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: Jun 17, 2026

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Question 1

Under Car loan overdraft scheme, borrower will not be eligible for:

A : eque book

B : M cum debit card

C : edit card

D : ternet banking facility

Answer: C

Question 2

Mr. Syelwester Andrews,a Resident Indian, has income derived from rubber plantation in Malaysia.It shall be

treated as:

A : ricultural income and hence exempt

B : Agricultural income but taxable under the head Income from Other Sources

C : empt as earned outside India

D : xable in Malaysia

Answer: B

Question 3

Indicate whether the following statement is True or False. Money launderers often use professional intermediaries to layer their illegal funds. These professional intermediaries include lawyers, company formation agents, accountants and other professionals working in non-financial institutions. A banker is not generally regarded as a professional intermediary because he works in a financial institution.

A : UE

B : LSE

Answer: B

Question 4

Mr. Dinesh is aged 35 years and has a wife aged 30 years old and two small children. His parents are also dependent on him and has a house against which he has taken a housing loan. What is the most important insurance cover required by him at this stage?

A : come Protection Cover and Life Insurance Cover

B : fe Insurance Cover and Mortgage Cover

C : cident policy Cover and Critical Illness cover

D : ild education Cover

Answer: B

Question 5

A kind of lease in business organisations wherein the lesssor and lessee agree to a payment schedule (normally some months) have no payment and penalty

A : b-lease

B : e-Paid Purchase Lease

C : ip Lease

D : ue Lease

Answer: C

Page: 1 / 212

Total 1060 Questions | Updated On: Jun 17, 2026

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