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Free GLO_CWM_LVL_1 Exam Braindumps
Chartered Wealth Manager (CWM) Global Examination Questions 491–495 (page: 100)

Updated On: 10-Feb-2026
Page 100 of 213
PDF with 1057 Questions

Which of the following is not true in respect of the conditions essential for taxing income under the head income from House Property?

  1. The property must consist of buildings and land appurtenant there to
  2. The assessed may or may not be the owner of such house property
  3. 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.
  4. None of Above

Answer(s): D



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

  1. The depreciation charge remains uniform throughout the year.
  2. Depreciation charged in initial years is less than straight line method.
  3. The depreciation charge reduces throughout the life of the asset.
  4. None of the above

Answer(s): C



BCSBI Stands for

  1. Banking Codes and Standard Board of India
  2. Banking Credit and Standard Board of India
  3. Banking Codes and Service Board of India
  4. Banking Credit and Service Board of India

Answer(s): C



The concept of indemnity is based on the key principle that policyholders should be prevented from

  1. Insuring existing losses
  2. Making false insurance claims
  3. Paying excessively for insurance cover
  4. Profiting from insurance

Answer(s): D



A type of lease where there is no payment schedule and penalty for a set period of lines.

  1. True lease
  2. Sub lease
  3. Operating lease
  4. Skip lease

Answer(s): D



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