Free AAFM CWM_LEVEL_1 Exam Questions

Become AAFM Certified with updated CWM_LEVEL_1 exam questions and correct answers

Page: 1 / 28

Total 138 Questions | Updated On: Aug 20, 2026

Add To Cart

Question 1

What is the quantum of deduction allowed u/s 80U?

A : . 40,000

B : . 75,000

C : . 60,000

D : . 55,000

Answer: D

Question 2

The principle of ensures that an insured does not profit by insuring with multiple insurers

A : brogation

B : ntribution

C : urance

D : demnity

Answer: B

Question 3

What is the amount of deduction in relation to Tea, Coffee and Rubber development account u/s 33AB of Income Tax Act?

A : 20% of profits of such business

B : 40% of profits of such business

C : 60% of profits of such business

D : 100% of profits of such business

Answer: B

Question 4

According to the dividend-growth model, the valuation of common stock depends on:

A : and II

B : and Ill

C : and Ill

D : l of the above

Answer: A

Question 5

Deductions under section 54 are allowed from

A : oss Total Income

B : ng Term Capital Gain

C : oss total income exclusive of long-term capital gain as well as short-term capital gain

D : t Total Income

Answer: C

Page: 1 / 28

Total 138 Questions | Updated On: Aug 20, 2026

Add To Cart