Friday Five – 8 February – 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 2018/19, examinable until 31 August 2019.
- If a solicitor assisted a client with a claim on a life policy would FCA authorisation be required?
- Yes, as this type of work is classed as a regulated activity
- No, as long as it was a one-off activity
- Yes, as the client will have received advice
- No, this is classed as incidental to their professional services
- Thomas is an additional rate taxpayer and makes a gift aid payment of £5,000 to a charity. How much can the charity reclaim from HMRC?
- Under his capped drawdown arrangement Terry is now considering the purchase of a short-term annuity. He should be aware that: Tick all that apply.
- they will only be available from the provider of his capped drawdown fund.
- the annuity must be paid at least annually.
- the annuity cannot have a term longer than five years.
- the annuity can be guaranteed during its term.
- Irene has taken out an income protection policy. If she becomes incapacitated and unable to work, when will her benefits be paid?
- After a deferred period chosen by her
- From day one of her claim
- After a deferred period stated by the insurer
- If she is incapacitated for a continuous period of 3 months or more
- With regard to the use of tactical allocation models in managing investment portfolios, which of the following statements can be said to be true?
- They are more often applied by advisory managers than discretionary fund managers
- Where markets are buoyant, this could involve adding exposure to emerging markets
- If the investment manager’s view is bullish, they could buy put options or go short stock futures
- If the investment manager’s view is bearish, this could involve more exposure to longer duration bonds
- D – See R01 Study Text, Chp 6
Grab our taster mock exam paper for CII R01. Click here to download.
- C – See R03 Study Text, Chp 1
Grab our taster mock exam paper for CII R03. Click here to download.
- CD – See R04 Study Text, Chp 6:2
Grab our taster mock exam paper for CII R04. Click here to download.
- A – See R05 Study Text, Chp 6
Grab our taster mock exam paper for CII R05. Click here to download.
- B – See J10 Study Text, Chp 3
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?
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