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問題一覧
1
What are the main sources of Retirement Income (choose 3)?
Personal Savings and Earnings , State benefits , Pension Provision
2
How much does the PLSA invest in the UK and abroad
£1.3 trillion
3
Can you correctly identify the best organisation to help each the following people with their problems? I am an ordinary member of the public, unhappy with the way I have been treated by the Trustees of my occupational pension scheme.
The Pensions Ombudsman
4
What year was NEST introduced?
2012
5
If someone reaches state pension age before April 2016, how many Qualifying years do they need to receive full state pension?
30
6
Which Legislation introduced a number of Governance requirements including a now-defunct minimum Statutory funding requirement and provisions for underfunded final salary/defined benefit pensions to be a debt on the employer and introduced Pension Earmarking Requirements?
Pensions Act 1995
7
Who are members of PLSA
Asset Managers , Consultants, Law Firms, Fintechs
8
What does NEST stand for ?
National Employment Savings Trust
9
what does NIC stand for?
National Insurance Contributions
10
All funded DBand care pension schemes must appoint a scheme actuary
True
11
Which Legislation introduced the requirements for employers to set up (but not contribute to) a stakeholder scheme ?
Welfare Reform and Pensions Act 1999
12
Does HMRC deal with National insurance?
True
13
who can Join SPP
Accountants , insurance brokers , solicitors , Life offices
14
when was it required for alll new Master trusts to apply for and obtain authorisation from TPR before they can operate
1st October 2018
15
What is the advantage of paying death benefits under trust?
no need to wait for probate
16
Which of these are public sector pension schemes
Local Government Pension Scheme, The Civil Service Pension Scheme, The Teacher Pension Scheme, The NHS pension scheme
17
Which of these cooperations are public sector
Bank of England , Civil Aviation Authority
18
are the trustees managers bound by nomination for LSDB?
No
19
What has caused public sector schemes to scale back their benefits
Increasing cost of defined benefit schemes
20
Who introduced the first Occupational Pension Scheme?
Customs and Excise
21
what does AMPS stand for
Association of Member directed Pension Schemes
22
what does SPP stand for?
The Society of Pension Professionals
23
Which Legislation introduced contracting out and equal access Requirements
Social Security Pensions Act 1975
24
Who pay SSP?
The employer
25
What does PPF stand for ?
Pension Protection Fund
26
What is Pension credit made up of
Guarantee Credit & Savings Credit
27
What does PMI do
Promotes and embeds professional standards , Produces Qualifications with reputation for excellence , Provides continued lifelong learning , Plays a pivotal role shaping the industry , Presents an annual conference and wide range of technical seminars, Provides industry leading insight
28
select the examples of Fintechs
Monza, Bitcoin
29
Can you correctly identify the best organisation to help the following pereon with their problem? I am a Trustee for a small self-administered scheme and I would like some help and advice.
AMPS
30
Which Legislation introduced revaluation of pensions in respect of pensionable service on and after 1 January 1985
Social Security Act 1985
31
What is the maximum amount you can claim from the new state pension
203.85
32
Which Educational body for Financial Advisors is part of the Charted Insurance Institute
PFS
33
what does SoRP stand for
Statements of Recommended Practices
34
What does RTI stand for
Real Time Information
35
when should audited accounts be produced
Annually , within 7 months of the schemes year end
36
Which one of the following is true?
The Association of Corporate Trustees is a trade organisation
37
What legislation introduced preservation of pensions?
Social Security Act 1973
38
What does TACT stand for?
The Association of Corporate Trustees
39
All personal schemes must have an auditor
False
40
What does SFP stand for
Statement of Funding Principles
41
Which act consolidated the previous legislation
Pension scheme Act 1993
42
What Pension act introduced Pension Earmarking Requirements on divorce?
Pensions Act 1995
43
How much is SSP per week
£109.40
44
what is the State pension age for a male born 22/06/1966
67
45
what does DWP stand for?
