Free GLO_CWM_LVL_1 Exam Braindumps (page: 19)

Page 18 of 266

In case where amount of wealth tax exceeds one hundred thousand rupees rigorous imprison-ment for a term not be less than ............

  1. One month which may extend to one year
  2. Only fine
  3. Six months which may extend to 7 years
  4. On year to 10 years

Answer(s): C



Aakash a trustee for Mahesh allows the trust to be executed solely by his co-trustee, Suresh. Suresh misapplies the trust property. Is Aakash personally answerable to the loss?

  1. Yes
  2. No

Answer(s): A



Following is/ are the component(s) of Personal Financial Statements

  1. Cash Flow Statement
  2. Income Statement
  3. Balance Sheet
  4. All of the above

Answer(s): D



In a life insurance contract, offer refers to

  1. Proposer paying the first premium
  2. Proposer's application form for insurance
  3. Original policy bond
  4. Company brochure duly authenticated

Answer(s): B






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