The CII R05 financial protection is a level three unit worth 10 credits and has a market reputation as being easy. We would suggest you don’t underestimate it as R05 questions can be really tricky. And having sat the exam recently (BTS designers sit the R0 exams annually) we can tell you that ‘easy’ was not the first word that sprang to mind going through the experience. We were surprised at the number of tax questions in the R05 exam – one such question was technical in the extreme. So again, underestimate this unit at your peril.
Lots of questions come up about tax – so qualifying, non qualifying, onshore, offshore and inheritance tax to name a few areas. You need to know the taxation of premiums and proceeds across the different individual and employer sponsored policies. You are unlikely to get lots of calculations, a few for certain but not many.
This is also the R0 unit where you will be tested on Department for Work and Pensions (DWP) benefits. So a good understand of some of the more technical rules relating to these is essential.