CEMAP unit 1 mock 1

53問 • 2年前

ユーザ名非公開

通報

問題一覧

Who is responsible for the control of the interest rates in the UK economy

the Bank of England

which index does the government use to assess the inflation rate

consumer prices index

which if the following describes the function of the Bank of England

acting as banker to the government

which of the following factors distinguishes building societies from banks

they are mutual institutions owned by their members

under what circumstance if any can a nation state opt out of a regulation laid down by the European Council and Council of Ministers

only if a specific dispensation has been granted

on which of the following is the payment of capital gains most likely to arise?

the sale of a holiday home

Damien has gifted some authorised unit trusts to his brother, on which a capital gain of £8,000 has been made. At what rate will he be required to pay capital gains tax

which if the following would not normally be assessable for income tax?

casual gambling proceeds

which of the filling is NOT a way of establishing domicile?

by deed poll

on which one of the following would a child be subject to income tax

any earned income that exceeds his personal allowance

how much tax do higher rate tax payers pay

33.75%

how much tax do basic tax payers pay

8.75%

how much tax do additional rate tax payers pay

39.35%

Diane has been told that she must pay a class of national insurance on a twice yearly basis. this confirms that she is

self employed

the rate of inheritance tax is on a chargeable lifetime transfer when it is made is

20%

capital gains tax is best described as a tax

payable from the gain arising from the disposal of a chargeable asset

bill sold some investments in March 2016 on which he made a taxable capital gain. when would this tax have become due for payment

January 2017

gilts with 66 years to run before their redemption date are known as

long dated

Fiona a higher rate tax payer has an ordinary building society savings account. what is the maximum amount of annual interest she can receive before she is liable for tax

£500

over the longer term, what risk is normally associated with deposit based investments?

the real value of capital may be eroded due to the effects of inflation

in may 2022, Alison, 45, wants an investment vehicle to save towards a deposit for her first house. she wants £30,000 immediately, followed by 220 pounds per month over the following year. Which one of the following is the most suitable product for her objectives ?

High interest building society account.

Index-linked gilts are gilts where the interest payments..

on the capital value move in line with the retail price index

Yvonne is a non taxpayer and holds a building society deposit account. her interest will be paid

gross

national savings premium bonds are MORE advantageous for

higher rate and basic rate taxpayers than for non taxpayers

Terry has the coupon on his gilts paid gross. as a higher rate tax payer he will pay

40% income tax on income received

Alee enterprises intends to raise additional finance by issuing more shares. they are therefore obliged to

make a rights issue

what effect does the anticipation or actual increase in interest rates have on the price and income from gilt edged securities

it depends on the coupon and redemption date of the guilt

under a unit trust, what does the cancellation price represent

the minimum price at which investors may cash in their units

an investor trust:

is a public limited company

bill wants an investment where he does not have to pay capital gains tax. He is interested in unit trusts, investment trusts and open ended investment companies. which one of these would achieve his investing aims?

none of these investments would be suitable

when used to repay a mortgage for a client with a low - medium risk profile, which type of endowment policy is MOST likely to produce a surplus on the maturity date

Full with profit

the amount of ‘deferred’ interest under a deferred interest mortgage is:

added to the loan outstanding

William and Kate have a standard variable rate mortgage which is due to be repaid by an equity based ISA. Which factor would most immediately adversely affect their monthly budgeting?

a rise in the interest rates

irrespective of the type of endowment policy he chooses, jack has been correctly advised that his policy will:

guarantee to repay the mortgage on death before the maturity date

which one of the following is the MOST appropriate type of life policy to support an ISA mortgage

level term assurance

accident sickness and unemployment policies provide benefits on which of the following bases?

regular income payable for a deferred maximum period

which is the INCORRECT statement regarding free standing additional voluntary contributions plans (FSAVCs)

employers must contribute to an employees FSAVC plan

Mike is retiring from his company after 25 years. He is planning to take a 25% lump sum of £30,000 and £15,000 income per annum for his personal pension plan. what will the tax liability be on these benefits?

the lump sum will be tax free but he will pay an income tax liability on the pension

which of the following statements in respect of income support is correct?

it is means tested on both income and savings

which basis would be MOST suitable for a husband and a wife seeking to use whole if life assurance to cover a likely inheritance tax liability?

joint life payable on the second death

which one of the following types of life policy is TYPICALLY used in connection with key person assurance?

term assurance

which of these is the LEAST tax efficient method of providing ‘partnerships protection’ in meeting the needs of the partners, families and the partnership itself?

buy and sell method

which one of the following factors that you cover during a fact find will affect your ability to improve your client’s situation on an ongoing basis?

the clients willingness to review objectives if personal circumstances change

what is the danger for clients with a young family, where mortgage protection is the only life insurance they currently have in place

the dependents would be unprotected should anything happen to either client

when giving advice on a particular financial services product, what will the customer probably be most interested in about the product itself?

the benefits it can give to them

in order to process a death claim for a life policy not written under trust but where there is a valid will, an insurer will need to see the:

grant of probate

who is considered to be the legal owner of a life policy placed under trust?

trustees

which one of the following would NOT be a benefit of writing a will?

it can help reduce capital gains tax

when an individual dies intestate, leaving a spouse, children and an estate valued at £310,000 which one of the following applies?

the first £270,000 passes to the surging spouse absolutely, along with a further £20,000 with the other £20,000 passing to the children equally

under the consumer insurance disclosure act 2012 the principle ‘utmost good faith’ is BEST described as the obligation to truthfully disclose:

only three facts which are requested on the application form

Steve has recently died having made a valid will. how can a potential beneficiary of the will determine the identity of Steve’s personal representatives?

