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    Financial Protection: Summary of Learning Outcomes Number of Questions in The Examination

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    Clerry Samuel
    The document discusses financial protection products and outlines learning outcomes for understanding these products. It covers the purpose of financial protection, different types of insurance contracts, and the needs of businesses. It also lists 10 learning outcomes and the number of exam questions for each.

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    Financial Protection: Summary of Learning Outcomes Number of Questions in The Examination

    Uploaded by

    Clerry Samuel
    34 views3 pages
    The document discusses financial protection products and outlines learning outcomes for understanding these products. It covers the purpose of financial protection, different types of insurance contracts, and the needs of businesses. It also lists 10 learning outcomes and the number of exam questions for each.

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    RO5 Exam

    Original Title

    R05-Syllabus-2012

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    The document discusses financial protection products and outlines learning outcomes for understanding these products. It covers the purpose of financial protection, different types of insurance contracts, and the needs of businesses. It also lists 10 learning outcomes and the number of exam questions for each.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    34 views3 pages

    Financial Protection: Summary of Learning Outcomes Number of Questions in The Examination

    Uploaded by

    Clerry Samuel
    The document discusses financial protection products and outlines learning outcomes for understanding these products. It covers the purpose of financial protection, different types of insurance contracts, and the needs of businesses. It also lists 10 learning outcomes and the number of exam questions for each.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 3

    Financial protection

    At the end of this unit, candidates should be able to demonstrate an understanding of and
    ability to analyse:
    • The purpose and scope of financial protection products and how they interact with State benefits;
    • The main features and functions of the different types of contracts and how they are arranged in order to
    meet the individual client’s protection needs;
    • The main protection needs of businesses.

    Summary of learning outcomes Number of questions


    in the examination*
    1. Understand the consumer and retail market factors and trends 3 standard format
    relevant to financial protection.
    2. Understand the areas of need for protection planning and the main 3 standard format
    sources of financial protection.
    3. Understand the role and limitations of State Benefits and State/local 3 standard format
    authority funded solutions for financial protection.
    4. Understand the range, structure and application of life assurance and 8 standard format
    pension based policies to meet financial protection needs.
    5. Understand the taxation treatment of life assurance and pension 6 standard format
    based protection policies.
    6. Understand the range, structure and application of income protection 6 standard format
    insurance and options to meet financial protection needs.
    7. Understand the range, structure and application of critical illness 6 standard format
    insurance to meet financial protection needs.
    8. Understand the range, structure and application of long term care 3 standard format
    insurance to meet financial protection needs.
    9. Understand the main features of other insurance based protection 6 standard format
    policies.
    10. Evaluate the needs and priorities for financial protection and the 6 standard format
    relevant factors in selecting appropriate solutions.
    *The test specification has an in-built element of flexibility. It is designed to be used as a guide for study and is not a
    statement of actual number of questions that will appear in every exam. However, the number of questions testing each
    learning outcome will generally be within the range plus or minus 2 of the number indicated.

    Important notes
    • Method of assessment: 50 standard format questions. 1 hour is allowed for this examination.
    • This syllabus will be examined from 1 September 2011 to 31 August 2012.
    • Candidates will be examined on the basis of English law and practice in the tax year 2011/2012 unless
    otherwise stated.
    • It should be assumed that all individuals are domiciled, resident and ordinarily resident in the UK
    unless otherwise stated.
    • Candidates should refer to the CII update website www.cii.co.uk/updates for the latest information on
    changes to law and practice and when they will be examined.

    Published June 2011 R05


    © The Chartered Insurance Institute 2011
    1. Understand the consumer and retail 7. Understand the range, structure and
    market factors and trends relevant to application of critical illness insurance
    financial protection. to meet financial protection needs.
    1.1. Explain the role of insurance in mitigating personal 7.1. Describe the types of critical illness policies, their
    financial risk. benefits, limitations, tax treatment and how they
    meet financial protection needs.
    1.2. Describe consumer attitudes and behaviours to
    protection needs planning. 7.2. Explain the underwriting and claims issues
    and processes associated with critical illness
    1.3. Describe trends relevant to financial protection.
    insurance.

