GLO_CWM_LVL_1 AAFM Chartered Wealth Manager (CWM) Global Examination exact Exam Questions

Chartered Wealth Manager (CWM) Global Examination

Last Update 19 hours ago Total Questions : 1057

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Question # 201

Which of the following is/are not the statutory objectives of Financial Service Authority(FSA) of UK?

Only IV

III and IV

Only III

None of the Above

Question # 202

What do you mean by UberrimaeFidei ?

Null and Void

Concealment of material facts

Misrepresentation of facts

Of utmost good faith

Question # 203

A type of lease where there is no payment schedule and penalty for a set period of lines.

True lease

Sub lease

Operating lease

Skip lease

Question # 204

Which portion of his property can a muslim normally be guest according to muslim personal law?

One Fourth

One Third

Half

Fully

Question # 205

PTA stands for

Parent Teacher Association

Preferential Trading Area

Preferential Transportation Assembly

Payment Trade Ambit

Question # 206

ln which of the following conditions the lease can be terminated

Efflux of time

On termination of less0r’s interest or power

On merger

All the above

Question # 207

A type of trust in which assets are passed down to the grantors grandchildren not the grantors children

Private. trust

Discretionary trust

Dynasty trust

Express trust

Question # 208

The role of a wealth manager can be best defined as which of the following?

Make informed decision to the clients

Develop a sound financial plan

Review the financial plan

All of the above

Question # 209

The Indian Taxation System by nature is...........

Assertive

Regressive

Progressive

None of the above

Question # 210

According to the capital asset pricing model, fairly priced securities have __________.

Negative betas

Positive alphas

Positive betas

Zero alphas

Question # 211

The premium on all other riders put together should not exceed _____ of the premium on the base policy

10%

20%

30%

50%

Question # 212

Which of the following statement is correct?

The doctrine of adhesion states that you can bargain or ask insurer to change the terms of the insurance contract as per your needs.

While applying for life insurance, it becomes your duty to disclose your past illnesses to the insurer, according principle of utmost good faith

While applying for life insurance, it becomes your duty to disclose your past illnesses to the insurer, according principle of insurable interest

While applying for life insurance, it becomes your duty to disclose your past illnesses to the insurer, according principle of subrogation

Question # 213

Which Provisions of the Transfer of Property Act defines ’lease’ ?

Section 105

Section 106

Section 107

Section 108

Question # 214

KYC norms are applicable in following cases

All new account

All new accounts and old accounts with high value transactions

All cash transactions

All accounts

Question # 215

Determination of monthly income & expenditure of client & his spouse can be done with the following steps. Arrange them in a logical order?

I, III, II

I, II, III

III, I, II

II, I, III

Question # 216

Which of the following is not true in respect of the conditions essential for taxing income under the head income from House Property?

The property must consist of buildings and land appurtenant there to

The assessed may or may not be the owner of such house property

The property may be used for any purpose, but it should not be used by the owner for the purpose of any business or profession carried on him, the profits of which are chargeable to tax.

None of Above

Question # 217

Which of the following statement (s) is/are true about the rate risk?

Interest risk is the uncertainty associated with changes in interest rates, the possibility of loss resulting from increases in interest rates.

Interest risk refers to the tendency of security prices, especially fixed income securities, to move inversely with changes in the rate of interest.

Only option A

Option A & B both

Question # 218

Who would get the first preference when the property of a deceased person is to be distributed

Government

Charitable societies

Agnates

Cognates

Question # 219

A testator sometimes make two wills one relating to his property in his native country and other relating to his property in some foreign country this type of will is called

Duplicate will

Sham will

Holograph will

Concurrent will