Friday Five – 4 December – 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.
These questions relate to examinable tax year 2015/16, examinable until 31 August 2016.
- Who would the term bankruptcy apply to?
- Individuals only
- Companies and individuals
- Sole traders only
- Sybil is invested in a property authorised investment fund (PAIF). How will she receive any interest?
- Gross and not taxable
- Gross and taxable at basic rate
- Paid net of basic rate tax
- Paid net of 10% tax
- Phil is buying a residential property for £275,000 and has agreed with the seller that this includes £5,000 for carpets and curtains. How much Stamp Duty Land Tax is payable by Phil?
- Bob registered his £1.65m pension fund for Primary protection. Assuming he drew all his benefits in 2015/16, he will be entitled to a personal lifetime allowance of:
- Best execution for a retail client is judged by:
- the price and costs
- the price and speed
- the costs and likelihood of execution
- likelihood of execution and settlement
- A – See R01 Study Text, Chp 3 Section F
Grab our taster mock exam paper for CII R01. Click here to download.
- C – See R02 Study Text, Chp 6:2 Section J2A
Grab our taster mock exam paper for CII R02. Click here to download.
- A – See R03 Study Text, Chp 7 Section A
Grab our taster mock exam paper for CII R03. Click here to download.
- C – See R04 Study Text, Chp 2.2 Section F1
Grab our taster mock exam paper for CII R04. Click here to download.
- A – See J12 Study Text, Chp 6 Section B2A
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?
Do let us know by leaving a comment below – we promise to read them all. (Humour particularly appreciated on a Friday!)