Friday Five – 6 January – 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 2016/17, examinable until 31 August 2017.

1. Which of the following is responsible for watching for emerging risks to the financial system and providing strategic direction for the regulatory regime?
   1. HM Treasury
   2. The Bank of England
   3. The Financial Policy Committee
   4. The Financial Conduct Authority

2. Joshua is aged 40 and has earnings in this tax year of £115,000. What is his total liability to Income Tax?
   1. £31,800
   2. £35,200
   3. £38,200
   4. £39,600

3. In 2015/16 Joy’s pension input into her SIPP was £5,000 in the pre-alignment tax year and £20,000 in the post-alignment tax year. What is the maximum amount that Joy can carry forward from 2015/16?
   1. £15,000.
   2. £20,000.
   3. £35,000.
   4. £55,000.

4. Sean has an income protection policy with a deferred period of 13 weeks. When should he notify the insurance company in the event that he becomes incapacitated and needs to make a claim?
   1. As soon as possible
   2. After 13 weeks
   3. 4 weeks before the end of the deferred period
   4. No later than 30 days after his incapacity starts

5. Hydro is a company involved in developing alternative energy sources. This is of interest to ethical funds who adopt which approach to screening?
   1. Negative screening
   2. Avoidance screening
   3. Positive screening
   4. Green screening

Answers

1. C – See R01 Study Text, Chp 4
   Grab our taster mock exam paper for CII R01. Click here to download.

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

3. B – See R04 Study Text, Chp 2.1
   Grab our taster mock exam paper for CII R04. Click here to download.

4. A – See R05 Study Text, Chp 6
   Grab our taster mock exam paper for CII R05. Click here to download.

5. 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?

Do let us know by leaving a comment below – we promise to read them all. (Humour particularly appreciated on a Friday!)