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AAFM CWM_LEVEL_2 Based on Real Exam Environment

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Question 72

Section A (1 Mark)

____________ is defined as a dollar per thousand dollars of assessed value of property and is used to calculate a property owner's tax bill.

Options:

A.

Mill

B.

Tax Burden

C.

Assessed Value

D.

Progressive Tax

Question 73

Section A (1 Mark)

In hedge funds the risk of no standard platform for measurement and no standard format for reporting is called __________________

Options:

A.

Process Risk

B.

Mapping Risk

C.

Transparent Risk

D.

Data Risk

Question 74

Section B (2 Mark)

A Family consists of karta, his wife four sons and their wires and children and its income is Rs. 1000000 if by family arrangement income yield property is settled on karta his wife and sons & daughter in law than tax liability would be

Options:

A.

Nil

B.

100000

C.

Calculated as per income tax Act 1961

D.

None of the above

Question 75

Section B (2 Mark)

Mr. A gifted debenture of Rs. 100000 to his wife. She received Rs. 10000 interest which she reinvests and earns Rs. 1000. This Rs. 1000 will be taxable in the hands of

Options:

A.

Mr. A or Mrs. A, at the choice of the Assessing Officer

B.

Mr. A

C.

Mrs. A

D.

Not Taxable

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Exam Code: CWM_LEVEL_2
Exam Name: Chartered Wealth Manager (CWM) Certification Level II Examination
Last Update: Apr 26, 2024
Questions: 1259
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