Posted by The Team at Brand Financial Training on June 9, 2020 in Newsletter
9 June 2020
We hope you are keeping safe and well. With all the changes going on at the CII, we have a number of messages here with regards exam sittings.
The CII have released more information about how the remote invigilation of exams will work, and when they will begin. In July, R06, AF7, AF1 and AF5 will be sat remotely.
For all the information on these and all other exams, visit the Coronavirus Updates page on the CII website. For the July sittings specifically, click here. Any questions about this should be directed to the CII.
Our analyses for the R06 and AF5 July exam sittings will be available as normal, and you can currently pre-order at:
Because there have been so many exam sitting changes made by the CII, we will be sending out an email shortly to all purchasers of our R06 and AF5 analysis to ensure we have you on the correct list for the July or October exam analysis, depending on which exam sitting you have booked with the CII.
Note that for the July sittings, examinable tax year 19/20 is examined (as 19/20 is examined until 31 August 2020), so all our existing resources available online are valid.
J11 was due to have its last sitting in April 2020, but due to the cancellation, there is one final sitting now scheduled for October 2020, which the CII have confirmed will be using the 19/20 syllabus and study text.
Best Wishes,
The Team at Brand Financial Training
Featured Article
How to Calculate Pension Contribution Needed for a Property Purchase by a SIPP
We recently did an article on using a SIPP to buy commercial property, which is a common area tested in the AF2 business financial planning paper. Another related question that often comes up in this exam is how much extra pension contribution is needed to fund a purchase.
This has been adapted from our AF2 calculation workbook:
Question
Henry is the sole director-shareholder of his limited company.
Henry has a SIPP, which he wishes to use to buy the business premises that his business is currently renting. The current value of the property, along with associated costs of purchase, is £540,000.
Henry’s SIPP is worth £250,000. He has no other pension plans and makes no personal contributions to the SIPP.
If the maximum amount is borrowed by the SIPP to buy the business premises, calculate the additional gross pension contribution required to allow the purchase to go ahead.
The coronavirus crisis has disrupted ordinary life and daily routines for most of us. Time has changed all significance, lost its shape and may seem to be missing its usual meaning. Maybe we should take the opportunity to ponder some deeper questions?
Some have channelled their energies into reading great works of literature, finally penned that novel they know they have inside them, sewn scrubs for NHS staff or baked sourdough or banana bread.
All commendable activities. But with normal existence on hold, could the lockdown also be worth using to contemplate some deeper questions?
How about thinking long and hard about what truly motivates you, for example? This is a more valuable use of time than you may think. Those who genuinely understand what drives them are generally ideally placed to make decisions in the best interests of their happiness and wellbeing.
And it’s surprising how many people are vague about this when asked, despite understanding that motivation is a requirement for leading a fulfilled, effective life.
Crucially, if self-motivation is a discipline you can master now, during these most challenging of times, it’s a skill you’ll always have. You should find that you can then motivate yourself even when faced with a sometimes repetitive, dull or not especially appealing task (as, let’s face it, revision can sometimes seem to all of us).
Passing AF5 or R06 isn’t only about having the necessary knowledge and understanding, it’s about being able to apply that knowledge exactly as needed and in a timely manner.
It is essential that you have fully prepared for the exam and are ready to answer questions relating to the fact-find/case studies. If you go into the exam unprepared, you will lose vital time and marks. Our full analysis covers the areas that you are likely to see in the exam. However other questions may be asked, and we strongly advise you to think around other potential areas of questioning.
At least 10 calendar days before the exam sittings for R06 and AF5, we email in PDF format, a full detailed analysis of the fact-find/case studies issued by the CII for the next exam sitting plus types of questions and examiner’s comments, exam technique, past paper analysis and generic questions, AND it includes access to email support for 1 working day before the exam (9am-5pm). The AF5 fact-find analysis also covers potential objectives and likely questions based on assumed objectives.
Pre-order our analysis (plus email support) before the discount disappears in the last week of June!
Why not try before you buy? Download one of our free tasters:
We offer a range of resources that will help you to feel fully prepared on exam day:
Mock Exam Papers - 3 full sets of 3 multi-part questions and answers including cross references to the relevant CII study text.
