SMSF Quiz - May & June 2022 | Take the Quiz

Create an image depicting a modern office environment with financial charts, superannuation documents, and a confident professional reviewing a quiz on a laptop.

Test Your SMSF Knowledge

Are you ready to deepen your understanding of Self-Managed Super Funds (SMSFs)? Take our SMSF Quiz to challenge your expertise and learn more about key regulations and strategies!

11 engaging multiple-choice questions
Assess your knowledge on superannuation contributions, asset management, and compliance
Receive instant feedback on your performance

11 Questions3 MinutesCreated by NavigatingFunds245

Individuals will be able to carry forward concessional contributions if they have total superannuation balances of more than $500,000 on 30th June of the prior year in which contribution is made.

True

False

If superfund makes a temperory borrowings, the amount borrowed by the superfund cannot be more than _________ of the total value of fund's asset at any point in time.

10%

9.50%

10.50%

Moneis borrowed under a Limited Recourse Borrowing Arrangement can also be used to improve an asset already acquired in past.

True

False

The proportioning rule dictates that the tax-free component and taxable components of a member’s payment must be paid in the same proportion as the tax-free and taxable components of the member’s interest.

True

False

If an individual trustee joins or leaves your SMSF, you must change the names on the ownership documents for each fund asset.

True

False

Any purchase or sale price of fund assets should always reflect its correct market value.

True

False

Which of the following point is non-mandatory in investment strategy?

Risk & return

Liquidity

Member insurance needs

LRBA planning to purchase property

Bring forward arrangement cap limit for members below 65 years age from 01 July 2021:

300000

330000

100000

110000

Total superannuation balance is a sum of individual's:

Value of accumulation phase interest

Current balance of Account Based Pensions & Market Linked Pensions

Rollovers in transit between funds

Personal Injury Contributions (Structured Settlement)

SMSF Quiz - May & June 2022

Test Your SMSF Knowledge

More Quizzes