Friday Five – 23 September – 5 Questions in 5 Minutes
Last updated on September 25th, 2019 at 4:36 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.
These questions relate to examinable tax year 2016/17, examinable until 31 August 2017.
- If a firm passes mortgage leads to an authorised person for a fee, does that firm require FCA authorisation?
- No authorisation is required as the introducer is not advising the client
- Yes, if they receive payment for leads they must have FCA authorisation
- Yes, the principle at the introducing firm must hold FCA authorisation
- No, as long as the introducer is paid for leads no authorisation is required
- How do exchange traded funds (ETFs) differ from exchange traded notes (ETNs)?
- ETNs have a maturity date
- ETFs are traded on major stock markets
- ETNs performance track the movement of an index
- ETFs give access to specialist market niches
- Florence has recently become self-employed. She is aware that she will have to pay National Insurance contributions but wants to know how. You tell her that:
- Class 2 and class 4 are normally paid by monthly direct debit
- Class 2 is included with the income tax self-assessment and class 4 is normally paid by monthly direct debit
- Class 2 and class 4 are included with the income tax self-assessment
- Class 2 is normally paid by monthly direct debit and class 4 is included with the income tax self-assessment
- Simon has decided to make his own investment decisions and has implemented a Self-Invested Personal Pension (SIPP). This will allow him to use the plan as: Tick all that apply
- a route to invest in commercial property.
- a way of making loans to his limited company.
- a platform to operate income withdrawals through drawdown.
- funding for his buy to let properties.
- Which of the following shares get first call on an investment trust’s assets once any borrowing has been repaid?
- Zero dividend preference shares
- Capital shares
- Income shares
- Distribution shares
- A – See R01 Study Text, Chp 5:2, Section H3A
Grab our taster mock exam paper for CII R01. Click here to download.
- A – See R02 Study Text, Chp 6:2, Section I
Grab our taster mock exam paper for CII R02. Click here to download.
- C – See R03 Study Text, Chp 2, Section B3
Grab our taster mock exam paper for CII R03. Click here to download.
- AC – See R04 Study Text, Chp 8, Section B6
Grab our taster mock exam paper for CII R04. Click here to download.
- A – See J12 Study Text, Chp 4, Section B1C
Grab our taster mock exam paper for CII J12. 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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