Advice Matters - Vol 3 Edition 3 Survey

Question Title

* 1. What is the main theme of the first article on green finance and what you should be taking away after reading it?

An in-depth analysis of the Paris Agreement and the Kyoto Protocol and how such agreements affect the financial world

An overview of the history of green finance along with the UK’s environmental objectives and a discussion of the bigger global picture

The history of green activism – Green Peace, The Green Party, Extinction Rebellion, etc. and its impact on financial services

How and where to invest in green financial products, such as which banks, investment organisations and pension providers have proven green credentials

Question Title

* 2. What was the principal aim of the UK’s Climate Change Act?

To convert all forms of transport to non-fossil fuels by 2030

To encourage the use of solar power and wind turbines as the UK’s main source of energy by 2050

To raise national and global awareness of the need to put in place measures to deal with climate change and for the UK to be the leading state for discussions on sustainability

To take immediate and multilateral action to reduce carbon emissions by at least 80% by 2050 and avoid dangerous climate change

Question Title

* 3. Over the last decade the UK government has discussed and set targets for which of these areas? Select all that apply.

Electricity production using renewable energy (20% by 2020)

Improved sustainability for wildlife, plant life and marine life (especially along the coastal areas)

Public transport to account for 80% of all journeys within the UK

Reduction of emissions, pollutants and contaminants into the air, water and soil

Question Title

* 4. According to its Green Finance Strategy, what are the dates and targets for air quality in the UK?

Improve air quality by 10% by 2020

Improve air quality by 50% by 2030

At least an 80% reduction of carbon emissions by 2050

100% reduction of carbon emissions by 2050

Question Title

* 5. According to the first article what are some of the other key objectives in the UK’s Green Finance Strategy?

Enhancing beauty, heritage and engagement with the natural environment

Managing exposure to chemicals and enhancing biosecurity

Mitigating and adapting to climate change

Reducing the risks of harm from economic and financial hazards

Question Title

* 6. What according to the GSIA is the definition of ‘green’?

Any fund that uses a strategy associated with sustainability.

Assets and investments that offer stable predictable cash flows

Ethical funds – some of which are not always good for the environment

Funds which aim to help to reduce the production of pollution and greenhouse gases

Question Title

* 7. According to the first article which of the following would be considered an ‘undesirable’ for any green fund? Select all that apply.

Non-alcoholic drinks

Oil

Tobacco

Weapons

Question Title

* 8. What is the main thrust of the second article on taxation and what you should be taking away after reading it?

A comparison of the different income tax rates for England, Northern Ireland, Scotland and Wales

Advice on completing one’s self-assessment form and reinforcement of the strapline ‘Tax doesn’t have to be taxing’

A run through of the main ways of reducing one’s overall tax burden by way of proven tax avoidance techniques

How to calculate income tax payable for savings income for various situations and a detailed look at the main allowances

How to manage your own tax burden via some specific examples of Capital Gains Tax, Council Tax, Income Tax, Inheritance Tax, Stamp Duty and Value Added Tax.

Question Title

* 9. Savings income, or interest, is income that is taxed by HMRC after non-savings income. However, savings income is taxed before one type of income. Which is it?

Dividends

Earnings from employment

Pensions

Property income

Question Title

* 10. Income is taxed by HMRC. What are the three types of tax allowance that the second article mainly addresses?

Family Income Allowance

Personal Allowance

Personal Savings Allowance

Starting rate for savings

Question Title

* 11. What is the current (June 2020 ) Personal Allowance, provided one’s adjusted net income is not in excess of £100,000?

£7,500

£10,000

£12,500

£15,000

Question Title

* 12. What can happen to any Personal Allowance that is not used up by your non-savings income?

The balance can be set off against your other income.

The balance will automatically be donated to a registered charity.

The balance can be transferred to your Personal Allowance for the following financial year.

The balance will be lost – it cannot be reallocated.

Question Title

* 13. Anne has a pension of £10,500 and has £7,000 of interest from a portfolio of gilts and corporate bonds. How much income tax would she pay in total?

£0

£200

£1,200

£1,400

Question Title

* 14. When is the starting rate for savings available?

When the person has non-savings of less than £12,500.

When the person has non-savings of less than £17,500.

When the person has savings income of up to £5,000 irrespective of non-savings income.

This is available to all taxpayers on all of their savings income irrespective of non-savings income.

Question Title

* 15. Alice has a pension of £30,000 interest of £3,000 and dividends of £20,000. How much tax would she pay on her dividends?

£1,600

£2,100

£5,850

£6,500

Question Title

* 16. What are the current (June 2020) Personal Saving Allowances for basic rate and higher rate Income Tax?

