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Pass the AAFM Chartered Wealth Manager GLO_CWM_LVL_1 Questions and answers with CertsForce

Viewing page 7 out of 16 pages
Viewing questions 121-140 out of questions
Questions # 121:

Compulsory audit of account is required u/s 44AB of IT, if the total sales/ turnover exceed _______

Options:

A.

Rs. 10,00,000


B.

Rs. 40,00,000


C.

Rs 60,00,000


D.

Rs. 1,00,00,000


Expert Solution
Questions # 122:

The minimum service required for entitlement to payment of gratuity under the Act, in case of an employee leaving service by death or incapacitation is

Options:

A.

2 years


B.

3 years


C.

5 years


D.

No minimum service required


Expert Solution
Questions # 123:

An investor buys 200 units of a Mutual Fund scheme having a reinvestment option at Rs.10.5 on Jan 6, 2011. On June 30, 2011 scheme declares a dividend @10%. The ex-dividend N.A.V. was Rs.10.25. On March12, 2012 the fund N.A.V was Rs.12.25. Calculate CAGR?

Options:

A.

23.45%


B.

27.11%


C.

23.29%


D.

23.99%


Expert Solution
Questions # 124:

Akash has only compulsory third party policy for his car. He jumped a red light and collided with another car and then with the boundary wall of a nearby house. Damage to his car was of Rs. 17,000/-, damage to other car was of Rs. 15,000/- and damage to the boundary wall of house was of Rs. 15,000. The insurance policy of Akash will pay:

Options:

A.

Rs. 17,000


B.

Rs. 15,000


C.

Rs. 30,000


D.

Rs. 47,000


Expert Solution
Questions # 125:

Which of the following statement is true?

Options:

A.

The Jensen index compares actual performance to the risk-adjusted required performance.


B.

The Treynor index assumes that portfolios are not well diversified.


C.

The Sharpe index standardizes performance by the portfolio's beta.


D.

Option A and B


Expert Solution
Questions # 126:

Document required to open a bank account is/are

Options:

A.

Identity Proof


B.

Residence Proof


C.

Photographs


D.

All of the above


Expert Solution
Questions # 127:

The following is not ‘plant’ u/s 43(3) of the Income-Tax Act, 1961

Options:

A.

Books


B.

Know-how


C.

Road in the factory building


D.

Electrical fittings


Expert Solution
Questions # 128:

"To be sure to receive same day credit on a Saturday, NEFT instruction has to be given by _______."

Options:

A.

11:30 AM


B.

11:00 AM


C.

12 Noon


D.

12:30 PM


Expert Solution
Questions # 129:

In case of resident of India, income from property situated in foreign country is taxable

Options:

A.

When it is received in India


B.

When it is brought in India or not


C.

Whether it is received in India or not


D.

Not taxable


Expert Solution
Questions # 130:

In case where amount of wealth tax exceeds one hundred thousand rupees rigorous imprison-ment for a term not be less than …………

Options:

A.

One month which may extend to one year


B.

Only fine


C.

Six months which may extend to 7 years


D.

On year to 10 years


Expert Solution
Questions # 131:

The trust is empty at creation during life and will transfer the property into the trust at death

Options:

A.

Special trust


B.

Will trust


C.

Secret trust


D.

Pourover trust


Expert Solution
Questions # 132:

Deduction under section 80QQB is allowed in respect of royalty income to:

Options:

A.

an individual who is an author of a book


B.

an individual who is resident in India and who is an author of a book


C.

an individual who is resident in India who is either an author of a book or a joint author of the book


D.

None of These


Expert Solution
Questions # 133:

Risk that can be eliminated through diversification is called ______ risk.

Options:

A.

Unique


B.

Firm-specific


C.

Diversifiable


D.

All of the above


Expert Solution
Questions # 134:

Which of the is/are not the risk management technique in the old paradigm of Life Cycle Finance?

Question # 134

Options:

A.

Only II


B.

II and IV


C.

III and IV


D.

Only IV


Expert Solution
Questions # 135:

A good wealth management plan must include an analysis of all of the following EXCEPT

Options:

A.

Where you are now


B.

Where you want to be


C.

Why you failed previously


D.

How to reach your goals


Expert Solution
Questions # 136:

Cash credit is treated as out of order if ____________.

Options:

A.

No credits continuously for 90 days


B.

Credits not adequate to cover interest for 90 days


C.

Either of the above


D.

None of the above


Expert Solution
Questions # 137:

The provision of fraudulent transfer is given in-

Options:

A.

Section 49 of the Transfer of Property Act, 1882


B.

Section 50 of the Transfer of Property Act, 1882


C.

Section 51 of the Transfer of Property Act, 1882


D.

Section 53 of the Transfer of Property Act, 1882


Expert Solution
Questions # 138:

A person is said to be Cognate of another if the two of them are related by blood or adoption entirely or wholly through males.

Options:

A.

TRUE


B.

FALSE


Expert Solution
Questions # 139:

In a life insurance contract, offer refers to

Options:

A.

Proposer paying the first premium


B.

Proposer’s application form for insurance


C.

Original policy bond


D.

Company brochure duly authenticated


Expert Solution
Questions # 140:

Which of the following is not a business risk?

Options:

A.

Change of business cycles


B.

Change in Government policy


C.

Change in Government Law which affecting a particular industry


D.

Changes in Interest Rate


Expert Solution
Viewing page 7 out of 16 pages
Viewing questions 121-140 out of questions