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Friday Five – 6 November – 5 Questions in 5 Minutes

Friday Five – 6 November – 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 2015/16, examinable until 31 August 2016.

  1. How do unit trusts and investment trusts differ?
    1. Regular monthly investment can only be made via a unit trust
    2. There is greater fund choice via a unit trust
    3. An investment trust is closed ended while a unit trust is open ended
    4. Unit trusts are generally used for short to medium term investments, whereas investment trusts are used for long-term investments
  1. What tends to happen to the correlation of asset classes in major economic downturns?
    1. It gets higher
    2. It gets lower
    3. It stays the same
    4. It fluctuates wildly
  1. Gillian has recently invested £20,000 into each of the following investments; UK listed shares, a Corporate Bond and a UK domiciled Exchange Traded Fund. What amount of Stamp Duty Reserve Tax will Gillian pay in total?
    1. Nil
    2. £100
    3. £200
    4. £300
  1. Evelyn wishes to make a complaint against her former employer in relation to incorrect administration of the occupational pension scheme. Who should she complain to?
    1. The Pensions Advisory Service.
    2. The Pensions Ombudsman.
    3. The Pensions Regulator.
    4. The Financial Ombudsman Service.
  1. Benefits from income protection policies will normally be paid where the insured is permanently resident within areas known as:
    1. Stated territories
    2. Non-exclusion zones
    3. Included countries
    4. Free limits

 

Answers

  1. C – See R01 Study Text, Chp 2 Section B6B
    Grab our taster mock exam paper for CII R01. Click here to download.

 

  1. A – See J10 Study Text, Chp 3 Section A1A
    Grab our taster mock exam paper for CII J10. Click here to download.

 

  1. B – See R03 Study Text, Chp 7 Section B
    Grab our taster mock exam paper for CII R03. Click here to download.

 

  1. B – See R04 Study Text, Chp 3.1 Section B1B
    Grab our taster mock exam paper for CII R04. Click here to download.

 

  1. D – See R05 Study Text, Chp 6 Section E4
    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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