[2022] New GLO_CWM_LVL_1 exam dumps Use Updated AAFM Exam
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NEW QUESTION 17
Calculate the premium for a policy of Rs. 10 lacs, if on an average out of 50000 persons aged 39,572 people die every year
- A. 0
- B. 1
- C. 2
- D. 3
Answer: C
NEW QUESTION 18
Mr. Chopra runs a Garment Factory, he is very concerned about his retirement and wants you to help him out in planning for it. His Current annual expenses are Rs. 12,00,000 which would be rising at an annual rate of
8% pre- retirement and 2% post retirement. His current age is 50 years and he wants to work till the age of 65.
The expected life expectancy in his family is 75 years. Calculate the monthly contribution he must make till his retirement if the pre- retirement returns are 12% p.a. compounded monthly and post-retirement returns are
8% pea compounded annually.?
- A. 0
- B. 1
- C. 2
- D. 3
Answer: D
NEW QUESTION 19
Pranoy is entitled to a basic salary of Rs. 5,000 p.m. and dearness allowance of Rs. 1,000 per month, 40% of which forms the part of the retirement benefits. He is also entitled to HRA of Rs. 2,000 p.m. He actually pays Rs. 2,000 p.m. as rent for a house in Delhi. Compute the taxable HRA.
- A. Rs. 32,400
- B. Rs. 17,520
- C. Rs. 24,000
- D. Rs. 18,000
Answer: B
NEW QUESTION 20
A businessman sold Rs. 85 lakh value of unlisted securities on 20th December 2012. These shares were acquired in April 2008 for Rs. 20 lakh. He invested Rs. 40 lakh from these proceeds in February 2013 in his first residential house to avail benefit under Section 54F of the Income-tax Act, 1961. What approximate amount of bonds specified under Section 54EC should he purchase and by what date so as to make his capital gains liability almost "Nil" towards these transactions? Cost inflation index for FY 2008-09: 582, 2012-13:
852.
- A. Rs. 29.50 lakh, 19th June 2013
- B. Rs. 15.73 lakh, 30th July 2013
- C. Rs. 26.23 lakh, 19th June 2013
- D. Rs. 27.01 lakh, 30th July 2013
Answer: A
NEW QUESTION 21
Which of the following statement is not true?
- A. While the primary market deals in new securities, the stock market is a market for old securities
- B. The price of new issues are influenced, to a market extent, by the price movements in the stock market
- C. None of the above
- D. Organization, underwriting and distribution are three services provided by the new issue market.
Answer: C
NEW QUESTION 22
Mr.Dinesh is transferred to Delhi and is paid a shifting allowance of Rs.20000 by his employers out of which he spends Rs.18000 for shifting his family and personal effects. Which of the following is true?
- A. Rs.18,000 is exempt as a casual receipt
- B. Rs.18,000 is exempt from tax under Section 10(14)
- C. The whole of Rs.20,000 is exempt under section 10(14)
- D. The whole of Rs.20,000 is exempt as a casual receipt
Answer: B
NEW QUESTION 23
Which of the following statements in reference to REPO Rate is/are correct?
- A. II,III and IV
- B. I and II
- C. I, II and III
- D. I, III and IV
Answer: B
NEW QUESTION 24
Ranbir deposits Rs. 80000 as a lump sum amount in a immediate annuity. He will receive annuity on a monthly basis for next one year. Determine the monthly amount he is entitled to receive. The rate of interest is
15%
- A. Rs 7321
- B. Rs 7425
- C. Rs 7221
- D. Rs 7122
Answer: C
NEW QUESTION 25
NSSO stands for ____________
- A. National Security Space Office
- B. National Sample Survey Organization
- C. None of the above
- D. National Shared Services Organization
Answer: B
NEW QUESTION 26
Which of the following is a type of Demand Deposit?
- A. FCNR account
- B. Fixed Deposit
- C. Recurring Deposit
- D. Savings Account
Answer: D
NEW QUESTION 27
BIS handles each of the following, except ________."
- A. Credit rating of global banks.
- B. Forum to promote discussion and policy analysis
- C. Centre for economic and monetary research
- D. Prime counter-party for central banks
Answer: A
NEW QUESTION 28
Which of the following are not the sources of Law?
- A. a b c and d
- B. a, b and c
- C. None of the above
- D. b, c and d
Answer: C
NEW QUESTION 29
Mr. D'suza is a operations manager in a private company college in Hyderabad. During the previous year
2011-12, he gets the following emoluments:
He gets Rs. 17,500 as reimbursement from his employer in respect of medical expenditure incurred on treatment of his wife in a private clinic. Besides, he gets Rs.12, 300 as reimbursement from the employer in respect of books and journals purchased by him in discharging his official work.
He contributes 11% of his salary to statutory provident fund to which a matching contribution is made by the employer. During the year, he spends Rs.17, 000 for maintaining a car for going to the college. Determine his net income under the head salaries.
- A. Rs 375700
- B. Rs 395300
- C. Rs 418900
- D. Rs 415300
Answer: A
NEW QUESTION 30
R purchased a house property for Rs. 26,000 on 10-5-1962. He gets the first floor of the house constructed in
1967-68 by spending Rs. 40,000. He died on 12-9-1978. The property is transferred to Mrs. R by his will. Mrs.
R spends Rs. 30,000 and Rs. 26,700 during 1979-80 and 1985-86 respectively for renewals/reconstruction of the property. Mrs. R sells the house property for Rs. 11,50,000 on 15-3-2007, brokerage paid by Mrs. R is Rs.
11,500. The fair market value of the house on 1-4-1981 was Rs. 1,60,000. Find out the amount of capital gain chargeable to tax for the assessment year 2007-08.
- A. 0
- B. 1
- C. 2
- D. 3
Answer: B
NEW QUESTION 31
A good wealth management plan must include an analysis of all of the following EXCEPT
- A. Where you want to be
- B. How to reach your goals
- C. Where you are now
- D. Why you failed previously
Answer: D
NEW QUESTION 32
Intermediaries who are agents of investors and match buyers with sellers of securities are called
- A. investment bankers.
- B. dealers.
- C. traders.
- D. brokers.
Answer: D
NEW QUESTION 33
........................is a gift in the form of a single transfer to the same person of several things of which one is and the others are not burdened by an obligation, the done can take nothing by the gift unless he accepts if fully.
- A. English gift
- B. Simple gift
- C. Onerous gift
- D. Universal gift
Answer: C
NEW QUESTION 34
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