Free Access AAFM.GLO_CWM_LVL_1.v2022-03-02.q349 Practice Test (Page 12)

Question 51

Encashment of leave during service tenure is

A.Tax free

B.Tax free up to 50% of the notified amount

C.Taxable

D.Taxable only if more than the notified exemption

Question 52

Aakash a trustee for Mahesh allows the trust to be executed solely by his co-trustee, Suresh. Suresh misapplies the trust property. Is Aakash personally answerable to the loss?

A.Yes

B.No

Question 53

A type of trust in which assets are passed down to the grantors grandchildren not the grantors children

A.Express trust

B.Dynasty trust

C.Private. trust

D.Discretionary trust

Question 54

The markets for funds traded in currencies other than the currency of the trading country are referred to as

A.international financial centres.

B.the world market.

C.off-shore banking centres.

D.Eurocurrency markets.

Question 55

Vehicle finance is made cheaper through _________.

A.Higher engine capacity

B.Special arrangement with manufacturer

C.Better insurance cover

D.Navigation system in the car

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