Friday Five Focus on Protection – 1 December – 5 Questions in 5 Minutes

Friday Five Focus on Protection – 5 Questions in 5 Minutes Every Friday
What’s this all about?
Each week, we ask questions relating to one of these topics: Investments, Taxation, Pensions, Protection, or Regulation. This week, our Friday Five is relevant to Protection; this is useful as you prepare for the CII’s R05 exam. The challenge is for you to answer them in 5 minutes. Answers at the bottom of the page.
Questions
IMPORTANT! These questions relate to examinable tax year 2023/24, examinable by the CII until 31 August 2024.
- Income support can be claimed by individuals between the ages of
- 16 and 64.
- 16 and State pension age.
- 18 and State pension age.
- 18 and 65.
- Shona has been advised to take out an increasing term assurance as protection for her dependants. The reason for this would be to ensure the
- sum assured keeps pace with inflation.
- premium increases are in line with salary increases each year.
- original sum assured can be maintained over the term of the policy.
- premiums and the sum assured rise in line with interest rates.
- Benefits from income protection policies will normally be paid where the insured is permanently resident within areas known as
- stated territories.
- non-exclusion zones.
- included countries.
- free limits.
- George has a term assurance policy that includes terminal illness benefit. If he makes a claim, it will be paid if the life office decides that his life expectancy is less than
- 6 months.
- 9 months.
- 12 months.
- 20 months.
- The Free Asset Ratio (FAR) of a life office gives an indication of
- annual new business.
- future profit.
- pay claim history.
- financial strength.
Answers
- B – See R05 Study Text, Chp 3
Grab our taster mock exam paper for CII R05. Click here to download.
- A – See R05 Study Text, Chp 4
Grab our taster mock exam paper for CII R05. Click here to download.
- D – See R05 Study Text, Chp 6
Grab our taster mock exam paper for CII R05. Click here to download.
- C – See R05 Study Text, Chp 4
Grab our taster mock exam paper for CII R05 Click here to download.
- D – See R05 Study Text, Chp 10
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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