ABA CTFA Practice Test - Questions Answers, Page 5
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Philip took out a qualifying onshore endowment policy for 20 years which he made paidup in year 9. This means that he may become personally liable to tax on the policy proceeds:
Bill, a single man, having made full use of his annual gift allowances, made a potentially exempt transfer of 100,000 four and a half years before his death. He has made no other gifts. His residual estate is now valued at 500,000. The Inheritance Tax liability at death is:
On Brian's death, his estate was valued at 820,000. He bequeathed 40,000 to a registered charity and split the balance equally between his registered civil partner and his brother. Assuming he made no lifetime transfers, what will the Inheritance Tax liability be?
Trevor is a member of a defined benefit company pension scheme. Which factor relating to his circumstances confirms that he will avoid incurring a special annual allowance charge in the current tax year?
Stephen is about to commence taking benefits from his personal pension scheme, which includes protected rights. He should be aware that:
Frank, age 55, is considering adopting a lifestyle investment technique as he aims to build up his personal pension prior to retirement. He should be aware that:
Under an employer's group life assurance policy, what is the normal tax treatment of the death benefit?
If an income protection insurance (PHI) policy has reviewable premiums, this usually means that the insurance company can:
Apart from comparing cover and costs, what other key factor should usually be considered if a financial adviser intends to recommend that a client cancels an existing term assurance policy and replaces it with a new one?
The primary purpose of a key person insurance policy is to provide funds on the death of the life assured directly to the deceased's:
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