CEMAP unit 1 mock 2

50問 • 2年前

問題一覧

the European Union has issued a new directive. this means that a member state

has the choice of how to meet the directive’s objectives

which of the following is always a mutual organisation?

friendly society

the reason the Bank of England transferred responsibility for the management of new issues of gilts to the debt management office was:

avoid conflicts of interest

financial intermediaries can provide maturity transformation because they:

offer a wide range of deposit accounts to a wide range of depositors

who is allowed to use expenses to reduce income tax liability

employees, partners and sole traders

Sarah has been advised that during the current tax year, 30% tax relief is available to her via self assessment. this confirms that she:

has invested in a venture capital trust

a potentially exempt transfer is best described as:

a transfer that bears no immediate charge to inheritance tax irrespective of the amount of transfer

what is the phrase used to describe allowable business expenses for self-employed people to set against income tax? the expenses must be:

wholly and exclusively for the business

in terms of individuals domiciled in the UK, which one of the following is true in relation to IHT?

IHT applies to all their property, whichever country it is held in

Rebecca, a basic rate tax payer, received a share dividend cheque for £1,400 in May 2020. Assuming that no further dividends are received, how much further tax will she have to pay?

Nothing

which one of the following disposals in might be liable for capital gains tax?

Mr Ellis oil painting sold for £19,800

What rate of withholding tax applies to non UK residents earned income?

20%

Mark recently sold some shares and made a taxable gain of £5,000. if his taxable income for this tax year is £20,000 how much capital gains tax will he be required to pay?

£500

which class or classes of national insurance contributions do self employed people pay?

class 2 and class 4

Gilts with 10 years to run before their redemption date are known as

medium dated

if a company was to distribute 20% of its profits in dividends, what would its dividend cover be?

Grace receives income from her National Sacing Income Bond. She receives income:

gross but it may be liable to income tax or the amounts exceeds the savings allowance limit

what is the MINIMUM age at which William can access the equities element of an ISA

Mary is retired and wishes to invest in a tax free savings product. Which one of the following would satisfy this wish?

Premium Bonds

What does it mean when a gilt stock is quoted as “ex-div”

the seller will receive the next interest payment

the risk of investment fluctuations can be reduced through which feature of the investment process?

diversification

what is the maximum amount they can be invested into premium bonds

£50,000

Terry has the coupon on his gilts paid gross. As a basic rate tax payer he will pay:

20% income tax on interest recieved

which one of the following statements about child tax benefit is correct?

it can continue up to and including age 19 if the child is in full time education

Steve, aged 47, joined his present occupational pension scheme in 2010 and now earns £120,000 per annum. which of the following is currently unavailable to him?

pension term assurance

which one of the following features existing under some personal pension plans is NOT permitted under a stakeholder pension?

exit charges

how would the payments from a critical illness cover policy be BEST

lump sum

which one of the following CANNOT be a trustee of a unit trust scheme

the fund manager

how are shares in an open-ended investment company proved

there is one price based on the value of the assets divided by the number of shares

under the terms of a split capital investment trust, what minimum percentage of income generated by the portfolio is allocated to the income shares

100%

what are the benefits of a group personal accident and sickness scheme arranged by an employer

the employer may offset premiums against corporation tax

which of the following is true of a second mortgage

it will usually be with a different lender

the interest rate on a base rate tracker mortgage is usually

higher than the base rate

under a lifetime mortgage, how is the outstanding loan normally repaid?

from proceeds of the sale of the house after the borrowers death

in which one of the following ways does a unit linked endowment differ from a traditional with profits endowment

there is no minimum guaranteed sum assured at maturity

Clive age 27 started a stakeholder pension plan for the minimum term, which he intended to use to repay the capital under his interest only mortgage. The minimum term of the mortgage will be:

28 years

what is the main attraction of a capped interest rate option when taking out a mortgage

if interest rates go up, the mortgage interest rate will be limited to present ceiling

what is the advantage of including benefit statements when making a product presentation to a client

it enables the client to better understand how this product will meet his needs

which of the following financial needs usually becomes the priority on becoming a parent?

protection

of the information gathered below, in respect of Alice, which item represents a hard fact?

her account savings balance has fallen to £5,000

Brian is reviewing a range of investment products before selecting the most appropriate solution for his client, Claire. Which factor is the LEAST likely to take into account when selecting an appropriate solution?

the possibility of Claire getting married in the future and having children

for an investment to grow in real terms, it must increase in value:

at a rate greater than inflation

which one of the following is true in relation to the manger of a investment trust

he can borrow to improve income and capital growth

any loss made by a partnership is usually:

the responsibility of the partners

Stewart wants to start a whole of life assurance, which will also provide critical illness cover. Whuch specific type of plan should he choose?

universal

when acting as the agent of a principal, it is a fundamental rule that:

an agent can conclude contracts on behalf of the principal

Walter and Winnie own their house on a joints tenants basis. if Walter dies:

his share of the property will automatically pass to Winnie

the difference between a lasting power of attorney and an ordinary power of attorney is that:

an ordinary power of attorney becomes invalid if the donor becomes mentally incapable, whereas a lasting power of attorney remains effective

Tom was declared bankrupt in June 2022. for how long will his bankruptcy order remain in place

unitil june 2023

when land is owned by two or more parties, what is the term where each party owns a defined share uf that land?

