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Friday Five – 28 September – 5 Questions in 5 Minutes

Friday Five – 28 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

These questions relate to examinable tax year 2018/19, examinable until 31 August 2019.

  1. Financial Stability is an objective for which of the following?
    1. The Bank of England
    2. The FCA
    3. HM Treasury
    4. All of the above
  1. James has bought some fixed interest stock and received the full 6 months’ interest, even though the stock was owned by him for less than the entire period. What is this referred to as?
    1. Ex-dividend
    2. Cum dividend
    3. Dirty price
    4. Clean price
  1. Elaine invested £10,000 into a cash ISA on the 1st July 2018. She then took 4 separate withdrawals of £1,000 each. How much can she invest in the ISA prior to the end of the tax year?
    1. £10,000
    2. £14,000
    3. £16,000
    4. £20,000
  1. Chan is 59 and approaching retirement. He is considering his options regarding his pension arrangements and is interested in phasing benefits. Which approach would he NOT be able to take when seeking to do this?
    1. Phased flexible annuity purchase.
    2. Phased capped drawdown.
    3. Phased flexi-access drawdown.
    4. The phased taking of UFPLS.
  1. Carla aged 20 cares for her disabled mother who receives disability living allowance. She applied for carer’s allowance, but her claim was refused. This was because:
    1. Carla is under age 21
    2. Carla has net earnings of £75 per week
    3. Carla’s mother is receiving another state benefit
    4. Carla is on a full-time course at college

 

Answers

  1. D – See R01 Study Text, Chp 5:1
    Grab our taster mock exam paper for CII R01. Click here to download.

 

  1. B – See R02 Study Text, Chp 1:1
    Grab our taster mock exam paper for CII R02. Click here to download.

 

  1. B – See R03 Study Text, Chp 12
    Grab our taster mock exam paper for CII R03. Click here to download.

 

  1. B – See R04 Study Text, Chp 6:2
    Grab our taster mock exam paper for CII R04. Click here to download.

 

  1. D – See R05 Study Text, Chp 3
    Grab our taster mock exam paper for CII R05. 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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