Friday Five – 23 March – 5 Questions in 5 Minutes
Last updated on September 25th, 2019 at 4:23 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.
Questions
These questions relate to examinable tax year 2017/18, examinable until 31 August 2018.
- What criminal offences were created in the Proceeds of Crime Act 2002 as part of the UK’s fight against money laundering? Tick all that apply.
- Disguising criminal property
- Removing criminal property from the UK
- Allowing policyholders to surrender investment bonds within 30 days
- Failing to disclose suspected cases of money laundering in the regulated sector
- Allowing individuals to transfer their pension fund proceeds to an overseas bank
- Dave, an additional rate taxpayer has received a dividend distribution of £144 from his OEIC. Assuming he has utilised his dividend allowance, his tax liability will be:
- Nil
- £54.86
- £60.96
- £64.80
- Gillian has recently invested £20,000 into each of the following investments; UK listed shares, a Corporate Bond and a UK domiciled Exchange Traded Fund. What amount of Stamp Duty Reserve Tax will Gillian pay in total?
- Nil
- £100
- £200
- £300
- In addition to defined contribution pension rights, Frank enjoys the benefits of an employer-sponsored Group PHI plan. Should Frank become disabled:
- his pension scheme membership will continue.
- tax relief on pension contributions will be available up to £3,600 per annum.
- any PHI income will be paid tax-free.
- the defined contribution pension is effectively made “paid up” for the duration of Frank’s illness.
- Which of the following may be able to provide access to low cost housing or sheltered homes?
- Home improvement agencies
- Housing associations
- The NHS
- Age UK
Answers
- ABD – See R01 Study Text, Chp 6
Grab our taster mock exam paper for CII R01. Click here to download.
- B – See R02 Study Text, Chp 6:1
Grab our taster mock exam paper for CII R02. Click here to download.
- B – See R03 Study Text, Chp 7
Grab our taster mock exam paper for CII R03. Click here to download.
- A – See R04 Study Text, Chp 5
Grab our taster mock exam paper for CII R04. Click here to download.
- B – See CF8 Study Text, Chp 4
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!)
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