Basic rate £5000 – Higher rate £1,000

Basic rate £1,000 – Higher rate £0

Basic rate £1,000 – Higher rate £500

Basic rate £1,500 – Higher rate £1,000

Question Title

* 17. What can happen to any Dividend Allowance that is not used up by your income from dividends?

The balance can be set off against your other income.

The balance will automatically be donated to a registered charity.

The balance can be transferred to your Dividend Allowance for the following financial year.

The balance will be lost – it cannot be reallocated.

Question Title

* 18. What is the main message of the third article on the FCA Business Plan and what you should be taking away after reading it?

An overview of the main areas within the revised plan, with Covid-19 potentially impacting on many objectives

A comparison of FCA Business Plans past and present

An explanation of how the FCA puts together its annual Business Plan

How the FCA has abandoned its Business Plan in light of the current financial downturn due to lockdown and the impact of Covid-19

Question Title

* 19. Which of the following are a primary focus for the FCA over the coming year?

Markets function well.

Regulation is increased.

Scams are tackled.

The most vulnerable customers are protected.

Question Title

* 20. The FCA has put in place measures to allow greater flexibility where it is in the best interests of consumers in the consumer credit market. Which of these are outcomes that the FCA is focusing on? Select all that apply.

Clear information available to consumers which states the range and features of products available

Consumers are not given unaffordable credit

Firms identify consumers at risk of falling into financial difficulty at an early stage so they can obtain debt advice to help control their finances

New credit products need to be devised to meet the changing market post Covid-19.

Question Title

* 21. What is the FCA’s approach to financial crime in its 2020/2021 Business Plan?

Financial crime is still a major focus.

Financial crime has been downgraded in importance given the focus on dealing with the impact of Covid-19 on financial services.

Financial crime, as with most crime during the pandemic, has reduced in frequency and severity, so the FCA has recommended a ‘light touch’ approach whilst the pandemic continues.

As previously, financial crime is a matter for the law enforcement agencies, not the regulator.

Question Title

* 22. Through OPBAS the FCA will test how professional body supervisors in the…

legacy and accountancy sectors have embedded AML strategies.

legal and accountancy sectors have embedded AML strategies.

legal and manufacturing sectors have embedded AML strategies.

legal and regulatory sectors have embedded AML strategies.

Advice Matters - Vol 3 Edition 3

Complete this short quiz to test your knowledge on the latest edition of Advice Matters.

Question Title

* 1. What is the main theme of the first article on green finance and what you should be taking away after reading it?

Question Title

* 2. What was the principal aim of the UK’s Climate Change Act?

Question Title

* 3. Over the last decade the UK government has discussed and set targets for which of these areas? Select all that apply.

Question Title

* 4. According to its Green Finance Strategy, what are the dates and targets for air quality in the UK?

Question Title

* 5. According to the first article what are some of the other key objectives in the UK’s Green Finance Strategy?

Question Title

* 6. What according to the GSIA is the definition of ‘green’?

Question Title

* 7. According to the first article which of the following would be considered an ‘undesirable’ for any green fund? Select all that apply.

Question Title

* 8. What is the main thrust of the second article on taxation and what you should be taking away after reading it?

Question Title

* 9. Savings income, or interest, is income that is taxed by HMRC after non-savings income. However, savings income is taxed before one type of income. Which is it?

Question Title

* 10. Income is taxed by HMRC. What are the three types of tax allowance that the second article mainly addresses?

Question Title

* 11. What is the current (June 2020 ) Personal Allowance, provided one’s adjusted net income is not in excess of £100,000?

Question Title

* 12. What can happen to any Personal Allowance that is not used up by your non-savings income?

Question Title

* 13. Anne has a pension of £10,500 and has £7,000 of interest from a portfolio of gilts and corporate bonds. How much income tax would she pay in total?

Question Title

* 14. When is the starting rate for savings available?

Question Title

* 15. Alice has a pension of £30,000 interest of £3,000 and dividends of £20,000. How much tax would she pay on her dividends?

Question Title

* 16. What are the current (June 2020) Personal Saving Allowances for basic rate and higher rate Income Tax?

Question Title

* 17. What can happen to any Dividend Allowance that is not used up by your income from dividends?

Question Title

* 18. What is the main message of the third article on the FCA Business Plan and what you should be taking away after reading it?

Question Title

* 19. Which of the following are a primary focus for the FCA over the coming year?

Question Title

* 20. The FCA has put in place measures to allow greater flexibility where it is in the best interests of consumers in the consumer credit market. Which of these are outcomes that the FCA is focusing on? Select all that apply.

Question Title

* 21. What is the FCA’s approach to financial crime in its 2020/2021 Business Plan?

Question Title

* 22. Through OPBAS the FCA will test how professional body supervisors in the…

Question Title

* 23. Please provide your details here to complete the quiz.