Common exam questions

Question 1

Outline factors that would be considered at an annual review (Max 12)

Answer 1

• Change in needs/objectives/circumstance/income & expenditure.
• Change in health/marital status/dependents/vulnerability.
• Value of industrial unit/other assets/emergency fund.
• Liabilities.
• Any gains/use of CGT annual exemption/ISA allowance/ AA/DA/PSA availability.
• Changes in legislation/Budget/taxation.
• Performance against benchmark/target.
• On-going suitability.
• AtR/CfL.
• ESG/ethical considerations.
• Level of service/advice proposition/adviser charges.
• Market/economic outlook.
• Any additional capital/money to invest/inheritances.