Friday Five – 24 February – 5 Questions in 5 Minutes
Last updated on September 25th, 2019 at 4:32 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.
- Which of the following does not require a cancellation notice to be sent?
- A critical illness policy with a 5-year term
- An income protection policy with a 2-year term
- A life policy with a 5-month term
- A life policy with a 1-year term
- Which of the following statements relating to the trading of bonds in the secondary market are true? Tick all that apply.
- New York is the world’s leading centre for bond trading
- A Eurobond is an international bond, denominated in a currency other than that of the country where it is issued
- The UK Government is the biggest borrower in the UK bond market
- Of the four major markets, only two are sterling markets
- Which of the following is most likely to be classed as a gift with reservation for IHT purposes by HMRC?
- Simon gives away his holiday home to his sister but continues to stay there paying full market rent
- Elaine gives away her antique jewellery to her daughter but cleans it annually
- Edmond gives his son his share portfolio but retains the right to dividends from it
- Andrea gives her antique chairs to her brother but always sits on them when she visits
- The minimum level of contribution for auto-enrolment purposes once fully phased in is:
- 13% of total earnings.
- 10% of qualifying earnings.
- 9% of total earnings.
- 8% of qualifying earnings.
- What is normally required by a lender before they offer a customer a “borrow back” facility on a lifetime mortgage?
- The customer moving permanently to a residential home
- The loan to value being less than 25%
- The customer having a history of overpaying on a consistent basis
- The mortgage being on a fixed rate
- C – See R01 Study Text, Chp 5:2
Grab our taster mock exam paper for CII R01. Click here to download.
- BC – See R02 Study Text, Chp 1:1
Grab our taster mock exam paper for CII R02. Click here to download.
- C – See R03 Study Text, Chp 4
Grab our taster mock exam paper for CII R03. Click here to download.
- D – See R04 Study Text, Chp 3
Grab our taster mock exam paper for CII R04. Click here to download.
- C – See ER1 Study Text, Chp 5
Grab our taster mock exam paper for CII ER1. 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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