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

• Question 1

  Michael estimates opportunity cost of investment to be 10.5% compounded annually. Which of the following is the best proposal?

  • Receive Rs. 5,500/- at beginning of each year for 15 years
  • Receive Rs. 5,500/- at the end of each year for 19 years
  • Receive Rs. 45,000/- today
  • Receive Rs. 1,20,000/- at the end of 10 years

  Show Answer Answer: C Next

• Question 2

  In case of an individual and HUF cash in hand in excess of ............... shall be included in assets

  • Rs. 5000
  • Rs. 10000
  • Rs. 25000
  • Rs. 50000

  Show Answer Answer: D Next

• Question 3

  The employer had purchased a car for Rs. 3,00,000 which was being used for official purposes. After 2 year 6 months of its use, the car is sold to R, the employee, for Rs. 1,20,000. The value of this perquisite shall be

  • Rs. 72,000
  • Rs. 60,000
  • Nil
  • Rs. 1,23,000

  Show Answer Answer: A Next

• Question 4

  A retirement planner must have detailed information about the client's current and future assets and liabilities. Which of the following is of least importance in developing a retirement plan?

  • A court order requiring the client to pay child support for next 15 years
  • Book value of the client's closely held corporation as determined one year ago
  • An outstanding judgment from a law suit against the client
  • A large outstanding income tax liability of the client

  Show Answer Answer: A Next

• Question 5

  Deduction under section 80C to 80U is allowed from:

  • Gross total income
  • Gross total income exclusive of long-term capital gain
  • Gross total income exclusive of long-term capital gain as well as short-term capital gain
  • Gross total income exclusive of long-term capital gain from any asset and short-term capital from the transfer of shares and units through a recognized stock exchange

  Show Answer Answer: D Next