J04 Exam Questions July 2010
RE: J04 Exam Questions July 2010
I was trying to identify the exam questions from yesterday's J04 exam.
You'd think that some bright spark with a photographic memory would post them online somewhere wouldn't you?
From what I remember...
Question one was about a self employed man, a higher rate tax payer, who wished to make a lump sum contribution to his pension. The question referred to how he would receive his tax relief, which seemed fairly easy.
Another question referred to someone who had apension in payment from 2004 of £62,000 and a personal pension fund of about £160,000. It asked how much more of a contribution he could make if he retired in 2010 without exceding the Lifetime Allowance (£1.8M).
Another question referred to a deferred pension and asked what revaluation the fund would receive between leaving and retirements and what increases on payment would be made.
Another asked you to identify 4 advantages and 4 disadvantages in a man remaining contracted out of the State second pension.
Another referred to a man with a company pension which has went into the Pension Protection Fund. It asked what benefits that he would be afforded by the PPF.
There were 2 questions about contracted in company pension schemes for which I can't fully remember.
Another asked questions about the Special Annual Allowance available to a person making a lump contribution to their pension scheme this year, who had no furher ongoing pension contributions.
Another asked what a man who started working this year had to do to earn a full basic state pension.
Another asked about a current Employers Stakeholder Pension Scheme in which both employer and employee contributed 2% of basic earnings and all staff qualified to join after 12 months. It then asked what changes would have to be made to the scheme for it to comply with the incoming Nest scheme.
Another asked about the difference between a SIPP scheme and a SSAS scheme.
Another Question asked for the definition of Critical Yield and also why in the exanple provided, with 2 different critical yields, why one was lower than the other one, when a pension commencement Lump Sum was to be paid.
Another gave a scenario where an employee had the choice between a scheme with lifestyling and a scheme with a targetted year scheme. It asked about the similarities and examples of what type of member would benefit from each.
Another described an employer with a deficit and asked what actions he could carry out to reduce the deficit and also what documentation would have to be completed for these.
Finally a questions asks of the trustees responsibility, on the death of a particular member of a company pension scheme.
that's 15 out of 15.
If anyone can provide additonal details on the ones above, then please post details underneath.