AAFM Chartered Wealth Manager (CWM) Global Examination - GLO_CWM_LVL_1 Exam Practice Test
Mr. Dinesh is aged 35 years and has a wife aged 30 years old and two small children. His parents are also dependent on him and has a house against which he has taken a housing loan. What is the most important insurance cover required by him at this stage?
Correct Answer: C
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While granting a bank license, RBI considers all of the following, except ________."
Correct Answer: D
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Suresh is an employee of a private company in Mumbai. He draws an amount of Rs 36,000pm as basic salary.
He also receives Rs 8000 as HRA. He has taken a house on rent from 1st October and pays Rs 10,000pm as rent for his house accomodation. What would be the taxable HRA?
He also receives Rs 8000 as HRA. He has taken a house on rent from 1st October and pays Rs 10,000pm as rent for his house accomodation. What would be the taxable HRA?
Correct Answer: A
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Mr. Rajesh was the owner of an uninsured property. But unfortunetaly the property caught fire because of which he suffered severe financial losses. The reason Mr. Rajesh suffered losses as he did not cover:
Correct Answer: C
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If the income from a Private Trust originates from a business, then it is normally taxed.
Correct Answer: C
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Rate of 15% pea compounded annually will be equal to ---------------- % per month.
Correct Answer: A
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If an assessed earns rent from a sub-tenant in respect to tenanted property let out as a residence, the said rent is:
Correct Answer: C
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When bondholder pays more than par value to acquire bond, then
Correct Answer: C
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Within how many days prospectus or statement in lieu of prospectus should file with ROC
Correct Answer: C
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The income received by the approved superannuation fund on the investments made by the fund is
Correct Answer: D
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Calculate the variance (%2) from the data given below:
Correct Answer: A
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Vinod Khanna, aged 27 years, is having a policy of Rs. 15 Lac sum assured and is paying premium of Rs.
14,800/- . The cash surrender value of this policy is at the end of previous year was Rs. 35,000. It is estimated that by this year end, the cash surrender value of this policy would be Rs. 40,000/-. Bonus under this old policy is Rs. 10,000/-.
There is another term insurance policy of Rs. 15 Lac Sum Assured is available to Vinod at Rs. 4,200/- per annum. If rate of interest is 8 % then first calculate the CPT of existing and new policy respectively and then advise Vinod if it is better to continue this policy or to discontinue it?
14,800/- . The cash surrender value of this policy is at the end of previous year was Rs. 35,000. It is estimated that by this year end, the cash surrender value of this policy would be Rs. 40,000/-. Bonus under this old policy is Rs. 10,000/-.
There is another term insurance policy of Rs. 15 Lac Sum Assured is available to Vinod at Rs. 4,200/- per annum. If rate of interest is 8 % then first calculate the CPT of existing and new policy respectively and then advise Vinod if it is better to continue this policy or to discontinue it?
Correct Answer: C
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You wish to save for your son's education the present cost of which is Rs. 320000 and is expected to increase by 6% every year. If your son is 12 years old and will require money in 8 years time, what is the annual amount of investment to be made if it is likely to earn 12% rate of return?
Correct Answer: A
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