tenancy in common

CEMAP unit 1 mock 1

CEMAP unit 1 mock 1

CEMAP unit 1 mock 3

CEMAP unit 1 mock 3

CEMAP unit 2 mock 1

CEMAP unit 2 mock 1

CEMAP unit 2 mock 2

CEMAP unit 2 mock 2

CEMAP unit 2 mock 3

CEMAP unit 2 mock 3

問題一覧

the European Union has issued a new directive. this means that a member state

has the choice of how to meet the directive’s objectives

which of the following is always a mutual organisation?

friendly society

the reason the Bank of England transferred responsibility for the management of new issues of gilts to the debt management office was:

avoid conflicts of interest

financial intermediaries can provide maturity transformation because they:

offer a wide range of deposit accounts to a wide range of depositors

who is allowed to use expenses to reduce income tax liability

employees, partners and sole traders

Sarah has been advised that during the current tax year, 30% tax relief is available to her via self assessment. this confirms that she:

has invested in a venture capital trust

a potentially exempt transfer is best described as:

a transfer that bears no immediate charge to inheritance tax irrespective of the amount of transfer

what is the phrase used to describe allowable business expenses for self-employed people to set against income tax? the expenses must be:

wholly and exclusively for the business

in terms of individuals domiciled in the UK, which one of the following is true in relation to IHT?

IHT applies to all their property, whichever country it is held in

Rebecca, a basic rate tax payer, received a share dividend cheque for £1,400 in May 2020. Assuming that no further dividends are received, how much further tax will she have to pay?

Nothing

which one of the following disposals in might be liable for capital gains tax?

Mr Ellis oil painting sold for £19,800

What rate of withholding tax applies to non UK residents earned income?

20%

Mark recently sold some shares and made a taxable gain of £5,000. if his taxable income for this tax year is £20,000 how much capital gains tax will he be required to pay?

£500

which class or classes of national insurance contributions do self employed people pay?

class 2 and class 4

Gilts with 10 years to run before their redemption date are known as

medium dated

if a company was to distribute 20% of its profits in dividends, what would its dividend cover be?

Grace receives income from her National Sacing Income Bond. She receives income:

gross but it may be liable to income tax or the amounts exceeds the savings allowance limit

what is the MINIMUM age at which William can access the equities element of an ISA

Mary is retired and wishes to invest in a tax free savings product. Which one of the following would satisfy this wish?

Premium Bonds

What does it mean when a gilt stock is quoted as “ex-div”

the seller will receive the next interest payment

the risk of investment fluctuations can be reduced through which feature of the investment process?

diversification

what is the maximum amount they can be invested into premium bonds

£50,000

Terry has the coupon on his gilts paid gross. As a basic rate tax payer he will pay:

20% income tax on interest recieved

which one of the following statements about child tax benefit is correct?

it can continue up to and including age 19 if the child is in full time education

Steve, aged 47, joined his present occupational pension scheme in 2010 and now earns £120,000 per annum. which of the following is currently unavailable to him?

pension term assurance

which one of the following features existing under some personal pension plans is NOT permitted under a stakeholder pension?

exit charges

how would the payments from a critical illness cover policy be BEST

lump sum

which one of the following CANNOT be a trustee of a unit trust scheme

the fund manager

how are shares in an open-ended investment company proved

there is one price based on the value of the assets divided by the number of shares

under the terms of a split capital investment trust, what minimum percentage of income generated by the portfolio is allocated to the income shares

100%

what are the benefits of a group personal accident and sickness scheme arranged by an employer

the employer may offset premiums against corporation tax

which of the following is true of a second mortgage

it will usually be with a different lender

the interest rate on a base rate tracker mortgage is usually

higher than the base rate

under a lifetime mortgage, how is the outstanding loan normally repaid?

from proceeds of the sale of the house after the borrowers death

in which one of the following ways does a unit linked endowment differ from a traditional with profits endowment

there is no minimum guaranteed sum assured at maturity

Clive age 27 started a stakeholder pension plan for the minimum term, which he intended to use to repay the capital under his interest only mortgage. The minimum term of the mortgage will be:

28 years

what is the main attraction of a capped interest rate option when taking out a mortgage

if interest rates go up, the mortgage interest rate will be limited to present ceiling

what is the advantage of including benefit statements when making a product presentation to a client

it enables the client to better understand how this product will meet his needs

which of the following financial needs usually becomes the priority on becoming a parent?

protection

of the information gathered below, in respect of Alice, which item represents a hard fact?

her account savings balance has fallen to £5,000

the possibility of Claire getting married in the future and having children

for an investment to grow in real terms, it must increase in value:

at a rate greater than inflation

which one of the following is true in relation to the manger of a investment trust

he can borrow to improve income and capital growth

any loss made by a partnership is usually:

the responsibility of the partners

Stewart wants to start a whole of life assurance, which will also provide critical illness cover. Whuch specific type of plan should he choose?

universal

when acting as the agent of a principal, it is a fundamental rule that:

an agent can conclude contracts on behalf of the principal

Walter and Winnie own their house on a joints tenants basis. if Walter dies:

his share of the property will automatically pass to Winnie

the difference between a lasting power of attorney and an ordinary power of attorney is that:

an ordinary power of attorney becomes invalid if the donor becomes mentally incapable, whereas a lasting power of attorney remains effective

Tom was declared bankrupt in June 2022. for how long will his bankruptcy order remain in place

unitil june 2023

when land is owned by two or more parties, what is the term where each party owns a defined share uf that land?

tenancy in common