Case Study 1 Questions Flashcards
1
Q
- Issues that may result in them failing to meet objectives
A
2
Q
- Additional info adviser needs to advice them
A
3
Q
- Benefits from getting advice from an adviser
A
4
Q
- Steps to discover ATR
A
5
Q
- main factors to influence ATR
A
6
Q
- Steps to find out ATR
A
7
Q
- Key issues to discuss at next financial review
A
8
Q
- Factors taken into account when assessing their existing pension income
A
9
Q
- Explain differences between RPI and CPI
A
10
Q
- Why existing funds may not be suitable
A
11
Q
- Factors to consider when assessing the need for an emergency fund
A
12
Q
- Explain financial situation should one of them die
A
13
Q
- Factors to consider on their IHT position and gifting to grandchildren
A
14
Q
- Explain how a discretionary trust works and the taxation implication of using one for gifting to grandchildren
A
15
Q
- Explain the income tax and cgt implications of gifting their unit trust into a discretionary trust
A
16
Q
- The factors to consider when advising on suitability and tax efficiency on their existing savings and investments
A
17
Q
- Advantages and disadvantages of Nancy buying an annuity
A
18
Q
- Recommend and justify actions they could take to have sufficient, sustainable income in retirement
A
19
Q
- Recommend and justify a range of solutions that could help them mitigate their IHT liability
A
20
Q
- Factors to consider before advising them to invest in AIM shares
A
21
Q
- Recommend and justify a suitable policy to help them cover their iht liability on second death
A
22
Q
- Explain what a discounted gift trust is and how it may help them secure tax efficient income and help their iht
A
23
Q
- Explain how a loan trust works and how they may wish to consider one
A
24
Q
- Explain how LPA works and benefits of registering asap
A
25
Q
- What restrictions are their with regards to making gifts under an LPA
A
26
Q
- Recommend and justify a strategy for them to make gifts into trust for their grandchildren for their property purchases
A
27
Q
- Recommend and justify how they can improve the tax efficiency of their current arrangements
A
28
Q
- Explain to them the drawbacks of an eis
A
29
Q
- Explain to them why an investment bond may be suitable for them
A
