Posted Apr 02, 2016
This update covers:
1. The expected solutions for the AF5 and R06 April exams are now available
1. The expected solutions for the AF5 and R06 April exams are now available.
In addition we have just added something else at no extra cost to our AF5 and R06 package:
Why? Because while we expect most candidates to have some degree of experience in an adviser role, that may not be the case for everyone. We want our Expected Solution Package to benefit all candidates, including those who have never worked in an adviser role before. The Wizard Learning Financial Planning Practice online course covers the advisory process and, experienced or not, this is an invaluable addition to the Expected Solution Package, making it the most comprehensive available in the market place today. And the best value for money.
AF5 Expected solution now available for the April 2016 exam
The Expected Solution is a detailed analysis by our panel of experts of the fact-find issued by the CII 2 weeks prior to the exam and includes:
To help with your preparation the following are also included:
R06 Expected Solution now available for the April 2016 exam
The Expected Solution package includes a detailed analysis by our panel of experts of the 2 case studies that are issued by the CII 2 weeks prior to the exam. We provide you with a list of the questions that we feel could be asked together with a detailed solution.
2. CPD Financial Services Compensation Scheme
In 2010 protection under the FSCS was brought in line with other European deposit schemes and was increased from £50,000 to £85,000 on 1 January 2011. A European Directive sets a €100,000 protection limit for deposit schemes across the EEA, including the UK and in 2010 £85,000 was the equivalent of €100,000. This was fixed at the time for 5 years. Those five years are now up and on 1 January 2016 the compensation limit reduced. A strengthening pound and the exchange rate used on the 3 July last year meant that it reduced to £75,000.
This was announced last July to give savers sufficient time to move their money around if they needed to. Most firms wrote to their customers to advise them of the change which should not be reviewed again for at least another 5 years.
Also since 3 July last year individuals affected by a divorce settlement, a house sale, inheritance (or other life event) where they have a temporary high balance in their account in excess of the limit are protected up to £1m for 6 months (either from the date the money is transferred into the account or the date the person becomes entitled to the amount, whichever is the later). This gives them sufficient time to spread the risk between various companies to fully protect their funds.
Wizard Learning Ltd
Provider of accredited online training and CPD system for financial advisers and financial services professionals.