Which one CANNOT invest in an exempt unit trust?

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Multiple Choice

Which one CANNOT invest in an exempt unit trust?

Explanation:
Exempt unit trusts are designed to pass through tax benefits to investors who themselves qualify as tax-exempt or retirement-related entities. Only certain investors—like employer pension schemes, PRSAs, and RACs—are eligible to invest in these exempt structures. A private individual is not a qualifying investor for exempt unit trusts, so they cannot invest in them. The remaining options meet the eligibility criteria because they are retirement or pension-related vehicles.

Exempt unit trusts are designed to pass through tax benefits to investors who themselves qualify as tax-exempt or retirement-related entities. Only certain investors—like employer pension schemes, PRSAs, and RACs—are eligible to invest in these exempt structures. A private individual is not a qualifying investor for exempt unit trusts, so they cannot invest in them. The remaining options meet the eligibility criteria because they are retirement or pension-related vehicles.

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