ISA Basics

What is the interest penalty for closing a 2 Year Fixed Rate ISA early?

• 90 days

• 120 days

• 180 days

• 240 days

What is the final date of the tax year?

• 4th April

• 5th April

• 6th April

• 31st December

What's the maximum amount of interest that the personal savings allowance allow a customer to earn tax free?

• None

• £100

• £500

• £1,000

What is the Junior ISA allowance?

• £4,000

• £9,000

• £20,000

• Unlimited

In what tax year did the overall ISA allowance become £20,000?

• 2021/2022

• 2016/2017

• 2015/2016

• 2017/2018

What forms would be required for a customer to open a cash ISA and arrange an ISA transfer in?

• General Application form & ISA Transfer Authority form

• ISA Application form & ISA Amalgamation/Revalidation form

• ISA Application form & ISA Transfer Authority form

• ISA Application form and Transfer History form

The two methods that an ISA can be transferred from one provider to another are manual and

(a)  

How long does a customer have to cancel any newly added ISA money?

• There is no cancellation period

• 21 days

• 7 days

• 14 days

How many cash ISAs can a customer pay new money into per tax year?

(a)  

Who is the Chief Executive of Skipton Building Society?

• David Cutter

• Stuart Hare

• Ian Cornelius

• Stuart Haire