Below you can find the latest updates to our learning resources. We recommend checking this section regularly to stay informed of any changes. Updates may arise from:
• Revisions to the exam syllabus
• Amendments to the relevant CII study texts that directly impact our materials
• Corrections to typographical errors
• Adjustments addressing more complex issues
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Question 66: Under a personal, accident and sickness (PAS) policy the deferred period before any payment will be made is usually…
The correct answer should have been option A: 1 month.
Question 170: How much Stamp Duty Reserve Tax will be paid on a direct purchase of £10,000 in Alternative Investment Market (AIM) shares?
The correct answer should have been option B: more on occupation and more on health.
Question 190: Any gain created from the sale of an investment bond could be subject to which of the following taxes?
The correct answer should have been option A: Income tax.
Question 227: Janine has died pre-crystallisation, aged 52, leaving a defined contribution (DC) pension fund of £1,155,000. Her lump sum death benefits, if paid out immediately, will be…
The correct answer should have been option C: subject to a lifetime allowance charge on any excess above Janine’s lifetime allowance.
Question 277: A client is a member of a 1/60th defined benefit (DB) occupational pension scheme. They have 25 years’ service and an £60,000 final salary when they reach retirement. This member will be entitled to an annual pension of…
The correct answer should have been option A: £25,000
Question 289: Fred, Paul and Eric have each received £800 in interest from their bank savings accounts. It is the only savings income they have received this tax year. If Fred is a basic rate, Paul a higher rate and Eric an additional rate tax payer which of the following statements will be correct?
The correct answer should have been option B: Fred will not have an income tax liability on the interest.
Question 91: Octavian is considering taking out both an income protection insurance (IPI) and life assurance policy. In terms of the IPI application form, questions asked are likely to have…
The correct answer should have been option A: 1 month.
The correct end-of-chapter coursework question has now been added to the digital study guide. PDF copy of the coursework question attached.
Clarification regarding Onshore Bond taxation
Chapter 2.2.6b and example 2.14. See attached for revised paragraph and example.
Q231: Jenson has been found guilty of insider dealing. What is the maximum term of imprisonment that may be imposed on him?
The correct answer should be 10 years rather than 7 years as previously stated.
Activity 9.2: The correct answer to activity 9.2 should have been (in order) Principle 6, Principle 1, Principle 5, Principle 7.
See attached for correct answer.
Chapter 5A 3.3: Enforcement
We had previously stated that the maximum term for insider dealing was 7 years whereas it is actually 10 years.
The summary table of the maximum prison terms in relation to different offences covered has therefore been corrected as per the attached.
L06 consolidation test part 1
Question 2: David and Eric have made gains of £22,000 and £31,000 respectively in their open-ended investment company (OEIC) holdings. Neither has made any other gains or losses. If David is a basic rate tax payer and Eric a higher rate tax payer, what is their combined Capital Gains Tax liability on these gains?
The correct answer should have been option C – £11,280
The text in Volume 2 Question 190 was incorrect.
The previous question was: Kathy, a higher rate taxpayer is completing her tax return online. All her earned income is taxed by PAYE and she has also received some income distributions from her range of OEICs. Her UK equity fund paid her distributions of £5,750 and her high-yield corporate bond fund distributions totalled £1,050. How much income tax is payable to HMRC on these distributions assuming these are all of Kathy’s savings and investments?
The correct question is: Patsy has increased her direct shares holdings from 10 to 40 companies. In doing so Patsy is less exposed to…
Question 74: Stefan is purchasing a residential property to add to his property portfolio. The purchase price is £150,000 and he will achieve rental income of £560 per month. He should be aware that…
The SDLT calculation in the rationale was incorrect. This did not affect the correct answer to the question, but to clarify the correct SDLT for Stefan would be:
First SDLT £125,000 at 5%: £125,000 × 5% = £6,250
Remaining SDLT £25,000 at 7%: £25,000 × 7% = £1,750
Total SDLT payable: £6,250 + £1,750 = £8,000
Q190 has been rephrased as follows: Kathy, a higher rate taxpayer is completing her tax return online. All her earned income is taxed by PAYE and she has also received some income distributions from her range of OEICs. Her UK equity fund paid her distributions of £5,750 and her high-yield corporate bond fund distributions totalled £1,050. How much income tax is payable to HMRC on these distributions assuming these are all of Kathy’s savings and investments?
Keeping your study materials up to date is essential for exam success.
To ensure you are working with the most accurate resources, we recommend checking this page regularly. Here you will find updates that directly affect your study materials, helping you stay aligned with the latest requirements
Updates to your study materials are published directly on the CII website at www.cii.co.uk. To locate them, select your exam unit and look for the “Unit Updates” section displayed in the right‑hand column. We recommend reviewing both the “Learning Solutions Update” and “Qualification Update” headings to ensure you are working with the most current information.
