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Friday Five – 25 September – 5 Questions in 5 Minutes

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.

Questions

IMPORTANT! These questions relate to examinable tax year 2020/21, examinable by the CII until 31 August 2021.

  1. What is the maximum fine The Pensions Regulator can impose on a company for breaching the law?
    1. £500,000
    2. £100,000
    3. £50,000
    4. £5,000
  1. 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?
    1. A Personal Pension and Junior ISA
    2. A Junior ISA and a Child Trust Fund
    3. A Child Trust Fund and a Personal Pension
    4. A Junior ISA and a Friendly Society Plan
  1. 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:
    1. drag.
    2. gain.
    3. cross-subsidy.
    4. factor.
  1. 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?
    1. Class 1
    2. Class 2
    3. Class 3
    4. Class 4
  1. 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.
    1. 8.43%
    2. 13.25%
    3. 21.69%
    4. 33.23%

 

Answers

  1. C – See R01 Study Text, Chp 4
    Grab our taster mock exam paper for CII R01. Click here to download.
  1. A – See R03 Study Text, Chp 11
    Grab our taster mock exam paper for CII R03. Click here to download.
  1. A – See R04 Study Text, Chp 8
    Grab our taster mock exam paper for CII R04. Click here to download.
  1. B – See R05 Study Text, Chp 6
    Grab our taster mock exam paper for CII R05 Click here to download.
  1. 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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