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AAFM GLO_CWM_LVL_1 Exam
Chartered Wealth Manager (CWM) Global Examination (Page 28 )

Updated On: 9-Feb-2026
Page 28 of 213
PDF with 1057 Questions

X Ltd. has failed to remit the tax deducted at source from annual rent of Rs. 6,60,000 paid to Mr. A for its office building. Said rent is --

  1. fully allowable as a business expenditure;
  2. not allowable in view of Section 40(a)(I);
  3. allowable to the extent of 50%;
  4. none of the above.

Answer(s): B



The legal heir of the deceased who receives family pension is allowed a standard deduction from such family pension received to the extent of:

  1. 1/3rd of such pension subject to maximum of Rs. 20,000
  2. 1/3rd of such pension or Rs. 15,000 whichever is less
  3. 1/3rd of such pension or Rs. 12,000 whichever is less
  4. 1/3rd of such pension or Rs. 12,500 whichever is less

Answer(s): B



All stock market indexes are most accurately characterized by which of the following statements about the degree to which they co-vary together?

  1. They are perfectly positively correlated
  2. They are highly positively correlated
  3. They are uncorrelated
  4. They are negatively correlated

Answer(s): B



Stock dividends cause

  1. The price of a share of stock to rise
  2. The price of a share of stock to fall
  3. The value of the firm to rise
  4. The value of the firm to fall

Answer(s): B



Types of shares are

  1. Preference shares
  2. Bank deposits
  3. Debentures
  4. All of the above

Answer(s): A






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