Previewing the review for clients in SIPP drawdown
Check your answers
1. In the PFS good practice guide one of the critical questions asked ‘Is the investment strategy still…?’
2. The FCA guidance on DB transfers suggests tiering the clients income into the following tiers?
a. Essential, lifestyle and discretionary
b. Emergency, lifestyle and discretionary
c. Non-discretionary and nice to have
d. Essential, discretionary and nice to have
3. Between 1999 and 2002 Gordon Brown instructed the sale of 60% of the UK’s Gold reserves, had he waited 10 years that would have been the financial impact?
a. He would have realised $5,500,000,000 more
b. He would have realised $7,500,000,000 more
c. He would have realised $12,500,000,000 more
d. He would have realised $15,500,000,000 more
4. If you had Toasted the dawn of the millennium by purchasing Diageo shares, what income yield would you have on the capital invested based on the 2020 dividend payments.
a. A yield of 10.3%
b. A yield of 11.3%
c. A yield of 12.3%
d. A yield of 13.3%
5. What is the longest maturity conventional UK Gilt in issuance?
6. What investment can be held in a SimplySIPP?
a. Cash only
b. PruTIP only
c. Brewin Dolphin DFM Account only
d. PruTIP, Brewin Dolphin DFM Account and cash on deposit
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