Here CEMAP 1 exam question and answer quiz for Practice . If you have any more questions releted To Certificate in Mortgage Advice and Practice share in comment. for more daily quiz visit – https://trendsmoon.com
CEMAP 1 exam questions and answers
A non-taxpayer with a large portfolio of unit trusts will pay tax on its dividend distributions of:
An investment trust company is one which
(a) an advisory service
(b) invests in other companies
(c) is owned by an insurance company
(d) invests in overseas stock only
invests in other companies
Where a client has income from employment and self employment
a. they must be covered by the same pension arrangements
b. they will be treated separately for pension purposes
c. the Inland Revenue must be contacted re pension provision
d. the DWP must be contacted re pension provision
they will be treated separately for pension purposes
The European Union has issued a new directive. This means that a member state:
- A. can choose whether or not to implement the directive.
- B. has the choice of how to meet the directive’s objectives.
- C. must implement the directive in its precise original wording.
- D. is only required to implement the directive in its entirety if it is directed to them.
invests in other companies
Which of the following is always a mutual organization?
B. friendly society
C. insurance company
D. stock broker
Who is allowed to use expenses to reduce income tax liability?
A. Employees, partners and sole traders
B. Employees only
C. Sole traders only
D. Sole traders and partners only
Employees, partners and sole traders
What rate of withholding tax applies to non UK residents earned income?
What does it mean when a gilt stock is quoted as ‘ex-div’?
A. Dividends will have been paid out within the last 5 weeks
B. price of the stock is frozen until after the next dividend payment
C. seller will receive the next interest payment
D. purchaser will receive the next interest payment
seller will receive the next interest payment
Which of the following may be of particular interest to a higher rate taxpayer looking for a medium risk investment?
b. higher rate building society account
c. Stocks and Shares ISA, invested in unit trusts
d. Cash ISA
Stocks and Shares ISA, invested in unit trusts
In a personal pension mortgage the amount of the retirement fund which can be used to repay the loan cannot exceed which of the following percentages of the total?
Which of the following carries the lower risk to the sum invested?
a. overseas equities
b. UK equities
c. managed funds
d. cash or money funds
cash or money funds
What is a gilt?
a. An investment in the form of a loan to a local authority.
b. An equity-based investment guaranteed by the Government.
c. An investment in the Bank of England.
d. An investment in the form of a loan to the Government.
An investment in the form of a loan to the Government.
An OEIC is like a Unit Trust in which way?
a. They both buy and sell shares to investors
b. Each uses bid/ offer prices
c. They are both designed to be marketed across the European Union
d. Income and Capital Gains tax for the investor is the same
Income and Capital Gains tax for the investor is the same