A five-year endowment policy matured on 1 August 2017 with a maturity value of £40,000. The policy had been taken out with a single premium of £30,000. What is the amount of the top-sliced gain?
A – £10,000
B - £40,000
C – £8,000
D – £2,000
D: The chargeable gain is £10,000 being the maturity value of £40,000 less the single premium of £30,000. The top sliced gain is £10,000/5 years = £2,000.
In what way has the Fourth EU Motor Insurance Directive made it easier for victims to make claims against drivers from another state?
A: It requires vehicles coming from other states to display a windscreen insurance disc B: It requires motor insurers to maintain a branch in each member state of the EU C: It requires motor insurers to maintain a representative in each member state of the EU D: It requires the local Motor Insurers' Bureau to deal with all claims involving foreign motorists
When a caravan is being towed and is involved in a fault motor accident, resulting in damage to third-party property, does the liability section of the caravan policy cover the damage to the third-party property?
A: No, only third-party injuries are covered B: Yes, all third-party liabilities are covered C: No, any third-party liability while being towed is excluded D: Yes, providing the caravan had not become detached when the damage occurred
C: A professional client must confirm their status in writing