Every month Professional Paraplanner teams up with Brand Financial Training to provide a series of questions from across the CII syllabus to test your knowledge .
Whether you are preparing for your exams, or simply want to keep your knowledge up-to-date, Professional Paraplanner’s Development Zone can help.
The following questions relate to examinable Tax year 24/25, examinable by the CII until 31 August 2025.
You will find the answers separately under the Development Zone tab on the Professional Paraplanner website.
Questions
1. The rule that all communications concerning financial promotion of regulated business must be fair, clear, and not misleading does NOT apply to
A. a personal quotation or illustration.
B. a poster highlighting a fund’s past performance.
C. an advertisement detailing charges under a product.
D. web based advertising covering claim statistics for IP.
2. Commercial bills differ from Treasury bills in that they
A. are issued at a discount to their maturity value.
B. are short-term.
C. usually have higher yields.
D. fund daily cash flow needs.
3. Which of the following benefits is either wholly or largely exempt from Income Tax for an employee?
A. Accommodation where the employee pays a low rent.
B. A company car that runs on diesel.
C. Premiums paid for Private Medical Insurance.
D. An award of £1,000 for 25 years’ service.
4. As a new member of a private sector defined benefit scheme, the accrual of Mary’s pension commencement lump sum (PCLS) at retirement will be
A. determined by the scheme rules.
B. 3/80 x salary x years of service.
C. 3/80 x fund x years of service.
D. 25% x fund value.
5. Craig has had a life assurance policy assigned to him. By when should he notify the life office of the assignment?
A. Within 30 days of the date of the assignment.
B. As soon as possible.
C. At any time before making a claim.
D. By the end of the month in which the assignment took place.
6. Paulo is a non-UK domiciled investor. He has various offshore funds, some of which have reporting status and some of which have non-reporting status. You can tell him that his
A. UK Inheritance Tax liability is based on his worldwide assets.
B. liability to UK Inheritance Tax is levied at a special rate of 35%.
C. funds held offshore will not be liable to UK Inheritance Tax.
D. funds held offshore will not be liable to UK Inheritance Tax after two years.
7. Price risk varies between companies but may be of particular concern to
A. supermarkets.
B. gas suppliers.
C. technology companies.
D. water suppliers.
8. In Northern Ireland, the maximum amount for a mandatory disabled facilities grant is
A. £20,000
B. £25,000
C. £30,000
D. £35,000
9. Which of the following product features is applicable only to lifetime mortgages?
A. Method of repayment.
B. Rent to be paid.
C. Whether a part share of the property can be sold.
D. Tenancy obligations.
10. What does the term ‘discharging the mortgage’ mean?
A. Agreeing to a re-mortgage.
B. Agreeing to a variation of a mortgage contract.
C. Releasing the borrower from the obligations of the mortgage deed.
D. Changing an interest only mortgage to a repayment mortgage.
“Need help with your CII exams? For resources including mock exam papers and e-mocks, calculation workbooks, revision notes, audio masterclasses and video tutorials do visit Brand Financial Training at https://brandft.co.uk and don’t forget to download your free taster versions!”
