Free Access AAFM.GLO_CWM_LVL_1.v2021-10-25.q359 Practice Test (Page 3)

Question 6

In a "Pure Play" model of wealth management

A.None of the above

B.Wealth Management and investment banking are the core business of the bank

C.Wealth Management is viewed as the core business of the firm

D.Focus is on wide array of products of which private banking is one

Question 7

If the income from a Private Trust originates from a business, then it is normally taxed.

A.In the hands of beneficiary

B.In the hands of settler

C.In the hands of sponsor

D.In the hands of trustees

Question 8

DINK stands for _______

A.Deep interest no kids

B.None of the above

C.Double income no kids

D.Direct in kind funding

Question 9

You bought a stock for Rs. 20 and sold it for Rs. 59.72 after six years. What was the annual rate of return?

A.21%

B.16%

C.20%

D.18%

Question 10

Loss of a closely held company cannot be carried and set off unless on the last day of the previous year in which the loss was incurred and as on the last day of the previous year in which such loss is set off, at least:

A.51% of shares are beneficially held by the same persons

B.49% of the shares are beneficially held by the same persons

C.50% of the shares are beneficially held by the same persons

D.60% of the shares are beneficially held by the same persons

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Question 6

Question 7

Question 8

Question 9

Question 10

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