Department of Work and Pensions
46
Select all core benefits after basic pay
Holiday Entitlement , Statutory Sick Pay, Maternity/paternity pay/leave, Pension contributions
47
Contract based schemes are?
Defined contribution schemes
48
What Are HMRC strategic objectives for 2022?
Collect the right tax and pay out the right financial support , Make it easy to get tax right and hard to bend or break the rules, Maintain taxpayers consent through fair treatment and protect society from harm, Make HMRC a great place to work , Support wider government economic Aims through a resilient, agile tax administration system
49
What is the Fundamental Aims of SPP
Influence Policy and strategy , Member Services , Industry profile
50
what did the Social Security Act 1975 introduce?
Contracting out and equal access requirements
51
What Legislation Regulates Master Trust?
Pension Scheme Act 2017
52
What did the Pensions Act 1995 introduce?
A now defunct Minimum Statutory funding requirement , provisions for underfunded final salary/defined benefit pensions to be a debt on the employer , Pension Earmarking Requirements on divorce
53
The Pensions Act 2008 introduced what?
Automatic Enrolment , Nest Scheme
54
How many years of NIC do you need to claim the full basic state pension
35
55
what does PAYE stand for
Pay As You Earn
56
what does APL stand for?
Association of Pension Lawyers
57
Which Legislation introduced Automatic enrollment?
Pensions Act 2008
58
All employers have been required to report in RTI when an employee is paid since when
2014
59
when was PRAG founded
1976
60
Select all who can claim the new state pension
A woman born 23/11/1955, A Male born 06/07/1952
61
The trustees obtain advice from scheme actuary before....?
making decision on methods and assumptions to calculate the scheme technical provisions , Prepare/revise SFP, Prepare/revise recovery plan , Prepare/revise schedule of contributions , modifying future accrual by resolution
62
what is the minimum amount of weeks that sick pay should be paid for?
28
63
What does ABI stand for?
Association of British Insurers
64
How often should a scheme be valued by the scheme actuary
Every 3 years
65
Give examples of Flexible benefit scheme
childcare , dental plan , Employee discount
66
what does PPI stand for?
Pensions Policy Institute
67
What does SIP stand for
Statements of Investment Principles
68
What Legislation introduced Pension simplification and did away with the concept of retirement at least from HMRC perspective?
The Finance Act 2004
69
Give an example of exception to tax and National Insurance
Redundancy/ termination pay
70
What does PLSA stand for?
Pensions and Lifetime Savings Association
71
What is the minimum statutory Sick Pay per week? (2021/2022)
96.36
72
What legislation regulates and makes provision for collective defined contribution schemes?
Pension Schemes Act 2021
73
what does FAS stand for
The Financial Assistance Scheme
74
What does SSP stand for?
Statutory Sick Pay
75
which statements are correct about a Master trust scheme?
is Not a public service pension scheme , is used, or intended to be used by Two or more people , provides defined contribution scheme
76
When did the requirement to designate a stakeholder pension cease to apply?
October 2012
77
What does CARE stand for?
Career Average Revealed Earnings
78
Which Monarch passed the first poor laws making local boroughs responsible for providing for the poor within their areas?
Elizabeth I
79
Public sector schemes are divided between Statutory schemes and non statutory schemes true or false?
True
80
which of the following are government objectives relating to pensions? (choose 3)
To alter the split between state and private , To encourage Working people to save, To protect people who can't work
81
After 2016 how many Qualifying years do you need to receive any state pension
10
82
what type of scheme is a master trust
Occupational
83
Which Legislation Introduced the current statutory funding for DB Schemes?
Pension Act 2004
84
Which Legislation transferred the regulation of pension from Occupational Pensions Regulator Authority to The Pensions Regulator (TPR)
Pension Act 2004
85
What does CII stand for?
Chartered Insurance Institute
86
How long is SSP paid for
28 weeks
87
who can be nominated as beneficiary?
spouse, children , grandchildren , Siblings , Parents