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Free AAFM GLO_CWM_LVL_1 Practice Exam with Questions & Answers | Set: 15

Questions 281

Which of the following is true for written down value method of calculating depreciation?

Options:
A.

The depreciation charge remains uniform throughout the year.

B.

Depreciation charged in initial years is less than straight line method.

C.

The depreciation charge reduces throughout the life of the asset.

D.

None of the above

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Questions 282

What is the most essential characteristic to be in existence at the stage of establishing client relationship?

Options:
A.

Collection of personal details

B.

Establishing trust and confidence

C.

Data gathering from the client

D.

Providing the client with an healthy atmosphere

Questions 283

Transfer of Property Act came into force on

Options:
A.

July 01, 1882

B.

August 01, 1882

C.

September 01, 1882

D.

October 01, 1882

Questions 284

A Bank is under a statutory obligations to honor its consumer’s Cheque vide

Options:
A.

Section 10 of banking regulation act 1949

B.

Section 3 of the RBI act 1934

C.

Section 31 in the Negotiable Instruments Act, 1881

D.

All of the above

Questions 285

A firm’s earnings decline because of a strike, this is an example of:

Options:
A.

Market Risk

B.

Business Risk

C.

Unsystematic Risk

D.

Option B and C

Questions 286

Depreciation expenses would be classified as:

Options:
A.

Operating cash flow

B.

Investing cash flow

C.

Financing cash flow

D.

No cash flow impact

Questions 287

The role of a wealth manager can be best defined as which of the following?

Options:
A.

Make informed decision to the clients

B.

Develop a sound financial plan

C.

Review the financial plan

D.

All of the above

Questions 288

The Unit Banking system is prevalent in

Options:
A.

Canada

B.

Great Britain

C.

USA

D.

Pakistan

Questions 289

Open Market Operations is an important tool for central banks in ___________.

Options:
A.

bullish equity market conditions

B.

bearish equity market conditions

C.

countries where debt market is developed

D.

countries where debt market is under-developed

Questions 290

Onshore wealth management involves ____________

Options:
A.

Suggesting products and services available across the globe

B.

Suggesting products and services available within the client’s country of residence

C.

Suggesting products and services available outside the client’s country of residence

D.

None of the above

Questions 291

Employees Provident Fund is applicable to firms employing over _______________ employees

Options:
A.

20

B.

15

C.

10

D.

25

Questions 292

In case of yearly, half yearly or quarterly premium payments …………… days of grace.

Options:
A.

10 Days

B.

15 Days

C.

20 Days

D.

30 Days

Questions 293

DINK stands for _______

Options:
A.

Direct in kind funding

B.

Double income no kids

C.

Deep interest no kids

D.

None of the above

Questions 294

Which one of the following Sections of the Transfer of Property Act defines “Transfer of Property”?

Options:
A.

Section3

B.

Section4

C.

Section 5

D.

Section 6

Questions 295

Joint account of two or more NRIs are permitted in case of:

Options:
A.

FCNR a/c

B.

NRE a/c

C.

NRO a/c

D.

All of the above

Questions 296

If the assessed lets out his house to his employer, which in turn allots the same to him as rent free accommodation? How would such house property will be treated as:

Options:
A.

Self occupied

B.

Let out

C.

Partly let out & partly self occupied

D.

Partly let out and partly vacant

Questions 297

The interest payable for a housing loan outside India is not allowed as a deduction U/S 24 (1) while computing the income from house property?

Options:
A.

True

B.

FALSE

Questions 298

Gift received is not taxable in hands of

Options:
A.

Individual

B.

HUF

C.

Society

D.

None of the above

Questions 299

Income which accrue or arise outside India from a business controlled from India is taxable in case of:

Options:
A.

Resident only

B.

Not ordinarily resident only

C.

Both ordinarily resident and not ordinarily resident

D.

Non resident

Questions 300

Financial Independence usually occurs between _______

Options:
A.

40-55

B.

55-70

C.

70-85

D.

None of the above

Exam Code: GLO_CWM_LVL_1
Certification Provider: AAFM
Exam Name: Chartered Wealth Manager (CWM) Global Examination
Last Update: Jul 15, 2025
Questions: 1057

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