Friday Five Focus on Regulation – 27 January – 5 Questions in 5 Minutes

Friday Five Focus on Regulation – 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 Regulation; this is useful as you prepare for either of the CII’s R01 or CF1 exams. 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 2022/23, examinable by the CII until 31 August 2023.

1. Alan and Cam wish to discuss investing for their future retirements. How can an adviser best establish a client’s attitude to risk?
   1. By asking the client the risk they are willing to take based on a scale of 1-10.
   2. Through considering their existing investments.
   3. By careful questioning to clarify understanding, knowledge and experience.
   4. By understanding their attitude to any potential loss.

2. According to a guide published by the regulator, good management information should be
   1. accurate, timely, relevant and consistent.
   2. timely, accurate, specific and consistent.
   3. specific, measurable, accurate and timely.
   4. measurable, relevant, consistent and timely.

3. What is MoneyHelper?
   1. The consumer-facing brand of the Money and Pensions Service.
   2. A research website designed to assist authorised firms.
   3. A debt counselling service for consumers who face debt problems.
   4. A web based regulated firm for clients who do not want face to face advice.

4. Under the General Data Protection Regulation ‘sensitive personal data’ is referred to as
   1. protected personal data.
   2. special categories of personal data.
   3. restricted categories of personal data.
   4. ring-fenced personal data.

5. A key feature of the Senior Managers and Certification Regime is to ensure that each senior manager has a
   1. Statement of Responsibilities.
   2. Mission Statement of Responsibility.
   3. Conduct Rule Handbook.
   4. Certification of Responsibility.

Answers

1. C – See R01 Study Text, Chp 9
   Grab our taster mock exam paper for CII R01. Click here to download.

2. A – See R01 Study Text, Chp 11
   Grab our taster mock exam paper for CII R01. Click here to download.

3. A – See R01 Study Text, Chp 8
   Grab our taster mock exam paper for CII R01. Click here to download.

4. B – See CF1 Study Text, Chp 12
   Grab our taster mock exam paper for CII CF1 Click here to download.

5. A – See CF1 Study Text, Chp 9
   Grab our taster mock exam paper for CII CF1. 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.