R06 July (remote exam)

To anyone taking the R06 exam in July,

I thought it'd be a good idea to create a new discussion on here to converse about the case studies soon to be released 22nd June.

There's a lot of material out there which could be good to share. I haven't done any work up until now (other than my R01-05 exams last year) but now's probably a good time to start.

Who else is taking this exam?

Steven

«1

Comments

  • PSA456PSA456 Member

    Hi, I am taking this exam..... unfortunately for me it's a retake.

    Would be great to share ideas. I would suggest trying to revise generic questions that regularly come up as we can't do much more before the case study gets released.

    Also, does anyone know how this remote exam works? I know it's through webcam, can they see our screen too? Do we have to refer to a case study on our screen instead of a printed version?

    Cee

  • Hi @PSA456

    Would be good to share our ideas. I’m not too sure how the whole remote exam is going to work.

    So I’ve printed the previous 4 exams questions and model answers (April July October 2019) and (January 2020) so I plan to go through these this week. After this we can discuss the case studies when they’re released. I printed the previous exams Q&A’s off the CII website. I’m sure our questions in July will be very different but every little helps!

    Steven
  • AdminAdmin Administrator

    Hi @PSA456 and @Royals430

    Spotted your question about how remote exams will work. We've got a Howwow soon on study tips and someone from the CII will be joining to talk about remote exams.

    If you think that will be helpful, you can save your spot here --> https://paraplannerspowwow.co.uk/events/howwow-online-study-hints-and-tips/

  • PSA456PSA456 Member

    Hi @Royals430

    I have done the same..... I have gathered past papers and currently looking through the generic questions that come up which are usually fact finding ones and review ones.

    This link might help with topics:
    https://adviserservices.fidelity.co.uk/resource-centre/technical-matters/retirement-technical-videos/

    and this might help with generic questions

    Hope they help.

    Not sure if you were emailed today by the CII but they are also releasing post case study revision videos next week. Looks like it will be helpful.

  • @Lucy2310 said:
    Case studies have been released already...

    https://www.cii.co.uk/media/10124212/r06_july_2020_cs.pdf

    Thanks Lucy, I was just trying to find these and getting a tad concerned that they don't appear anywhere in my CII/Revisionmate account. Out of interest, how did you receive them?

  • Lucy2310Lucy2310 Member

    @mikegreen said:

    @Lucy2310 said:
    Case studies have been released already...

    https://www.cii.co.uk/media/10124212/r06_july_2020_cs.pdf

    Thanks Lucy, I was just trying to find these and getting a tad concerned that they don't appear anywhere in my CII/Revisionmate account. Out of interest, how did you receive them?

    I'd seen anothers comment on an old thread with the link on where to find them. You can also click on a link under the exam booking on your portal, and under 'before the exam' theres a 'supporting exam documents' area.

  • PSA456PSA456 Member

    Nice of CII to let us know they have released them already

  • Lucy2310Lucy2310 Member

    @PSA456 said:
    Nice of CII to let us know they have released them already

    I did receive an email also (about 12pm) I think I just got lucky checking it earlier :)

  • PSA456PSA456 Member

    Yeh same got it about 12pm too. Glad they have released it early, means we have an extra weekend to revise.

  • PSA456PSA456 Member

    In paragraph 3 it says 'he has net profits of £145,000 per annum gross in the current tax year'.
    Is it net or gross? Is that a mistake or am i missing something ?

  • Very confusing wording, I’m not so sure myself. Will be interesting to see what others think about this.
  • harpoonharpoon Member

    My take on that wording is this:

    • net profits I am taking to mean the profit the company has made after paying operating expenses, interest, taxes, dividends etc
    • gross in this case I am taking to be dealing with his personal situation rather than the company
  • I would say it's definitely his gross pay - as a sole trader his net trading profts are those after expenses etc but before tax.

  • HideeHidee Member
    edited June 25

    Hi all
    I wrote in to CII for clarification on the wording and got this delightful response:

    _We referred your query to the R06 senior examiner and below is his response:

    ‘This is most definitely NOT an error and is a very basic point.

    Net profits of £145,000 per annum gross - indeed is our standard style wording and is very straight forward.

    Net profit is the correct phraseology for a person’s self-employed earnings and it says that this is the gross figure – meaning before tax._

    My parents who are chartered accountants fellows said it should be "taxable net profits", which might help it make more sense. It is net because they have paid out business outgoings such as rent etc. But they haven't paid tax on it. Nice and confusing huh.

  • HideeHidee Member
    edited June 25
  • GayleGayle Member

    At Expert Pensions. we have been busy preparing our analysis of this sessions R06 and can confirm it certainly is two technically challenging case studies testing your knowledge right the way through from R01 to R05, as well as your ability to create a financial plan.
    Seth and Kaitlyn are an older couple thinking about retirement and inheritance tax. For retirement planning, we have the taxation of an inherited flexi-access drawdown contract, the deferral of the Basic (not New!) State Pension and transitional protection to think about.
    Mita and Harish are slightly further away from retirement, but this is still a key focus for them. It is also looking like a pretty topical case study two, with a number of rules relating to B2L properties changing between the 2019/20 and 2020/21 tax year that are ripe for testing....

  • AJW91AJW91 Member

    How is everyone feeling ahead of tomorrow? What are you expecting to come up?

    I'd be surprised if most of the following didn't come up:

    • Basic State Pension Deferral
    • FAD Taxation
    • LTA/Transitional Protection
    • Offshore Bonds & Trusts
    • B2L Taxation
    • SIPPs & Commercial Property
    • DB vs CETV
    • SIP Taxation

    Is there anything else glaring that I may have missed?

  • RobRob Member
    Anyone else having trouble logging into the system to take r06?
  • PSA456PSA456 Member

    Yep.... CII phone line is busy... i know 2 other people who are also having trouble.... stuck on the log in screen.... cant choose exam etc..

  • RobRob Member
    Haha absolute nightmare!
  • PSA456PSA456 Member

    Very concerning

  • mikegreenmikegreen Member

    Same here, doesn't show me the exam information. If I click Reload it then very briefly prompt me to enter my id, but then disappears. So upsetting.

  • AJW91AJW91 Member
    I still can’t get in??
  • George77George77 Member

    Me and a colleague both can't get in still!

  • Royals430Royals430 Member
    You’d think they would have done a dummy exam over the weekend to test it. Ridiculous
  • AJW91AJW91 Member
    Contact support chat doesn’t appear to be working for me now either. Anyone heard anything from the CII?
  • spindospindo Member

    Absolute farce!!!! Even the support numbers are engaged and nobody on any of the other support lines.

  • AJW91AJW91 Member
    Anyone had any luck? Heard anything?
Sign In or Register to comment.