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GLO_CWM_LVL_1 AAFM Chartered Wealth Manager (CWM) Global Examination Free Practice Exam Questions (2025 Updated)

Prepare effectively for your AAFM GLO_CWM_LVL_1 Chartered Wealth Manager (CWM) Global Examination certification with our extensive collection of free, high-quality practice questions. Each question is designed to mirror the actual exam format and objectives, complete with comprehensive answers and detailed explanations. Our materials are regularly updated for 2025, ensuring you have the most current resources to build confidence and succeed on your first attempt.

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Total 1057 questions

DINK stands for _______

A.

Direct in kind funding

B.

Double income no kids

C.

Deep interest no kids

D.

None of the above

Which of the following is/are not the statutory objectives of Financial Service Authority(FSA) of UK?

A.

Only IV

B.

III and IV

C.

Only III

D.

None of the Above

Maximum no. of members in case of private company is

A.

50

B.

100

C.

150

D.

200

Under flexible exchange rates a small open economy should

A.

lose control of its monetary policy

B.

be insulated from its trading partners' inflation

C.

tend to experience the inflation of its trading partners

D.

find that changes in its interest rates match changes in its trading partner's interest rates

G-Secs and corporate securities are variants of

A.

Debt Market

B.

Equity Market

C.

Currency Market

D.

Commodity Market

Determination of monthly income & expenditure of client & his spouse can be done with the following steps. Arrange them in a logical order?

A.

I, III, II

B.

I, II, III

C.

III, I, II

D.

II, I, III

In ULIP plans, the returns are dependent on in which the investments are done by the insurance company

A.

Shares

B.

Fixed Deposit

C.

Foreign exchange rates

D.

None of the above

The Indian Taxation System by nature is...........

A.

Assertive

B.

Regressive

C.

Progressive

D.

None of the above

A situation in which an owner of more than 50% of voting shares can elect the entire board of directors is known as

A.

Distributed voting

B.

Cumulative voting

C.

Straight voting

D.

Discretionary voting

Wealth Erosion can happen due to _______

A.

Reduction in value of currency

B.

Fall in interest rates

C.

Inadequate insurance cover

D.

All of the above

Which of the following is not a part of scheduled banking structure in India?

A.

Money Lenders

B.

Public Sector Banks

C.

Private Sector Banks

D.

Regional Rural Banks

Risk can be

A.

Financial

B.

Non-Financial

C.

Both of the above

D.

None of the above

Where a coparcener with only his widow as legal heir dies, Can a partition be deemed as between the surviving coparcener and the widow on his death?

A.

Yes it is a deemed as a partition u/s 6 of Hindu succession Act

B.

Where the deceased dies issueless leaving a widow there is no question of a deemed partition u/s 6 of Hindu succession Act.

C.

None of the above

D.

Either of the Two

Who would get the first preference when the property of a deceased person is to be distributed

A.

Government

B.

Charitable societies

C.

Agnates

D.

Cognates

Open-ended funds have

A.

Units for purchase and sell on a daily basis

B.

have unit capital which is fixed

C.

A fixed maturity

D.

a price that is at a discount to NAV

Vishwajeet wishes to have a lump sum Retirement Fund of Rs. 25,00,000/- in 30 years time. Assuming that he can get 12% returns per annum, compounded annually, what amount he should save every year to reach his target?

A.

11254.24

B.

15432.12

C.

10359.14

D.

9845.47

Which of the following statement (s) is/are true about the rate risk?

A.

Interest risk is the uncertainty associated with changes in interest rates, the possibility of loss resulting from increases in interest rates.

B.

Interest risk refers to the tendency of security prices, especially fixed income securities, to move inversely with changes in the rate of interest.

C.

Only option A

D.

Option A & B both

Comprehensive Wealth Management addresses

A.

Life Planning

B.

Investment Planning

C.

Estate Planning

D.

All of the above

Minimum number of independent directors on the board of asset Management Company is

A.

