Full GLO_CWM_LVL_1 Practice Test and 1027 unique questions with explanations waiting just for you!
Chartered Wealth Manager Dumps GLO_CWM_LVL_1 Exam for Full Questions - Exam Study Guide
NEW QUESTION 473
The holding period return on a stock was 30%. Its ending price was Rs.26 and its cash dividend was Rs.1.50.
Its beginning price must have been __________.
- A. Rs.86.67
- B. Rs. 91.67
- C. Rs.21.15
- D. Rs.20.00
Answer: A
NEW QUESTION 474
If one earns 10% on investment but inflation is 2%, real rate of return is
- A. 7.70%
- B. 10%
- C. 8%
- D. 7.84%
Answer: D
NEW QUESTION 475
Vikrant Juneja gifted his house property to his wife in year 2007. Mrs. Juneja then lets out this house @ Rs.
5000 per month. The income from such house property will be taxable in the hands of:
- A. Mrs. Juneja
- B. Anyone amongst both of them, whose income is greater.
- C. Vikrant. However income will be computed first as Mrs. Juneja's income and thereafter clubbed in the income of Manish.
- D. Vikrant, as he will treated as deemed owner & liable to pay tax
Answer: D
NEW QUESTION 476
CAMELS framework was first used in _______.
- A. US
- B. Canada
- C. UK
- D. India
Answer: A
NEW QUESTION 477
Which of the following is not true about traditional defined benefit plans?
- A. A defined benefit plan provides an individual account for each employee who participates
- B. A defined benefit plan can provide benefits for service prior to establishment of the plan
- C. A defined benefit plan provides a specified retirement benefit, and is funded based on actuarial assumptions
- D. A defined benefit plan provides higher proportionate benefits for key employees when key employees as a group are older than rank and file employees
Answer: A
NEW QUESTION 478
Seigniorage is ____________
- A. Difference between value of money and cost to produce it
- B. Cost of printing money
- C. None of the above
- D. Value of money
Answer: A
NEW QUESTION 479
No society shall be dissolved unless .....................of the member shall have expressed a will for dissolution by their other
- A. Two fifth
- B. All the members
- C. Three fifth
- D. One fifth
Answer: C
NEW QUESTION 480
Your client, a businessman has a house worth Rs. 2.1 crore and a farm house worth Rs. 85 lakh. His business is worth Rs. 10 crore as per last balance sheet. He has two other partners in the business having stakes of 24% each. He has two cars purchased at Rs. 40 lakh and Rs. 20 lakh, the latter being in personal account. The cars have depreciated/market value at Rs. 30 lakh and Rs. 8 lakh, respectively. His joint Demat account, wife being primary holder, has stocks worth Rs. 1.65 crore. The business has taken Keymans insurance on his life of value Rs. 1.5 crore. He has himself insured his life for an assured sum of Rs. 1.5 crore. You evaluate your client's estate in case of any exigency with his life as _____.
- A. Rs. 5.73 crore
- B. Rs. 8.20 crore
- C. Rs. 10.51 crore
- D. Rs. 9.56 crore
Answer: C
NEW QUESTION 481
What is the interest rate corresponding to a discount rate of 10%?
- A. 11.11%
- B. 11.15%
- C. 9.09%
- D. 9.15%
Answer: A
NEW QUESTION 482
_______ prospectus were issued in order to test the market before finalizing issue size/ price
- A. Red herring
- B. None of the above
- C. Shelf
- D. Deemed
Answer: A
NEW QUESTION 483
The following is not 'plant' u/s 43(3) of the Income-Tax Act, 1961
- A. Road in the factory building
- B. Books
- C. Electrical fittings
- D. Know-how
Answer: A
NEW QUESTION 484
The difference between a wagering contract and insurance contract is ___________.
- A. The insured has an insurable interest in the subject matter of insurance.
- B. Parties involved
- C. None of the above
- D. Money involved
Answer: A
NEW QUESTION 485
How many members are required to form a society?
- A. Two or more
- B. Seven or more
- C. One single person
- D. Five or more persons
Answer: B
NEW QUESTION 486
Which of the following is allowed as deduction from net annual value of a property?
- A. Insurance premium
- B. All the above
- C. Repairs & collection charges
- D. Interest on loan borrowed for repairs
Answer: D
NEW QUESTION 487
If after the partition of an HUF 2 members became partners in 3 firms on behalf of their respective HUFs and they also become partners in a fourth firm. The funds were obtained by means of loans from the other 3 firms.
The share incomes of the members from the fourth firm were assessable as their individual income only.
- A. TRUE
- B. FALSE
Answer: A
NEW QUESTION 488
Which of the following are covered in the Banking Ombudsman Scheme?
- A. Both of the above
- B. Scheduled Primary Co-operative Banks
- C. None of the above
- D. RRBs
Answer: A
NEW QUESTION 489
A testamentary trust is affected after the
- A. Beneficiary attiring age of 18
- B. Death of the owner
- C. Death of the trustee
- D. Retirement of the owner
Answer: B
NEW QUESTION 490
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