Practice CWM_LEVEL_1 Exam Online

Question 1

A person is said to be Agnate of another if the two of them are

A : Related by blood or adoption entirely or wholly through males

B : Related by blood or adoption entirely or wholly through females

C : Related by blood or adoption entirely or wholly through their relatives

D : Related by blood or adoption entirely or wholly through the guardian other than family member

Answer: A

Question 2

What is the amount of deduction in relation to Tea, Coffee and Rubber development account u/s 33AB of Income Tax Act?

A : 20% of profits of such business

B : 40% of profits of such business

C : 60% of profits of such business

D : 100% of profits of such business

Answer: B

Question 3

At the money option will generate

A : Positive cash flows

B : Zero cash flow

C : Negative cash flows

D : None of the above

Answer: A

Question 4

For claiming exemption u/s 546, the assessee shall acquire the new asset within

A : 2 years from the date of transfer

B : 3 years from the date of transfer

C : One year before or 2 years after the date of transfer

D : One year before or 3 years from the date of transfer

Answer: C

Question 5

Statement I: Financial risk is associated with a firm's sources of financing.

Statement II: The use of financial leverage is the source of financial risk

A : Statement I is correct.

B : Statement II is correct

C : Both statements are correct.

D : Both statements are incorrect.

Answer: B

Name:	Chartered Wealth Manager (CWM) Certification Level 1 Examination
Exam Code:	CWM_LEVEL_1
Certification:	AAFM Certification
Vendor:	AAFM
Total Questions:	138
Last Updated:	Apr 22, 2024

AAFM CWM_LEVEL_1