Friday Five – 29 June – 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 2017/18, examinable by the CII until 31 August 2018. They do not relate to tax year 2018/19 which is only examinable by the CII from 1 September 2018.
- A materiality assessment involves standing back from a firm and seeing it as how others might see it. With which of the following is a materiality assessment most closely associated?
- Ethics codes
- Fair treatment of customers
- Corporate social responsibility
- Fit and proper requirements
- Jack is aged 68 and has worked for the same employer for over 40 years. Which of the following statements regarding National Insurance Contributions is correct?
- They are deducted from his pay before calculating his income tax liabilities
- They are based on the tax year
- He no longer has to pay them, although his employer will
- Neither Jack nor his employer are required to pay them
- Tommy finds that the Primary protection that he registered for has been lost. The likely reason for this is:
- his divorce has caused a pension debit reducing his fund to less than £1.5m.
- poor investment performance has taken his funds below £1.5m.
- he has resumed active contributions to his plans.
- he has crystallised some of his pension plans.
- Neil’s critical illness policy has been set up on a reviewable basis. Which of the following is the new rate based on when the reviews are undertaken?
- The policyholder’s health
- The policyholder’s age
- Claims experience of the insurer
- Changes in the amount of claims made within the industry What are the alternatives for a company facing liquidation?
- Hydro is a company involved in developing alternative energy sources. This is of interest to ethical funds who adopt which approach to screening?
- Negative screening
- Avoidance screening
- Positive screening
- Green screening
- C – See R01 Study Text, Chp 10
Grab our taster mock exam paper for CII R01. Click here to download.
- C – See R03 Study Text, Chp 2
Grab our taster mock exam paper for CII R03. Click here to download.
- A – See R04 Study Text, Chp 2.2
Grab our taster mock exam paper for CII R04. Click here to download.
- C – See R05 Study Text, Chp 7
Grab our taster mock exam paper for CII R05. Click here to download.
- C – See J10 Study Text, Chp 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?
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