Free AAFM GLO_CWM_LVL_1 Exam Questions

Become AAFM Certified with updated GLO_CWM_LVL_1 exam questions and correct answers

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Total 1060 Questions | Updated On: Oct 27, 2021

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Question 1

A doctor has taken a professional indemnity Policy on 01/06/2003 and has been continuously renewing it. In August, 2006 he operated on an infant child. But that operation failed. The parent of child filed a law suit against doctor in Sept, 2006. Which of the following statement is true in respect of the claim?

A : the Professional indemnity policy was taken on 01/06/2003 and it has been regularly renewed since then, and was in force during the occurrence of claim, the doctor will be reimbursed under the Policy.

B : the Professional indemnity policy was taken on 01/06/2003 and claim has arose on August, 2006, so the doctor will not be reimbursed under the Policy.

C : the operation has failed, so the doctor has to pay the compensation.

D : profession indemnity policy does not include claims under failure of operation.

Answer: A

Question 2

The Portfolio consists of two securities, X and Y in the ratio of 70:30. Given that

and covariance between them is 16%, what is the portfolio risk?

A : 13.77%

B : 8.04%

C : l

D : 25%

Answer: B

Question 3

"When a customer opts for a safe deposit locker, the bank becomes a _______."

A : btor

B : editor

C : ee

D : or

Answer: D

Question 4

Mahesh has invested Rs. 72,000/- @ 5% p.a. in a bank deposit. After 7 years ROI changes 5% p.a. computed half yearly. After further period of 3 years rate again changes to 6% p.a. compounded quarterly. What will he get after 15 years of commencement?

A : . 1,48,251/-

B : . 1,58,240/-

C : . 1,40,000/-

D : . 1,55,000/-

Answer: B

Question 5

The income received by the approved superannuation fund on the investments made by the fund is

A : empt from income tax

B : xed as the concession rate of 10% of the income

C : x at the hands of employees concerned based on the share of each employee

D : xed under Capital Gains Tax depending upon the nature of investment

Answer: A

Page: 1 / 212

Total 1060 Questions | Updated On: Oct 27, 2021

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