Friday Five – 9 August – 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.
IMPORTANT! These questions relate to examinable tax year 2018/19, examinable by the CII until 31 August 2019. They do not relate to tax year 2019/20 which is only examinable by the CII from 1 September 2019.
- Who would be deemed as having a restricted capacity to contract?
i) Someone under the age of 18 ii) Someone with a mental health condition iii) Someone deemed to have limited experience iv) Someone who is drunk
- i only
- i and ii only
- i and iii only
- i, ii and iv only
- Which of the main overseas equity indices are value-weighted? Tick all that apply.
- Dow Jones Industrial
- S & P 500
- Nikkei 225
- DAX 30
- Hang Seng Index
- Pauline died on 1st October 2018. Who will be responsible for the payment of any Inheritance Tax due on her estate, and when is it payable?
- Pauline’s legal personal representatives must pay any tax due by the 30th April 2019
- Pauline’s next of kin must pay any tax due by the 5th April 2019
- Pauline’s beneficiaries must pay any tax due by the 5th April 2019
- Pauline’s trustees must pay any tax due by the 1st October 2019
- Which type of pension arrangement will ALWAYS provide benefits via a Scheme Pension?
- Retirement Annuity
- Occupational Defined Benefit
- Small Self-Administered Scheme
- Occupational Money Purchase
- John assigns a qualifying endowment policy set up in 2011 with premiums of £500 per month to his 21-year-old son on 6th April 2018. His son must complete and return a written statement to the provider to determine whether it is non-qualifying or a restricted relief qualifying policy by the:
- 6th May 2018
- 6th July 2018
- 31st July 2018
- 30th October 2018
- D – See R01 Study Text, Chp 3
Grab our taster mock exam paper for CII R01. Click here to download.
- BDE – See R02 Study Text, Chp 1:2
Grab our taster mock exam paper for CII R02. Click here to download.
- A – 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.
- B – See R05 Study Text, Chp 5
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?
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