Friday Five – 7 September – 5 Questions in 5 Minutes
Last updated on September 25th, 2019 at 4:20 am
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 2018/19, examinable until 31 August 2019.
- Deliberately not paying due regard to the interests of a customer does not comply with which Statement of Principle?
- Organisation and control
- Market conduct
- Open and co-operative
- Which of the following properties would present the best opportunity for a potential residential property investment in terms of rental yield and long-term capital growth?
- A 5-bedroom townhouse
- A 2-bedroom 200-year-old cottage
- A 3-bed modern house with a 5-year rental agreement
- A 2-bed modern semi
- Amelia makes a transfer into a discretionary trust of £500,000 after exemptions for the benefit of her four grandchildren. What Inheritance Tax is now due on this transfer assuming the trustees pay the tax?
- At A-day Freda opted for Primary Protection. She chose this route because:
- it was possible the Lifetime allowance could be breached in the future.
- her fund was in excess of £1.5 million.
- her fund was less than £1.5 million.
- she wanted assurance that a Lifetime Allowance charge would never apply.
- What is the advantage from an income tax point of view of a pre-funded long-term care insurance policy?
- Benefits can be paid free of tax to either policyholder or care provider
- Policy fund accumulates tax free
- Benefits can be paid tax free if paid directly to care provider
- Premiums qualify for basic rate tax relief
- B – See R01 Study Text, Chp 9
Grab our taster mock exam paper for CII R01. Click here to download.
- D – See R02 Study Text, Chp 1:2
Grab our taster mock exam paper for CII R02. Click here to download.
- C – See R03 Study Text, Chp 4
Grab our taster mock exam paper for CII R03. Click here to download.
- B – See R04 Study Text, Chp 2:2
Grab our taster mock exam paper for CII R04. Click here to download.
- A – See CF8 Study Text, Chp 5
Grab our taster mock exam paper for CII CF8. 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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