aafm glo cwm lvl 1 practice test

Chartered Wealth Manager (CWM) Global Examination

Last exam update: Dec 16 ,2025
Page 1 out of 71. Viewing questions 1-15 out of 1057

Question 1

Notice of loss should be given to the insurer within ________days of the event of loss.

  • A. 30
  • B. 15
  • C. 7
  • D. 21
Mark Question:
Answer:

C

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Question 2

For calculating the benefit under Entertainment allowance, salary means,

  • A. Basic Salary
  • B. Basic Salary + DA
  • C. Basic Salary + DA + commission
  • D. Basic Salary + DA + commission + Bonus
Mark Question:
Answer:

B

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Question 3

The following is capital receipt:

  • A. Dividend from investment;
  • B. Bonus shares;
  • C. Sale of technological know- how;
  • D. Compensation received for compulsory evacuation of place of business.
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Answer:

D

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Question 4

Hedging with commodity futures

  • A. reduces the risk of loss
  • B. results when an investor buys a contract
  • C. occurs when the individual takes delivery
  • D. is the opposite of selling short
Mark Question:
Answer:

A

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Question 5

“Premium” is associated with

  • A. Forward
  • B. Futures
  • C. Options
  • D. All of the above
Mark Question:
Answer:

C

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Question 6

Which of the following is/are correct?

  • A. Both A and B statements are true
  • B. Statement A is true
  • C. Statement B is true
  • D. Both A and B are not true
Mark Question:
Answer:

B

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Question 7

Rapid accumulation stage suggests that the net worth is ________

  • A. 1 times of annual income
  • B. 2 times of annual income
  • C. 3 times of annual income
  • D. 4 times of annual income
Mark Question:
Answer:

C

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Question 8

Which of the following are the basic requirements for an existence of an HUF?

  • A. Only I and II
  • B. Only II and III
  • C. All of these
  • D. Only I and III
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Answer:

C

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Question 9

X Ltd. has failed to remit the tax deducted at source from annual rent of Rs. 6,60,000 paid to Mr. A for
its office building. The said rent is

  • A. fully allowable as a business expenditure
  • B. not allowable in view of Section 40(a)(I)
  • C. allowable to the extent of 50%;
  • D. none of the above
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Answer:

B

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Question 10

Post office term deposit can be opened for 10 years

  • A. TRUE
  • B. FALSE
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Answer:

B

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Question 11

"Which of the following can benefit from SARFAESI, 2002?"

  • A. Banks
  • B. Financial Institutions
  • C. Both of the above
  • D. None of the above
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Answer:

C

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Question 12

A trust is extinguished if

  • A. All the beneficiaries who all competent to contract have given their consent for revocation of the trust
  • B. Fulfillment of its purpose her become impossible
  • C. In purpose is completely fulfilled
  • D. Any one of the above
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Answer:

D

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Question 13

Mathematically the Efficient Frontier is the intersection of the Set of Portfolios with ....…. Variance
and the Set of Portfolios with ……. Return.

  • A. Maximum, minimum
  • B. Minimum, maximum
  • C. Minimum, minimum
  • D. None of the above
Mark Question:
Answer:

B

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Question 14

Deduction under section 80QQB is allowed to an author of a book of literary or artistic or scientific
nature who is resident in India to the extent of:

  • A. 100% of royalty income or Rs. 5,00,000 whichever is less
  • B. 100% of royalty income or Rs. 3,00,000 whichever is less
  • C. 50% of royalty income or Rs. 5,00,000 whichever is less
  • D. 50% of royalty income or Rs. 3,00,000 whichever is less
Mark Question:
Answer:

B

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Question 15

In “Teenage Years” life stage, one learns about ___________

  • A. Budgeting
  • B. Earned income
  • C. How money makes money
  • D. All of the above
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Answer:

B

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