Friday Five Focus on Protection – 27 October – 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.
- After a full review an adviser has recommended to their client that they take out both term assurance cover and income protection insurance. The client only agrees to the term assurance cover. What is best practice as to how the adviser should proceed?
- Proceed with the term assurance but ask the client to confirm in writing that they did not want the income protection insurance.
- Advise the client that they are unable to act for them anymore.
- Refuse to proceed unless the client accepts the full recommendation.
- Take no action and suggest that the matter is looked at in the next review meeting.
- Improving trends in mortality mean which of the following is the biggest concern for most people?
- The rise in morbidity rates.
- The increasing number of people with cancer.
- Dying prematurely.
- Living longer than expected.
- Which of the following documents gives the executors of a deceased’s estate proof of title to a life assurance policy?
- Grant of probate.
- Policy document.
- Death certificate.
- A solicitor’s letter.
- Which of the following is a form of decreasing term assurance?
- Convertible term assurance.
- Flexible whole of life.
- Maximum investment plan.
- Family income benefit.
- Evelyn has just taken out a new mortgage and is interested in taking out mortgage payment protection insurance. For how long must the lender wait before they can set this up?
- 3 days.
- 7 days.
- 14 days.
- 21 days.
Answers
- A – See R05 Study Text, Chp 10
Grab our taster mock exam paper for CII R05. Click here to download.
- D – See R05 Study Text, Chp 1
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 4
Grab our taster mock exam paper for CII R05 Click here to download.
- B – See R05 Study Text, Chp 9
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?
If you found this quiz useful for your CII exam revision, please do share it with your colleagues.
I've just answered this week's Friday Five CII exam questions - can you? #Fri5 Share on X