Memory Notes

Question 1

PPF

Answer 1

Q - qualifying insolvency event
U - unable to be rescued
E - eligible

Ass - assets insufficient on windup

W - not commenced windup pre April 05

Question 2

Factors

Doa hit a lump called oeic Tax

Answer 2

DOA - death, other assets

HIT- health, income needs, TFC

A - ATR and CFL

LUMP- lump sum needs

Called- charges, cost and complex

Oeic - outlook on inflation and investment Experience

Pff - PPF

T - TAX 🙄

Question 3

Critical yield

Answer 3

Annual growth required
Net of charges
To capitalise benefits
At scheme retirement / selected retirement date

Question 4

Things to reduce scheme DB liability

Answer 4

Cap benefits

Stop accrual

Close the scheme to new members

Make further contributions

Question 5

Tolerance 4 loss

Answer 5

Amount of risk willing to take

Previous investment experience

and understanding of risk

Question 6

Capacity 4 loss

Answer 6

TOAD

Time

Other assets

Amount of risk without reduction in standard of living being Affected

Amount of DEAD loss

Question 7

APTA

Answer 7

Before recommendation

Behave & non Financial analysis

Can Inc critical yield

Consideration to STAT:

State Benefits
Tax
AFRO reasonable age above LE
Trade offs

Question 8

PTS role

Answer 8

Check Entire and complete

Confirm suitable rec

Confirm in writing agree with personal rec and advice before given to the client