Friday Five – 25 September – 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 2020/21, examinable by the CII until 31 August 2021.
- What is the maximum fine The Pensions Regulator can impose on a company for breaching the law?
- Maureen wants to invest tax-efficiently for her daughter born in June 2020. 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
- Ricky is approaching retirement and has decided to opt for flexi-access drawdown rather than buying an annuity. His adviser should make him aware that he will suffer mortality:
- Jennifer, who works in the hotel and catering industry as a housekeeper, is applying for an income protection policy. In which occupational class will she be placed for the calculation of her premium rate?
- Class 1
- Class 2
- Class 3
- Class 4
- If a convertible preference share is priced at 90p and can be converted into the company’s ordinary shares at a conversion ratio of 5:1, what is the conversion premium? The ordinary shares are priced at 415p.
- C – See R01 Study Text, Chp 4
Grab our taster mock exam paper for CII R01. Click here to download.
- A – See R03 Study Text, Chp 11
Grab our taster mock exam paper for CII R03. Click here to download.
- A – See R04 Study Text, Chp 8
Grab our taster mock exam paper for CII R04. Click here to download.
- B – See R05 Study Text, Chp 6
Grab our taster mock exam paper for CII R05 Click here to download.
- A – See J12 Study Text, Chp 1
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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