obtaining a copy of the grant of probate

Martin has set up a trust fund for the benefit of his three grandchildren and has appointed two trustees with discretion to excercise their powers. In these circumstances, which of the following is correct?

both trustees must agree before exercising their discretionary powers

Bernard received a share dividend cheque for £4,500 in may 2022. If he was a higher rate taxpayer, how much income tax must he pay

£843.75

CEMAP unit 1 mock 2

CEMAP unit 1 mock 2

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

Who is responsible for the control of the interest rates in the UK economy

the Bank of England

which index does the government use to assess the inflation rate

consumer prices index

which if the following describes the function of the Bank of England

acting as banker to the government

which of the following factors distinguishes building societies from banks

they are mutual institutions owned by their members

under what circumstance if any can a nation state opt out of a regulation laid down by the European Council and Council of Ministers

only if a specific dispensation has been granted

on which of the following is the payment of capital gains most likely to arise?

the sale of a holiday home

Damien has gifted some authorised unit trusts to his brother, on which a capital gain of £8,000 has been made. At what rate will he be required to pay capital gains tax

which if the following would not normally be assessable for income tax?

casual gambling proceeds

which of the filling is NOT a way of establishing domicile?

by deed poll

on which one of the following would a child be subject to income tax

any earned income that exceeds his personal allowance

how much tax do higher rate tax payers pay

33.75%

how much tax do basic tax payers pay

8.75%

how much tax do additional rate tax payers pay

39.35%

Diane has been told that she must pay a class of national insurance on a twice yearly basis. this confirms that she is

self employed

the rate of inheritance tax is on a chargeable lifetime transfer when it is made is

20%

capital gains tax is best described as a tax

payable from the gain arising from the disposal of a chargeable asset

bill sold some investments in March 2016 on which he made a taxable capital gain. when would this tax have become due for payment

January 2017

gilts with 66 years to run before their redemption date are known as

long dated

Fiona a higher rate tax payer has an ordinary building society savings account. what is the maximum amount of annual interest she can receive before she is liable for tax

£500

over the longer term, what risk is normally associated with deposit based investments?

the real value of capital may be eroded due to the effects of inflation

High interest building society account.

Index-linked gilts are gilts where the interest payments..

on the capital value move in line with the retail price index

Yvonne is a non taxpayer and holds a building society deposit account. her interest will be paid

gross

national savings premium bonds are MORE advantageous for

higher rate and basic rate taxpayers than for non taxpayers

Terry has the coupon on his gilts paid gross. as a higher rate tax payer he will pay

40% income tax on income received

Alee enterprises intends to raise additional finance by issuing more shares. they are therefore obliged to

make a rights issue

what effect does the anticipation or actual increase in interest rates have on the price and income from gilt edged securities

it depends on the coupon and redemption date of the guilt

under a unit trust, what does the cancellation price represent

the minimum price at which investors may cash in their units

an investor trust:

is a public limited company

none of these investments would be suitable

when used to repay a mortgage for a client with a low - medium risk profile, which type of endowment policy is MOST likely to produce a surplus on the maturity date

Full with profit

the amount of ‘deferred’ interest under a deferred interest mortgage is:

added to the loan outstanding

William and Kate have a standard variable rate mortgage which is due to be repaid by an equity based ISA. Which factor would most immediately adversely affect their monthly budgeting?

a rise in the interest rates

irrespective of the type of endowment policy he chooses, jack has been correctly advised that his policy will:

guarantee to repay the mortgage on death before the maturity date

which one of the following is the MOST appropriate type of life policy to support an ISA mortgage

level term assurance

accident sickness and unemployment policies provide benefits on which of the following bases?

regular income payable for a deferred maximum period

which is the INCORRECT statement regarding free standing additional voluntary contributions plans (FSAVCs)

employers must contribute to an employees FSAVC plan

the lump sum will be tax free but he will pay an income tax liability on the pension

which of the following statements in respect of income support is correct?

it is means tested on both income and savings

which basis would be MOST suitable for a husband and a wife seeking to use whole if life assurance to cover a likely inheritance tax liability?

joint life payable on the second death

which one of the following types of life policy is TYPICALLY used in connection with key person assurance?

term assurance

which of these is the LEAST tax efficient method of providing ‘partnerships protection’ in meeting the needs of the partners, families and the partnership itself?

buy and sell method

which one of the following factors that you cover during a fact find will affect your ability to improve your client’s situation on an ongoing basis?

the clients willingness to review objectives if personal circumstances change

what is the danger for clients with a young family, where mortgage protection is the only life insurance they currently have in place

the dependents would be unprotected should anything happen to either client

when giving advice on a particular financial services product, what will the customer probably be most interested in about the product itself?

the benefits it can give to them

in order to process a death claim for a life policy not written under trust but where there is a valid will, an insurer will need to see the:

grant of probate

who is considered to be the legal owner of a life policy placed under trust?

trustees

which one of the following would NOT be a benefit of writing a will?

it can help reduce capital gains tax

when an individual dies intestate, leaving a spouse, children and an estate valued at £310,000 which one of the following applies?

the first £270,000 passes to the surging spouse absolutely, along with a further £20,000 with the other £20,000 passing to the children equally

under the consumer insurance disclosure act 2012 the principle ‘utmost good faith’ is BEST described as the obligation to truthfully disclose:

only three facts which are requested on the application form

Steve has recently died having made a valid will. how can a potential beneficiary of the will determine the identity of Steve’s personal representatives?

obtaining a copy of the grant of probate

both trustees must agree before exercising their discretionary powers

Bernard received a share dividend cheque for £4,500 in may 2022. If he was a higher rate taxpayer, how much income tax must he pay

£843.75