AAFM CTEP Exam - Topic 3 Question 50 Discussion

Actual exam question for AAFM's CTEP exam

Question #: 50
Topic #: 3

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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Ming Tanaka

18 hours ago

B The tricky part here is keeping the total annual ISA allowance figure straight from the cash sub-limit, since the numbers are close enough across the options to trip you up if you second-guess yourself, and this topic caught me off guard on my CTEP exam because the cash limit and the total figure look similar at a glance. The key is remembering the annual limit sits at 11,520 with the cash portion capped at 5,760, meaning the remaining balance can go into mutual funds or self-selected shares, which rules out A, C, and D on at least one of the two figures. Reference {reference_url}

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Alona

9 months ago

Yeah, I agree with C, sounds accurate to me!

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Lera

10 months ago

Wait, are you sure about those numbers? Seems off.

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Joni

10 months ago

Definitely C, 11,520 and 57,605!

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Rodolfo

10 months ago

I thought it was 11,320, not sure about that!

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Joanne

10 months ago

It's 11,520 for cash funds, right?

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Virgie

11 months ago

I thought the cash limit was lower than 11,320, but I can't recall the exact number. This is tricky!

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Chandra

11 months ago

I’m not sure about the cash limit, but I remember the total investment limit being around 20,000.

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Alonzo

11 months ago

I feel like I practiced a question similar to this, but the numbers are fuzzy. Was it 11,520 for cash?

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Darci

11 months ago

I think the overall limit is something like 20,000, but I can't remember the exact figures for cash and investments.

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Bambi

11 months ago

This seems straightforward enough. The annual limit on cash investments is clearly stated, and the total limit across all ISA accounts is also provided. I'm confident I can select the right answer here.

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Meghan

11 months ago

I'm a bit confused by the wording here. Is the total limit per person per year, or is the cash limit per year with the rest allocated to other investments? I'll need to re-read this a few times to make sure I'm interpreting it correctly.

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Quentin

11 months ago

Okay, I think I've got this. The key is remembering the annual limit on cash investments and the total limit across all ISA accounts. Let me double-check the numbers in the options.

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Johnetta

11 months ago

Hmm, this looks like a tricky question about ISA investment limits. I'll need to carefully read through the details and options to make sure I understand the right answer.

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Gail

11 months ago

Ah, I see what they're asking now. The total limit is the important part, and the cash limit is just a sub-limit within that. I'll make sure to double-check the numbers in the options to get this right.

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Maile

11 months ago

I remember we discussed how the with statement helps with resource management in Python, but I'm not entirely sure about its impact on closing connections specifically with ncclient.

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