MOCK EXAM QUESTION 1 With 100% Verified Answers

MOCK EXAM QUESTION 1 With 100% Verified Answers What market does the bank of england use to influence short-term interest rates in the UK - answerGilt repo market to facilicate the sale and buy back of UK Gilts The primary role of National savings & Investments - answerraise funds for UK government Spencer has a certified function, advisory role, within a directly authorised independant firm....what can he offer - answerA wide range of unrestricted investments from across the market key structural difference between a bank and a building society - answerbuilding society owned by policy holders (members), bank owned by shareholders Lloyds of london, what are they - answerUnderwritters the UK government has opted to persue an expansionary fiscal policy. what could this mean - answerinfrastructure spending is stamp duty payable on a remortgage - answerno what does the repayment consist of for a standard repayment mortgage - answeramounts of capital and interest that will vary throughout the mortgage term Carlos wants to provide for his family if you dies until they are financially independent, what is the best policy - answerfamily income benifit plan what kind of policy would be written under a morbidity basis - answerincome protection police Describe Statutory Maternity Pay (SMP) - answer90% of their average earnings for 6 weeks then a flat rate for the next 33 weeks pension twins question same same, why does sami have to contribute more - answersami has a more cautious attitude to risk what affects Bereavement support payment - answerwhether you are entitiled to child benifit 3500 lump sum plus 350 month for 18 mths 2500 lump sum plus 100 month for 18 mths without child benifit what inflation index are government Gilts linked to - answerRetail Price Index (RPI) for the coupon and nominal value with regards to inheritence tax, why would a couple see a reduction in their Residence Nil Rate Band (RNRB) - answerTheir combined estate would be in excess of £2 million. RBN is tapered down by £1 for every £2 of excess inheritance who inherits what - answerspouse house if joint plus up to 270,000 of this estate, the remainder will go to any children if someone has lost the mental capacity, what can you do - answerapply to the court of appeal to appoint a deputy Hugo aged 16 entered into a contract via the internet. what is the legal position with regards to the contract - answerbinding unless repudiated by the minor , therefore binding on the other party Equity buy . help to buy scheme - answer5% depost, 20% from goverment as outside greater london and the rest on mortgage Under the Enterprise Act 2002, when is someone discharged from their Bankruptcy - answer12 months IVA individual insolvency register - answer6 years on credit file if someone dies testate - answerit means they have a valid will what is the difference between an absolute trust and a discretionary trust - answerabsolute the benificiaries are named at the outset. discretionary there are a number of potential benificiaries what is the primary objective of the Financial Policy Committee - answerto identify, monitor and take action to remove or reduce systemic risk A companies occupational pension scheme will be regulated by - answerThe pensions regulator (TPR) Big bank regulated by who - answerPRA and FCA FATF - Finanial Action Task Force - answerIntergovernmental orgainisation to combat money laudering and terrorist funding 3 committees within the Bank of England tasked with fufilling the banks monetary and financial statility objectives - answer1. The monetary Policy Committee (MPC) 2.The prudential Regulation Committee (PRC) 3. Financial policy committee (FPC)