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CT5 April 2005 Question 13 IFOA

Discussion in 'CT5' started by Idjaz Burthen, Sep 28, 2021.

  1. Idjaz Burthen

    Idjaz Burthen Made first post

    The initial expenses is quoted as £150 plus 100% of the amount of initial commission.
    The initial commission is quoted as 10% of first premium where the premiums are £1000 p.a (meaning £100 for the initial commission)

    This gives an initial expense of 150 + 100 = £250. But in the memo it says £350. Can someone help with this.

    Thank you
     
    Idjaz Burthen, Sep 28, 2021
    #1

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