Personal Pension
- A Junior ISA and a Friendly Society Plan
- Defined benefit schemes represent an open-ended liability for employers, but which factor does not directly contribute to their potential liability?
- Age and marital status of the members.
- Number of deaths prior to retirement.
- Returns of the underlying investments.
- Company profits.
- Which of the following is not an argument in favour of taking out private medical insurance?
- It is more suitable for a patient with a chronic medical condition
- Avoids long waiting lists for NHS treatment
- Patient is normally able to choose their own hospital and surgeon
- Likely to have a private room rather than be on a general ward
- B – See R01 Study Text, Chp 5:2
Grab our taster mock exam paper for CII R01. Click here to download.
- AC – See R02 Study Text, Chp 9
Grab our taster mock exam paper for CII R02. Click here to download.
- A – See R03 Study Text, Chp 11
Grab our taster mock exam paper for CII R03. Click here to download.
- D – See R04 Study Text, Chp 4
Grab our taster mock exam paper for CII R04. Click here to download.
- A – See R05 Study Text, Chp 9
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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