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AAFM Exam CTEP Topic 3 Question 50 Discussion

Actual exam question for AAFM's CTEP exam

Question #: 50
Topic #: 3

[All CTEP Questions]

There is no overall limit on how much a person can have invested in ISA accounts, but additional investments are currently limited to ________per person per year: a maximum of _________ in cash funds, with the balance being allocated either to mutual funds (Units Trusts and OEICs) or individual self-selected shares.

A11,320; 57,605

B11,520; 56,705

C11,520; 57,605

D11,250; 57,650

Show Suggested Answer

Suggested Answer: C

by Lezlie at Sep 16, 2024, 07:39 AM

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Margo

6 months ago

I'm going with C. Who would even invest 57,650 in an ISA? That's just crazy talk, D is not happening.

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Bernadine

6 months ago

Haha, the limit is definitely not 11,250 for cash funds. That's way too low, D is out of the question.

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Marquetta

5 months ago

Yeah, D is definitely too low. C sounds more reasonable.

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Josue

5 months ago

I think it's C) 11,520; 57,605

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Omega

5 months ago

C) 11,520; 57,605

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Ryan

5 months ago

A) 11,320; 57,605

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Johnna

6 months ago

Wait, isn't the limit 11,520 for cash funds and 56,705 overall? I'm pretty sure that's the right answer, B.

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Theola

5 months ago

Thanks for confirming, I'll go with that answer then.

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Lou

5 months ago

Yes, that's correct. The answer is B) 11,520; 56,705.

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Misty

5 months ago

I think you're right, the limit for cash funds is 11,520 and the overall limit is 56,705.

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Na

7 months ago

I'm not sure, but I think D) 11,250; 57,650 could also be a possibility. It seems like a reasonable option too.

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Dorcas

7 months ago

I agree with Sheldon, C) 11,520; 57,605 makes sense because it allows for a good balance between cash funds and other investments.

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Vi

8 months ago

I think the answer is C, 11,520 for cash funds and 57,605 overall. Sounds about right to me.

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Gayla

7 months ago

That makes sense, thanks for clarifying!

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Aileen

7 months ago

I agree, the answer is C, 11,520 for cash funds and 57,605 overall.

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Sheldon

8 months ago

I think the answer is C) 11,520; 57,605.

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