R05 Mock Exam

CII R05 Financial Protection

227 realistic practice questions covering life assurance, income protection, critical illness cover, business protection and trust arrangements — with instant explanations for every question.

227 questions All learning outcomes Updated 2025/26 100 MCQs · 2 hours Pass mark 65%

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What you get

Everything you need to pass R05

Structured practice across the full R05 syllabus — from personal protection to complex business arrangements and trust structures.

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Personal and business protection

Term assurance, whole of life, income protection, critical illness, key person, shareholder protection and relevant life — all covered in depth.

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Trust questions included

Bare trusts, discretionary trusts and split trusts for protection policies — including the IHT implications and when each structure is appropriate.

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Practice by topic area

Drill personal protection, business protection or group schemes individually to strengthen specific areas before the exam.

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Instant explanations

Every question includes a detailed explanation — covering definitions, policy structures and the reasoning behind the correct answer.

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Timed exam mode

Simulate the real 2-hour paper with a 100-question timed test. Get your score and full explanations after.

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Updated for 2025/26

Group protection P11D implications, relevant life policy rules and current HMRC treatment — all current for the 2025/26 exam sitting.

Sample question

See the question quality

Every question is written to the standard you'll face in the real R05 exam.

R05 · LO1 Life assurance — risk transfer principles

Which of the following best describes how life assurance mitigates personal financial risk?

A By transferring the financial consequences of a specified risk from the individual to a pool of policyholders managed by the insurer
B By eliminating the most significant financial risks faced by the policyholder
C By guaranteeing the policyholder a return on premiums paid if the risk does not occur
D By providing investment growth alongside protection in all circumstances

Correct answer: A

Life assurance is an example of risk transfer: the policyholder pays premiums in exchange for the insurer bearing the financial consequences of the specified event (death or critical illness). This pools risk across many policyholders — those who do not suffer the specified event effectively subsidise those who do. Insurance does not eliminate risk (B), most term policies pay nothing if the risk does not occur (C), and not all protection policies include investment elements (D).

Syllabus coverage

All R05 learning outcomes

Questions mapped to every area of the R05 syllabus so you can track your progress across all topics.

LO1Life assurance — term, whole of life, endowment and immediate needs

LO2Income protection — own occupation, any occupation, deferred periods and benefit limits

LO3Critical illness cover — covered conditions, definitions and partial payments

LO4Business protection — key person, shareholder/partnership protection and relevant life

LO5Trust arrangements — bare, discretionary and split trusts for protection policies

LO6Group protection — group life, group income protection and P11D implications

Common questions

R05 exam FAQs

Everything you need to know before you start revising.

The CII R05 exam contains 100 multiple-choice questions to be answered in 2 hours.

The pass mark for R05 is 65%.

Income protection deferred periods, the difference between own and any occupation definitions, key person insurance (capital vs income basis), and the use of trusts to place protection policies outside the estate are consistently tested.

Yes. Business protection covers key person insurance, shareholder protection agreements, relevant life policies, and group schemes — typically around 20% of the exam.