GLO_CWM_LVL_1 Actual Questions Answers PDF 100% Cover Real Exam Questions
GLO_CWM_LVL_1 Exam questions and answers
NEW QUESTION 509
Mr. Vivek Kalra deposits Rs.11,00,000 today in an investment that would pay after 6 years Rs. 1,00,000 per year for 5 years and Rs. 1,50,000 for the next 5 years. What would be the balance in the account after the last payment is made if the ROI is 18% per annum compounded annually.?
- A. 0
- B. 1
- C. 2
- D. 3
Answer: D
NEW QUESTION 510
PPF is a
- A. Mandatory program for every employee
- B. Mandatory for every Income Tax assessed
- C. None of the above
- D. Self directed retirement program
Answer: D
NEW QUESTION 511
Which of the following statement(s) is /are true about financial risk?
- A. I and II
- B. I and III
- C. II and III
- D. All of the above
Answer: D
NEW QUESTION 512
Mr. Kumar is a 40 year old NRI working abroad for past 5years. He invests Rs. 50, 000/- p.a. for past 5 years and wants to continue until his return to India. He plans to return to India after 10 years from now and enjoy his life back home. Inflation is expected to be 4% for next 30 years and his investment earns 6% interest. His expected life expectancy is 70 years. What would be his corpus at the time of return to India, and what amount he can with draw per month for his household expenses?
- A. Rs. 12,14,279/- and Rs. 9,554
- B. Rs. 13,12,008/- and Rs. 7,008
- C. Rs. 12,14,279/- and Rs. 6,358
- D. Rs. 11,63,798/- and Rs. 5,845
Answer: D
NEW QUESTION 513
A "Mass Affluent" segment client has investible assets worth of
- A. $200,000
- B. $50,000
- C. None of the above
- D. $100,000
Answer: D
NEW QUESTION 514
"Annuity certain" is
- A. Designed to pay for a fixed time period
- B. None of the above
- C. Designed to pay for an indefinite time period
- D. When one amount is fixed for 5 years and another amount is paid for rest of the life span
Answer: A
NEW QUESTION 515
In case of public company memo must be signed by atleast ....... persons.
- A. Ten
- B. Seven
- C. Two
- D. One
Answer: B
NEW QUESTION 516
Which of the following is not true in respect of the conditions essential for taxing income under the head income from House Property?
- A. 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.
- B. The property must consist of buildings and land appurtenant there to
- C. The assessed may or may not be the owner of such house property
- D. None of Above
Answer: D
NEW QUESTION 517
Yash pays health insurance premiums for himself, his wife and his two children aged 13 and 8. Premiums for which of these individuals will qualify as deductible from Yash's taxable income?
- A. Yash only
- B. Yash, his wife and both his children
- C. Yash, his wife and his oldest child
- D. Yash and his wife only
Answer: B
NEW QUESTION 518
Once the child reaches the vesting age, i.e. the age when the life assurance commences, he or she can claim cash option i.e. he can opt to receive the premium amount paid so far under the policy in case the policy is discontinued. This is possible under:
- A. Childrens Whole Life assurance
- B. Childrens term-life assurance
- C. Childrens deferred assurance
- D. Childrens forward assurance
Answer: C
NEW QUESTION 519
Tax exemption limit for the lump sum received towards Leave encashment on retirement is at
_______________
- A. Rs. 3.5 lacs
- B. Rs. 3 lacs
- C. Rs. 2.4 lacs
- D. Rs. 2 lacs
Answer: B
NEW QUESTION 520
Which one of the following statements is/are correct?
- A. Both are correct
- B. Both are incorrect
- C. (ii) only
- D. (i) only
Answer: A
NEW QUESTION 521
Mr.Singhvi is a senior manager in a advertising firm in Mumbai. During the previous year 2011-12, he gets the following emoluments: Basic salary Rs.30, 000 per month, dearness allowance: 10% of basic salary, city compensatory allowance: Rs.300 per month, children education allowance:Rs.500 per month (for 3 children), house rent allowance: 20% of salary (rent paid Rs.2000 per month).
He gets Rs. 21,000 as a reimbursement from his employer in respect of medical expenditure incurred on treatment of his wife in a private clinic. Besides, he gets Rs.12, 400 as reimbursement from the employer in respect of books and journals purchased by him in discharging his official work. He contributes 11% of his salary to statutory provident fund to which a matching contribution is made by the employer. During the year, he spends Rs.15, 000 for maintaining a car for going to the college.
Determine his net income under the head of salaries.
- A. 0
- B. 1
- C. 2
- D. 3
Answer: C
NEW QUESTION 522
Which of the following statements in reference to REPO Rate is/are correct?
- A. I and II
- B. I and III
- C. II and III
- D. I,II and III
Answer: D
NEW QUESTION 523
In book building method, if floor price is set at 100, what can be the maximum price of the cap?
- A. 0
- B. 1
- C. 2
- D. 3
Answer: B
NEW QUESTION 524
Deflation is__________
- A. A Boon
- B. A phenomenon which has a number of negative aspects.
- C. Good for developed countries
- D. Good for developing economics
Answer: B
NEW QUESTION 525
Major phases of budgeting process are:
- A. Assessing current situation and planning financial direction
- B. None of the above
- C. Assessing Current situation and recommendation of products
- D. Recommendation of products and Planning Financial direction
Answer: A
NEW QUESTION 526
Whom should an individual apply intending to be appointed as director of a company?
- A. Central government
- B. Registrar of companies
- C. Company law board
- D. Board of directors of company
Answer: A
NEW QUESTION 527
An individual has recently purchased a house worth Rs. 40 lakh for self-occupation by availing housing loan of Rs. 28 lakh at 9.25% p.a. rate of interest. The tenure of loan is 18 years. He has Rs. 12 lakh financial assets at present. He is expected to save annually Rs. 2 lakh which he invests on a quarterly basis beginning a quarter from now in an instrument which is expected to provide return of 9% p.a. What would be his net worth five years from now? The value of the house which is for consumption purposes is not considered in the net worth so arrived.
- A. Rs. 7.36 lakh
- B. Rs. 18.82 lakh
- C. Rs. 2.83 lakh
- D. Rs. 6.68 lakh
Answer: D
NEW QUESTION 528
The expected return and standard deviations of stock A & B are:
Amit buys Rs.20,000 of Stock A and sells short Rs.10,000 of Stock B using all the Proceeds to buy more or Stock A.
The correlation Between the two securities is .35. What are the expected return & standard deviation of Amit's portfolio?
- A. 20%, 14.5%
- B. 9.8%, 15.6%
- C. 3.5%, 15.5%
- D. 8.8%, 7.03%
Answer: A
NEW QUESTION 529
A person is on the verge of retirement. He has sufficient funds to meet his daily regular expenses and even he has sufficient insurance coverage. He owns a house property. His family consists of him and his wife only. As a Chartered Wealth manager, which insurance policy would you suggest him?
- A. Both B & C.
- B. Med claim policy.
- C. Regular annuity policy.
- D. Householders policy.
Answer: A
NEW QUESTION 530
Wealth Enhancement is _____________
- A. Using insurance to ensure wealth is protected
- B. Legally structuring the future disposition of current assets to minimize the benefits to chosen beneficiaries
- C. None of the above
- D. Ways to maximize tax efficiency of current assets and cash flows while achieving capital growth and preservation goals
Answer: D
NEW QUESTION 531
Partition can be effected orally & there is no requirement in law that the partition must the evident try a written agreement
- A. FALSE
- B. TRUE
Answer: B
NEW QUESTION 532
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