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GLO_CWM_LVL_1 Exam Dumps - Chartered Wealth Manager (CWM) Global Examination

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Question # 17

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

A.

Debtor

B.

Creditor

C.

Lessee

D.

Lessor

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Question # 18

Compute Gross Total income and amount of loss allowed to be carried forward to next year:

A.

Rs. 34,000, Rs. 10,000/-

B.

Rs. 40,000/- Rs. 10,000

C.

Rs. 40,000/-, Nil

D.

Rs. 40,000/- Rs. 10,000

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Question # 19

Fine in case of cheque bouncing can go up to _________.

A.

twice the cheque amount

B.

cheque amount

C.

thrice the cheque amount

D.

Rs. 5 lakh

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Question # 20

Mr Ram aged 53 years has put in 21 years of service in a PSU opts for a voluntary retirement under the company scheme. He has 5 years and 3 months of service left and his last drawn salary is Rs 18,000. He received Rs 10,00,000 as compensation. What would be the taxable part of this receipt?

A.

Rs 5,00,000

B.

Rs 6,00,000

C.

Rs 1,34,000

D.

NIL

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Question # 21

Any income chargeable under the based “Salaries” is exempt from tax under Section 10(6)(viii), if it is received by any non resident individual as remuneration for services rendered in connection with his employment in a foreign ship where his total stay in India does not exceed a period days in that previous year.

A.

90

B.

182

C.

60

D.

120

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Question # 22

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. 17,520

B.

Rs. 32,400

C.

Rs. 18,000

D.

Rs. 24,000

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Question # 23

Derive policy cost per thousand with following data:

A.

30

B.

22.75

C.

12.5

D.

29.85

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Question # 24

Consider the following information:

Which of the following statements is/are true?

A.

Only II

B.

Only III

C.

Only II

D.

None of the above

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