50%

B.

60%

C.

75%

D.

66.67%

Expenditure incurred by an employer on medical treatment and stay abroad of the employee shall not be taxed in the case of ___________.

A.

an employee whose gross total income before including the said expenditure does not exceed Rs. 2 lakhs.

B.

an employee whose income under the head “Salaries” exclusive of all monetary perquisites does not exceed Rs. 2 lakhs,

C.

an employee whose income under the head “Salaries” exclusive of allnon-monetary perquisites does not exceed Rs. 2 lakhs,

D.

all employees irrespective of their amount of gross total income/the amount of income under the head “Salaries”.

How many members are required to form a society?

A.

One single person

B.

Two or more

C.

Five or more persons

D.

Seven or more

ln the Transfer of property Act, immovable property does not include

A.

Building

B.

Land

C.

Pond

D.

Standing timber

What do you mean by deceased to have died intestate?

A.

Person died with not estate

B.

Receive property from a deceased person

C.

Person dies without a will or a valid will

D.

Person named in the will to carry out the settlement of an estate

Fixed exchange-rate systems maintained by a gold standard have difficulty achieving equilibrium if

A.

the money supply rises with surpluses.

B.

the money supply falls with deficits.

C.

inflation of costs and prices occurs with a balance-of-payments surplus.

D.

changes in the money supply are unrelated to the state of the balance of payments.

An inverted yield curve implies that:

A.

Long-term interest rates are lower than short-term interest rates.

B.

Long-term interest rates are higher than short-term interest rates.

C.

Long-term interest rates are same as short-term interest rates.

D.

Intermediate term interest rates are higher than either short-or long-term interest rates.

A copy of the rules & regulations of the society, certified to be correct copy by not less than_____________ of the members of the governing body shall be filled with the MOA

A.

Five

B.

Four

C.

Three

D.

Two

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 must consist of buildings and land appurtenant there to

B.

The assessed may or may not be the owner of such house property

C.

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.

D.

None of the above

Under the current international monetary system,

A.

each country can choose whether it wants a fixed or a floating exchange rate.

B.

surveillance is conducted by the International Monetary Fund (IMF) over the exchange-rate policies of its members.

C.

there is joint floating by some countries.

D.

All of the above.

Open Market Operations is an important tool for central banks in ___________.

A.

bullish equity market conditions

B.

bearish equity market conditions

C.

countries where debt market is developed

D.

countries where debt market is under-developed

The risk measure used for calculating Treynor Index is:

A.

Alpha

B.

Variance

C.

Beta

D.

Standard Deviation

Wealth Conservation is _____________

A.

Ways to maximize tax efficiency of current assets and cash flows while achieving capital growth and preservation goals

B.

Using insurance to ensure wealth is protected

C.

Legally structuring the future disposition of current assets to minimize the benefits to chosen beneficiaries

D.

None of the above

Liquid assets comprise

A.

Certificate of Deposits

B.

Money Market Mutual Funds

C.

Funds in savings account

D.

All of the above

The income received by the approved superannuation fund on the investments made by the fund is

A.

Exempt from income tax

B.

Taxed as the concession rate of 10% of the income

C.

Tax at the hands of employees concerned based on the share of each employee

D.

Taxed under Capital Gains Tax depending upon the nature of investment

Income which accrue or arise outside India from a business controlled from India is taxable in case of:

A.

Resident only

B.

Not ordinarily resident only

C.

Both ordinarily resident and not ordinarily resident

D.

Non resident

In Islamic Banking, Anything permitted by Shariah is called:

A.

Israf

B.

Halal

C.

Haram

D.

Hibah

The credit balance in Non resident (external) account is exempt from wealth tax provided depositor is a person

A.

Resident in India

B.

Resident outside India

C.

Resident put not ordinarily resident in India

D.

None of the above

Speculative risk can result in

A.

Gain

B.

Loss

C.

Status Quo

D.

All of the above

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