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PDF CWM_LEVEL_2 Study Guide

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Question 172

Section C (4 Mark)

Read the senario and answer to the question.

Assuming that Mahesh owns a building which he insures along with its contents for Rs. 12 lakh. However the market value of the building and its content is Rs. 15 lakh. Assuming that the building along with its contents is partially destroyed by fire and the loss assessed of Rs. 1 lakh what is the amount of money insurance company would pay as claim reimbursement to Mahesh?

Options:

A.

Rs. 85000

B.

Rs. 82000

C.

Rs. 80000

D.

Rs. 95000

Question 173

Section A (1 Mark)

In US which of the following is classified as passive income?

Options:

A.

Bonus income

B.

Gain on the sale of real estate

C.

Interest income

D.

Income from a limited partnership

Question 174

Section B (2 Mark)

Financial Year 2012-13 shall be considered as

Options:

A.

Assessment Year for the previous year 2011-12 and previous year for the assessment year 2013-14

B.

Previous year for the assessment year 2011-12

C.

Assessment Year for the previous year 2011-12 and previous year for the assessment year 2012-13

D.

Assessment Year for the previous year 2011-12

Question 175

Section A (1 Mark)

Current ratio is

Options:

A.

Current Cash / Current liabilities

B.

Current Assets / Current liabilities

C.

Current Liabilities / Current assets

D.

None of the above

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Exam Code: CWM_LEVEL_2
Exam Name: Chartered Wealth Manager (CWM) Certification Level II Examination
Last Update: Mar 28, 2024
Questions: 1259
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