Practice CWM_LEVEL_1 Exam Online

Question 1

What is the quantum of deduction allowed u/s 80U?

A : Rs. 40,000

B : Rs. 75,000

C : Rs. 60,000

D : Rs. 55,000

Answer: D

Question 2

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

Question 3

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 4

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 5

How many members are needed to form a society?

A : One single person

B : Two or more

C : Five or more persons

D : Seven or more

Answer: C

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