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AAFM GLO_CWM_LVL_1 Exam
Chartered Wealth Manager (CWM) Global Examination (Page 35 )

Updated On: 9-Feb-2026
Page 35 of 213
PDF with 1057 Questions

What is the prudent practice for parking emergency fund for a working young couple?

  1. 12 month's family income
  2. 1 month's family income
  3. 2-3 months family income
  4. None of the above

Answer(s): C



The assessed is charged to income-tax in the assessment year following the previous year:

  1. A non-resident business firm which shipped goods on 1.5.210 at Visakhapatnam Port in Andhra Pradesh
  2. An employee left India to USA on 1.8.2010 with no intention of returning
  3. ABC firm which discontinued its business on 1.9.2010
  4. An employee-assessed of a University who worked during 1.4.09 to 30.03.2010

Answer(s): D



"A borrower defaults on a secured loan of Rs. 50,000. The underlying security is worth Rs. 60,000.
Which of the following is true? "

  1. "Bank can retain Rs. 50,000. Balance Rs. 10,000 has to be paid to the borrower."
  2. Bank cannot sell the underlying security because its value is higher than loan.
  3. "Bank can retain the entire Rs. 60,000"
  4. "The excess of Rs. 10,000 has to be shared equally between the bank and the borrower."

Answer(s): A



Which of the following can be a scheduled bank?

  1. Public Sector Banks
  2. Private Sector Banks
  3. Co-operative Banks
  4. All of the above

Answer(s): D



Which of the following is not the non- formal sources of law?

  1. Custom
  2. Equity
  3. Precedents
  4. Standards of Justice

Answer(s): C






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