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Sure Pass Exam GLO_CWM_LVL_1 PDF

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Question 88

EDLI is applicable to all establishments which

Options:

A.

Employ 20 or more person and are engaged in 180 specified industries

B.

Co-operative society employing more than 50 persons without the aid of power

C.

Want to come under voluntarily

D.

All of the above

Question 89

What is the exemption criteria U/S 10(10) (ii) of the IT Act, 1961 for any gratuity received by a seasonal employee?

Options:

A.

Exemption limit is least of there:

(i) 7 day’s wages (calculated as 26 working days in a month) based on last drawn salary for every number of seasons worked,

(ii) Rs. 3,50,000/-,

(iii) Actual gratuity received

B.

Exemption limit is least of three:

(i) 7 day’s wages based on last drawn salary for every number of seasons worked,

(ii) Rs. 3,00,000/-,

(iii) Actual gratuity received

C.

Exemption limit is least of three:

(i) 15 day’s wages based on last drawn salary for every completed year

(ii) Rs. 3,50,000/-,

(iii) Actual gratuity received

D.

Exemption limit is least of three:

(i) 15 day’s wages based on last drawn salary for every completed year

(ii) Rs. 4,00,000/-,

(iii) Actual gratuity received

Question 90

Manish has two house properties. Both are self occupied. The annual value of:

Options:

A.

Both the house is NIL

B.

One house shall be NIL

C.

No house shall be NIL

D.

Option A with certain condition

Question 91

Manjeet, aged 33 years, is having a policy of Rs. 1 Lac sum assured and is paying premium of Rs. 1,800/- for the last 10 years. The cash surrender value of this policy is at the end of previous year was Rs. 20,000. It is estimated that by this year end, the cash surrender value of this policy would be Rs. 22,900. New term insurance of sum assured of Rs. 80,000 costs Rs. 300/- per annum today as per Manjeet’s age. If rate of interest is 6% then please advise Manjeet if it is better to continue this policy or to discontinue it?

Options:

A.

To continue this policy

B.

To discontinue this policy

C.

More information required

D.

Data insufficient

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Exam Code: GLO_CWM_LVL_1
Exam Name: Chartered Wealth Manager (CWM) Global Examination
Last Update: Apr 26, 2024
Questions: 1057
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