Friday Five – 4 September 2015 – 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.
- What is the Information Commissioner’s Office’s main duty?
- To ensure that the Data Protection Act is updated e.g. to cover text messages
- To levy fines on those failing to comply with the Data Protection Act
- To ensure consumers are able to access information
- To oversee compliance of the Data Protection Act
- What does a negative Information ratio indicate?
- That the investor would have been better investing in cash
- That the investor would have been better investing in a tracker fund
- That the manager has added maximum value through active management
- That the benchmark return was a negative figure
- When considering investing in a Venture Capital Trust (VCT), investors should be aware that: Tick all that apply
- income tax relief is withdrawn if the shares are disposed of within 3 years
- the company must not be a close company
- it can be listed on any EEA stock exchange
- the disposal of VCT shares are potentially liable to CGT at 18%
- Which of the following statements is a drawback of using the multiple of salary basis to calculate the amount of key person insurance required by a company?
- It does not take account of the key person’s age
- It can only be based on a multiple of 5
- It is only loosely related to the key person’s contribution to profits
- It only takes a short-term time factor into account
- The investment strategy that aims to achieve high returns by going against the trend is known as:
- D – See R01 Study Text, Chp 4 Section D3
Grab our taster mock exam paper for CII R01. Click here to download.
- B – See J10 Study Text, Chp 9 Section C3
Grab our taster mock exam paper for CII J10. Click here to download.
- B, C – See R03 Study Text, Chp 10 Section K
Grab our taster mock exam paper for CII R03. Click here to download.
- C – See R05 Study Text, Chp 10.2 Section H3A
Grab our taster mock exam paper for CII R05. Click here to download.
- A – See J12 Study Text, Chp 4 Section F1
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!)