What is NOT a requirement for a binding contract

All parties must be aged under 65

What does the term 'bancassurance' mean?

A bank owns a insurance company/ Insurance company owns bank

Which is true of independent financial advisers in terms of agency law?

They act as agents of their client

John has notes which are accepted as legal tender. This is because they have:

The backing of the government and the central bank

Prudential Regulation Authority

What does GDPR stand for

General Data Protection Regulation

In what order of priority is income taxed?

Non-Savings Income, Savings Income, Dividend Income

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CeMAP Unit 1

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CeMAP

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Questions 24

Answers

1
Which of these IS an initial disclosure requirement
Complaints Procedure
Birthday
Mobile Number
Where they are moving
2
What is the lifetime allowance for savings in a pension?
£1,000,300
£1,000,000
£1,030,000
£1,300,000
3
What is NOT a requirement for a binding contract
Undue Pressure or Duress avoided
All parties must be aged under 65
Legality
Capacity
4
What is CIC?
Critical Impact Captain
Critical Illness Cover
Close Insurance Companies
Critical Insurance Causes
5
What is PMI?
Price Measuring Index
Private Medical Insurance
Public Monetary Insurance
Pension Maturity Insurance
6
What does the term 'bancassurance' mean?
An insurance company owns a bank
A bank offers insurance services
A bank owns a insurance company/ Insurance company owns bank
A bank owns an insurance company
7
Which is true of independent financial advisers in terms of agency law?
They act as agents of their client
They act as agents of their company
They act on their own account
They act on behalf of a network
8
How many days in a tax year must you be in the UK for to be automatically considered a resident
200
100
183
365
9
John has notes which are accepted as legal tender. This is because they have:
The backing of the International Monetary Fund
Been issued by the government
The backing of the government and the central bank
Been issued by a high street bank
10
Who is the PRA?
Prudential Regulation Authority
Pension Regulation Authority
Pretty Rad Advisers
Pizza Rating Association
11
Which of these is not an FCA principle for business
Complete Fairness
Regulations
Integrity
Market Conduct
12
What does CAT- standard stand for?
Cats Are Trainable
Collared, Arrears Tracked
Charges Arrears Tracked
Charges, Access and Terms
13
What does GDPR stand for
General Data Protection Regulation
Gathering of Data, Protections and Regulations
Genuine Data Protection Regulation
14
What does GDPR NOT define as sensitive data?
Date of Birth
Religious Beliefs
Mental Health
Racial Origin
15
If a company distributes 25% of its profits in dividends, what is the dividend cover?
8
25
10
4
16
What does GDP stand for?
Gross Domestic Prices
Great Deal Paul!
Gross Deal Prices
Gross Domestic Product
17
What does APR stand for?
Annual Percentage Rate
Actual Product Range
Actual Paid Remuneration
Accidental Panic Reassurer
18
What is the UK governments inflation target?
1%
2%
3%
5%
19
What FCA sourcebook addresses business standards when handling mortgages
COBS
BCOBS
MCOB
BCOBS
20
What amount can a parent give their child on their wedding day and still avoid inheritance tax?
£10,000
£5,000
£1,000
£2,500
21
What is IPI?
Inherent Preference Insurance
Internal Policy Indicators
Income Protection Insurance
Index Performance Indicators
22
Which of the following is NOT a macroeconomic objective?
Aggregation
Price Stability
Stable economic growth
Low unemployment
23
What does ESRB stand for?
European Systemic Rates Board
European Sales Risk Board
European Sun Risk Board
European Systemic Risk Board
24
In what order of priority is income taxed?
Earned Income, Unearned Income, Dividend Income
Earned Income, Dividend Income, Savings Income
Non-Savings Income, Dividend Income, Savings Income
Non-Savings Income, Savings Income, Dividend Income

CeMAP Unit 1 Flashcards | StudBud