    2. Understand the areas of need for 8. Understand the range, structure and
    protection planning and the main application of long term care insurance
    sources of financial protection. to meet financial protection needs.
    2.1. Describe the need for protection planning for
    8.1. Describe the regulation which applies to long term
    individuals and businesses.
    care insurance.
    2.2. Explain the relationship between insurance and
    8.2. Describe the main types of long term care
    assets and liabilities.
    insurance policies and their features.
    2.3. Describe the sources of financial protection.
    8.3. Describe the long term care planning process.

    3. Understand the role and limitations 9. Understand the main features of other
    of State Benefits and State/local insurance based protection policies.
    authority funded solutions for financial
    9.1. Describe the main features of other insurance
    protection. based protection policies.
    3.1. Examine the role and limitations of State Benefits
    and State/local authority funded solutions for 10. Understand the needs and priorities for
    financial protection.
    financial protection and the relevant
    factors in selecting appropriate
    4. Understand the range, structure
    solutions.
    and application of life assurance
    and pension based policies to meet 10.1. Identify the priorities, risks and choices for
    individuals or business clients.
    financial protection needs.
    10.2. Assess and quantify an individual’s or business’s
    4.1. Describe the types of life assurance and pension future capital and income needs in real terms.
    based policies, their benefits, limitations, tax
    treatment and how they meet financial protection 10.3. Determine the suitability of product types and
    needs. options.
    4.2. Describe the underwriting and claims issues and 10.4. Explain planning considerations.
    processes associated with life assurance and
    10.5. Explain the importance of regular reviews.
    pension based protection policies.

    5. Understand the taxation treatment


    of life assurance and pension based
    protection policies.
    5.1. Describe the taxation treatment of life assurance
    and pension based protection policies.

    6. Understand the range, structure and


    application of income protection
    insurance and options to meet financial
    protection needs.
    6.1. Describe the types of income protection policies,
    their benefits, limitations, tax treatment and how
    they meet financial protection needs.
    6.2. Explain the underwriting and claims issues and
    processes associated with income protection
    insurance.

    Published June 2011 2 of 3


    © The Chartered Insurance Institute 2011
    Reading list Examination guides
    The following list provides details of various publications You are strongly advised to study the most recent exam
    which may assist with your studies. Periodicals and guide before the examination. Please visit www.cii.co.uk
    publications will be of value in ensuring candidates keep to buy online or contact CII Customer Service for further
    up to date with developments and in providing a wider information on +44 (0)20 8989 8464.
    coverage of syllabus topics. The reference materials cited
    are authoritative, detailed works which should be used
    selectively as and when required. Exam technique/study skills
    Note: The examination will test the syllabus alone. There are many modestly priced guides available in
    bookshops. You should choose one which suits your
    The reading list is provided for guidance only and is not in requirements.
    itself the subject of the examination.
    CII/Personal Finance Society members can borrow most
    of the additional study materials below from Knowledge
    Services. CII study texts can be consulted from within
    the library. For further information on the lending service,
    please go to www.knowledge.cii.co.uk/library/services.
    Financial protection. London: CII. Study text R05.

    Reference works
    The financial adviser’s factbook. London: Gee. Looseleaf,
    updated.
    Life assurance and pensions handbook. Brian Murphy.
    London: Taxbriefs. Annual.
    St James’s Place tax guide. Walter Sinclair. Basingstoke,
    Hampshire: Palgrave Macmillan. Annual.
    Tolley’s tax guide. Arnold Homer, Rita Burrows. London:
    LexisNexis Butterworths. Annual.
    Zurich tax handbook. Harlow, Essex: Pearson Education.
    Annual.

    Periodicals
    Financial Adviser. London: FT Business. Weekly.
    Also available online at www.ftadviser.com.
    Financial Solutions. London: Personal Finance
    Society. Six issues a year. Also available online via
    www.knowledge.cii.co.uk (CII/Personal Finance Society
    members only).
    Financial Times. London: Financial Times. Daily. Also
    available online at www.ft.com.
    Health insurance and protection. Monthly. London: Informa.
    The Journal. London: CII. Six issues a year. Also available
    online (CII/Personal Finance Society members only) via
    www.knowledge.cii.co.uk.
    Money Management. London: Financial Times Business.
    Monthly.
    Money Marketing. London: Centaur
    Communications. Weekly. Also available online at
    www.moneymarketing.co.uk.

    Published June 2011 3 of 3


    © The Chartered Insurance Institute 2011

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