Calculation Workbook – Focussing on the calculations within the exam syllabus, the calculation workbook provides calculation questions with full step-by-step answers, detailed explanations and cross-references to the relevant CII study text.
Study Notes – Consider our study notes your condensed and more focussed take on the CII’s exam syllabus and learning outcomes. They put the exam syllabus into a sensible order and come with self-test questions.
Workbook – Looking at key points, this takes you through the legal aspects and taxation of Trusts, as well as looking at life assurance and trusts, this workbook helps aid knowledge retention and understanding with a variety of short exercises.
MP3 Audio Masterclasses – Learn by listening with our MP3 masterclasses. They allow you to absorb and understand the material in digestible chunks. You can listen at home, in the car, at the gym or wherever you may be.
Study Text (from R03) – Our study text from R03 is relevant for the taxation portion of your AF1 studies and is a user-friendly alternative to the CII study text. It includes tables, diagrams, illustrations and detailed yet clear, concise explanations incorporating ‘how it works’ guides, jargon busters, sample exam questions and ‘check it again’ questions to test your knowledge throughout.
Most* of the above resources can be bought as part of a study kit, so you can save 10% off the cost of buying them individually.
Still not sure? Why not try before you buy? Free tasters are available for all of the resources listed above. Just click here to access all our AF1 resource tasters.
*Our Study Text (from R03) is not available as part of a study kit.
Updated Resources for the New Examinable Tax Year 2020/21
We’ll be updating all our 19/20 resources in July/August, and all purchasers of our 19/20 resources will be entitled to the 20/21 versions free of charge*. The updated resources will be available in late August. We’ll keep you informed as the time draws nearer.
*Note this does not apply to: IF exams whose examinable year ends on 31 Dec; the e-learning videos, which have a 6-month subscription, or our R03 hard copy study text.
Last Ever J11 Wrap and Platform Services Exam Sitting
Last ever sitting of J11 is in October 2020. We have confirmed with the CII that they will NOT be updating the CII study text for this exam, so you can continue to use the 19/20 study text as well as our 19/20 resources.
You can find the full information here. Contact the CII directly if you have any questions about this.
Our resources can help you revise for J12. Find out more here.
Did You Miss These Posts on Our Blog?
Articles and Help for All Your Exams
You’ll find that there’s something for everyone when you check out our blog:
specific topics and how-to articles;
reviews of recent CII exam papers;
our Friday Five – a weekly quiz to give you a fun break from reading the study text;
study techniques that help you to retain your revision and keep your brain working for you, when you need it
Here are the blog posts you might have missed since our last newsletter:
There’s such a variety of information on offer to help you as you tackle your CII exams, that you won’t want to miss a single post. We’ve made it easy for you; just click the button below and enter your email details. Be ‘in the know’ with CII-exam-related tips and info – straight to your inbox!
Quote of the Month
..." The capacity to learn is a gift; the ability to learn is a skill; the willingness to learn is a choice. "...
Brian Herbert
Friday 5
"5 Questions in 5 Minutes Every Friday"
This is a bit of Friday Fun where we provide you with 5 questions (and answers) relevant to a mix of CII exams. The challenge is for you to answer the questions in 5 minutes.
Where do I find the Friday Five?
We post each week's Friday Five to our blog first thing every Friday. You can either visit our blog every Friday at https://brandft.co.uk/blog/ or you can simply go there now, and click on the subscribe button in the top right-hand corner of the blog and sign up to receive notifications of our Friday Five posts.
Note that we don't email the Friday Five out to everybody every Friday, so we recommend you sign up to our blog at https://brandft.co.uk/blog/ so that you receive an email notification when it is posted. It will only take you a minute to sign up.
A bit of Friday Fun, but with the added benefit of testing your exam knowledge!
Here’s a reminder that the CII update their study texts throughout the examinable year to either incorporate new legislations, correct errors or clarify information. Many candidates aren’t aware of this, which can result in candidates studying out-of-date information.
To find out if you have the most up-to-date information, visit the CII website, navigate to your chosen exam and click on ‘learning solutions update’ in the ‘Unit updates’ section in the sidebar.
Note that we keep our resources up-to-date with any updates from the CII.
