Friday Five – 28 April – 5 Questions in 5 Minutes
Last updated on September 25th, 2019 at 4:31 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
IMPORTANT! These questions relate to examinable tax year 2016/17, examinable by the CII until 31 August 2017. They do not relate to tax year 2017/18 which is only examinable by the CII from 1 September 2017.
- Within the FCA handbook, under ‘Threshold Conditions’ what is the rule around location of offices?
- The registered office must be within the EEA
- The head office and registered office must be within the EEA if the body corporate is constituted under the law of any part of the UK
- A regulated firm must provide an address that they have held for 5 years
- The head office and registered office must be in the UK if the body corporate is constituted under the law of any part of the UK
- Alex has recently bought £5,400 worth of shares through an online platform provider. Which of the following is he liable for?
- Stamp duty of £30
- Stamp duty of £27
- Stamp duty reserve tax of £30
- Stamp duty reserve tax of £27
- Alan used his £300,000 pension fund to buy a pension protected annuity. The annuity was £18,000pa payable annually in arrears. Alan died age 72, having received 12 payments to that point. The annuity protection lump sum his dependants would receive is:
- £54,600.
- £84,000.
- £37,800.
- £126,900.
- Who has to prove that a CIC claim is payable?
- The life office
- The policyholder
- The policyholder or their spouse
- The personal representatives of the policyholder
- Serena bought £1,000 nominal value of 7% treasury stock which is due to be repaid in exactly 5 years’ time. It’s currently priced at £119.20. Based on this information, what is the stock’s approximate gross redemption yield?
- 2.65%
- 3.22%
- 5.87%
- 8.52%
Answers
- D – See R01 Study Text, Chp 5:2
Grab our taster mock exam paper for CII R01. Click here to download.
- D – See R03 Study Text, Chp 7
Grab our taster mock exam paper for CII R03. Click here to download.
- B – See R04 Study Text, Chp 6:1
Grab our taster mock exam paper for CII R04. Click here to download.
- B – See R05 Study Text, Chp 7
Grab our taster mock exam paper for CII R05. Click here to download.
- A – See J10 Study Text, Chp 2:1
Grab our taster mock exam paper for CII J10. 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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