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Which of the following is a financial priority for a young family?
Which of the following is an example of Bartering?
Anna wrote her will five years ago, and a codicil has now been executed.
This confirms that:
The basis of ‘utmost good faith’ in relation to insurance is that:
When an individual dies intestate, leaving a spouse and children, with an estate valued at £260,000, which of the following applies?
Which of the following items of property would be referred to as Realty property?
Who is the Central bank of the USA?
Money comprises of all of the following, except?
Josh was non-domiciled in the UK at the time of his death. His UK estate for inheritance tax purposes:
Allen died in 2005 leaving his entire estate of £137,500 to his son. The NRB in 2005/6 was £275,000. His wife later died in June 2019 leaving an estate including a property valued at £300,000 NET. What was the total tax-free allowance available on her death?
Which of the following mortgage interest rate types would protect an individual if rates increased?
Which of the following is not an example of a product sales intermediary?
One of the financial restrictions placed on undischarged bankrupts is that they are:
Which benefits are subject to income tax?
Who is the legal owner of a Trusts Assets?
Which of the following statements in respect of capital gains tax (CGT) is correct?
What was set up by the EU commission to separate bank risks from government debt troubles?
Which of the following information below in respect of a client named Amy can be described as a ‘Hard Fact?’
Class 3 National Insurance contributions would most likely be recommended to?
Which type(s) of policy, if any, are used by governments to target certain areas of the economy?
UK residents are all entitled to an income tax personal allowance. Which of the following statements is true?
Abdul received £1,500 in dividends. He is a HRT payer, what income tax must he pay if any to the nearest pound?
For inheritance tax purposes, what is the maximum individual gift amount that can be given to any number of recipients? Without incurring any tax liability?
Which of the following would be considered unearned income?
Yasmin, a higher rate taxpayer, sold shares in June 2019 at £50,000, her original purchase price was £20,000. Assuming this is her only transaction in the current tax year, how much capital gains tax will Haley be liable for on the sale?
What happens to an uncrystallized personal pension on death, if the individual died at 68 years of age and the fund was worth £1.6m?
Rita surrendered her investment bond after 15 years for £200,000. Her original investment was £120,000, she had made no withdrawals to date. What was her income tax liability if her tax status for that year was a HRT payer?
Harry is self-employed, 30 years of age and has a turnover of £100,000 P/A. His allowable business expenses are £30,000. What is his income tax liability?
If the nominal rate of interest on a deposit account is 5%, what would be the net interest rate for a BRT payer?
Why are low-cost WOL with profit policies cheaper?
Which Act/s brought about deregulation?
I) The Banking Act 1987
II) The Building Societies Act 1986
III) The Financial Services and Marketing Act 2000
Amanda is 40 years of age, earns £45,000 P/A and contributes a personal contribution of £5,000 P/A to her occupational pension. What is her income tax liability?
Which of the following would be classified as a credit on the balance of payments?
Muhammed made a £403,000 cash gift to his daughter in June 2014. He later died in May 2019, leaving no further legacy. How much IHT was due on his estate?
Which of the following is NOT considered relevant earnings for pension contributions?
Which of the following statements is wholly correct regarding bonds?
Which short term financing options are available to Building Societies that require funds?
Which of the following statements is true?
What is the Balance of payments?
Which of the following investments would be the most appropriate for Karl, who is saving regularly to build a deposit for a larger house?
What is the real rate of return if the nominal rate is 5% and inflation is running at 2%?
How is inflation defined?
On a Flexible WOL policy, for how many years is the sum assured guaranteed for before it must be reviewed?
What is the BOE CPI target and who sets this target?
Which of the following statements is correct in regards to the following collectives?
What is the maximum bonus that can be paid out on a Help to Buy ISA?
There are 4 main reasons for financial intermediaries. Which of the following is describing Maturity Transformation?
Which of the following is not a requirement for a CAT standard mortgage?
Tobi is 45 years of age, self-employed and has been diagnosed with an illness. Which of the following state benefits would he be entitled to?
Yasmin earns £50,000 P/A. She makes a regular contribution into her personal pension of £300 p/m. How much tax relief would she get at source on a monthly basis paid into her pension?
What is the FCA’s full defined role?
Which of the following describes the overall purpose of a fact find?
Which of the following insurance claims would NOT receive 100% of the claim through the FSCS?
Which of the following statements is true in regards to the Prudential Regulation Authority?
Which of the following firms are NOT dual regulated?
What did the Financial Services and Marketing Act 2000 do?
In relation to how a firm deals with its regulator, which of the following is NOT defined within the Principles for Business?
Which of the following is not a Prudential Regulation Authority objective?
Helena left her firm in June 2019, where she offered pension transfer advice. When is the earliest the firm is permitted to destroy her training and competence records, if at all?
The Financial Services (Banking Reform) Act 2013 introduced a new Senior Managers and Certification Regime. Which of the following candidates will the FCA Certification Regime not apply to?
Within which sourcebook would you find information regarding categorisation of clients?
Following the introduction of the Senior Managers and Certification Regime, who will pre-approve that senior managers are fit and proper?
What is operational risk?
When recommending a product to a client, the suitability of advice rules requires the independent adviser to always abide by the fundamental principle of:
Within Basel III, what is the Minimum Leverage Ratio percentage excess, calculated as Tier 1 capital divided by the average total consolidated assets?
What is the FSCS limit for insurance brokers?
Which of the following does not form part of the new Code of Conduct for Senior Managers?
Which of the following is NOT an eligible complainant, as defined by the FOS?
The EU has issued a new regulation. This means that each member state:
Which of the following would the FCA classify as a securities based regulated investment?
Which of the following is not found in the High Level Standards section of the FCA handbook?
Which of the following correctly defines Prudential Regulation?
Which of the following statements is TRUE?
Under which section of the handbook would firms find information on managing liquidity?
Which of the following is the FCA’s strategic objective?
Which of the following statements is true in regards to the FOS?
Which of the following does not form part of the “Fit and Proper test”?
What did Basel II achieve?
Within Basel lll, which of the following is aimed at protecting the long term financial stability of a bank?
Within the ICOB rules, which of the following insurance contracts can be cancelled?
What is a thematic review conducted by the FCA?
Under the Insurance Conduct of Business (ICOB) rules, a customer has cancellation rights. For home contents insurance, the cancellation period is:
Which of the following does not form part of the FCA’s Principles for Supervision?
If the FCA discovers a contravention of its rules, one of the steps it can take is to seek restitution. This means that the firm:
Which of the following clients would be regarded as a professional client?
In the context of FCA supervision of firms, the term ‘flexible portfolio’ means:
MiFID II amended the classification of Independent advice. What did this involve?
What are the twin objectives promoted through regulation?
Who regulates competition in relation to financial services?
What is the definition of liquidity risk?
The powers of the PRA are exercised by which of the following Committees?
What is Conduct risk?
From 2022, the minimum percentage for Total loss-absorbing capacity measured against their risk-weighted assets for Global Systemically Important Banks will be?
Responsibility for implementing the fair treatment of customers lies with the firms:
If a client executes a non-advised sale on a non-complex product that contravenes advice given by an adviser, what actions should the adviser take?
Under FOS complaints rules, what minimum period must MIFID complaints be kept for?
Josh works in the mergers and acquisitions department and used sensitive share information he accessed from his bank’s computer system. He then made a profit through dealing. This is an example of:
What is the purpose of the Pension Protection Fund?
Which piece of EU legislation allows Unit Trusts mutual recognition of authorisation to promote the funds across the EU?
Which of the following products will NOT require an Appropriate test conducted on the client when they request an execution-only sale?