GLO_CWM_LVL_1 Free Exam Questions & Answers PDF Updated on Nov-2021
Latest GLO_CWM_LVL_1 Exam Dumps Recently Updated 1027 Questions
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NEW QUESTION 538
Mr. Rajesh was the owner of an uninsured property. But unfortunetaly the property caught fire because of which he suffered severe financial losses. The reason Mr. Rajesh suffered losses as he did not cover:
- A. The investment risk
- B. The dynamic risk
- C. The speculative risk
- D. The pure risk
Answer: D
NEW QUESTION 539
Gift received is not taxable in hands of
- A. None of the above
- B. Society
- C. Individual
- D. HUF
Answer: B
NEW QUESTION 540
Which of the following is/are the key issues in retirement planning of self employed/ business class?
- A. All of these
- B. II,III and IV
- C. I,III and IV
- D. I,II and IV
Answer: D
NEW QUESTION 541
An assessee was allowed deduction of unrealized rent to the extent of Rs. 40,000 in the past although the total unrealized rent was Rs. 60,000. He is able to recover from the tenant Rs.45,000 during the previous year on account of such unrealized rent. He shall be liable to tax to the extent of:
- A. Rs. 35,000
- B. Rs. 25,000
- C. Nil
- D. Rs. 45,000
Answer: B
NEW QUESTION 542
Alok a 28 years old person has joined SABH on 1/07/2006. His monthly salary (net salary) after deduction is payable Rs. 22500/. His monthly expenses details are as follows:
Assume Alok takes a flat on rent from 01 /07/2006. On 01 /07/2006 he has cash in hand Rs. 1450/-. He starts paying insurance premium from October @ Rs. 2500/- pm. His investments in Mutual fund SIP are Rs. 3000/- pm for a 6 month period. What will be his cash in hand on 31/03/2007.?
- A. None of the above
- B. Rs.69070/-
- C. Rs.72150/-
- D. Rs.83150/
Answer: B
NEW QUESTION 543
"Annuity certain" is
- A. None of the above
- B. Designed to pay for a fixed time period
- C. When one amount is fixed for 5 years and another amount is paid for rest of the life span
- D. Designed to pay for an indefinite time period
Answer: B
NEW QUESTION 544
Which of the following is not true in respect of the conditions essential for taxing income under the head income from House Property?
- A. None of the above
- B. 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.
- C. The assessed may or may not be the owner of such house property
- D. The property must consist of buildings and land appurtenant there to
Answer: C
NEW QUESTION 545
The premium on all other riders put together should not exceed _____ of the premium on the base policy
- A. 20%
- B. 30%
- C. 50%
- D. 10%
Answer: B
NEW QUESTION 546
You as a Chartered Wealth Manager have been approached by a client who is depositing some amount in an account that pays a ROI of 12% p.a compounded monthly. She also has an option of investing in another account that pays ROI 12.76% p.a. compounded annually. She wants to know which of these is a better choice.
- A. 12% P.A compounded monthly is better by .0775%
- B. 12.76% P.A. Compounded Annually is better
- C. 12.76% P.A. is better by .0775 %
- D. 12% P.A compounded monthly is better
Answer: C
NEW QUESTION 547
"Consider the following information for three stocks, Stock A, Stock B, and Stock C.
The returns on each of the three stocks are positively correlated, but they are not perfectly correlated.
Portfolio X has half of its funds invested in Stock A and half invested in Stock B.
Portfolio Y has invested its funds equally in each of the three stocks. The risk-free rate is 5%, and the market is in equilibrium.
Which of the following statements is/are correct?
- A. Only II
- B. II and III
- C. I,II and III
- D. Only IV
Answer: A
NEW QUESTION 548
Calculate the death claim amount if the assured dies in the 25th year of the policy. Money back policy with SA of Rs. 50000. Term is 25 years. Survival benefits of 10% each paid at the end of 5th , 10th, 15th, and 20th years. Accrued bonus of Rs. 500 per thousand of SA.Interim bonus of Rs. 75 per 1000 of SA.
- A. 0
- B. 1
- C. 2
- D. 3
Answer: C
NEW QUESTION 549
The assessed is charged to income-tax in the assessment year following the previous year:
- A. ABC firm which discontinued its business on 1.9.2010
- B. An employee left India to USA on 1.8.2010 with no intention of returning
- C. An employee-assessed of a University who worked during 1.4.09 to 30.03.2010
- D. A non-resident business firm which shipped goods on 1.5.210 at Visakhapatnam Port in Andhra Pradesh
Answer: C
NEW QUESTION 550
A fraud is discovered with respect to an loan that has turned NPA. When is the earliest that it can be treated as a doubtful asset?
- A. Has remained sub-standard for upto 2 quarters
- B. Immediately
- C. Has remained NPA for upto 1 year
- D. Has remained NPA for upto 1 quarter
Answer: B
NEW QUESTION 551
Fine in case of cheque bouncing can go up to _________.
- A. Rs. 5 lakh
- B. twice the cheque amount
- C. thrice the cheque amount
- D. cheque amount
Answer: B
NEW QUESTION 552
An HUF consisted of a father who is a widower his three sons and a daughter upon death of the father, what will be the share of his daughter?
- A. One sixteenth share in HUF property
- B. One half of HUF property
- C. No share in HUF property
- D. One fourth of HUF property
Answer: D
NEW QUESTION 553
Which of following is not an exclusion under a health policy?
- A. Intentional self inflicted injury
- B. Accident injury
- C. Pre existing conditions
- D. Elective surgery
Answer: B
NEW QUESTION 554
Which of the following statements is/ are correct?
- A. I II and III
- B. All statements are true
- C. I,III and IV
- D. IIand IV
Answer: D
NEW QUESTION 555
The Bretton Woods system was set up on the theory that
- A. the gold standard would ultimately be restored.
- B. exchange rates would be used to achieve equilibrium.
- C. deficits were temporary and could be financed by international assistance.
- D. balance-of-payments deficits should be related to decreases in a country's money supply.
Answer: C
NEW QUESTION 556
A document proposing to be a will which deliberately executed with all due formalities required for a valid will is called:
- A. Holograph will
- B. Concurrent will
- C. Sham will
- D. Duplicate will
Answer: C
NEW QUESTION 557
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