Free AAFM CWM_LEVEL_1 Exam Questions

Become AAFM Certified with updated CWM_LEVEL_1 exam questions and correct answers

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Total 138 Questions | Updated On: Dec 06, 2021

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Question 1

For claiming exemption u/s 546, the assessee shall acquire the new asset within

A : 2 years from the date of transfer

B : 3 years from the date of transfer

C : year before or 2 years after the date of transfer

D : year before or 3 years from the date of transfer

Answer: C

Question 2

Statement I: Financial risk is associated with a firm's sources of financing.

Statement II: The use of financial leverage is the source of financial risk

A : atement I is correct.

B : atement II is correct

C : th statements are correct.

D : th statements are incorrect.

Answer: B

Question 3

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

Question 4

The current dividend on an equity share of MAGADH Limited is Rs. 8.00 on earnings per share of Rs. 30.00. Assume that the growth rate of 15 per cent will decline linearly over a five year period and then stabilize at 10 per cent. What is the intrinsic value of MAGADH 's share if the investors' required rate of return is 15 per cent?

A : . 196/-

B : . 183/-

C : . 116/-

D : . 269/-

Answer: D

Question 5

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

Page: 1 / 28

Total 138 Questions | Updated On: Dec 06, 2021

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