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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.

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Suggested Answer: C

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

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Margo
23 days 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
27 days 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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Johnna
30 days 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
18 hours ago
Thanks for confirming, I'll go with that answer then.
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Lou
2 days ago
Yes, that's correct. The answer is B) 11,520; 56,705.
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Misty
3 days 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
2 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
2 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
2 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
1 months ago
That makes sense, thanks for clarifying!
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Aileen
2 months ago
I agree, the answer is C, 11,520 for cash funds and 57,605 overall.
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Sheldon
2 months ago
I think the answer is C) 11,520; 57,605.
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