Chartered Wealth Manager® (CWM®) Certification Level 1 Examination
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88 questions in this view
Section C - 4 Marks
Calculate the death claim amount if the assured dies in the 25th year of the policy. Money back policy with SA of Rs. 50,000. Term is 25 years. Survival benefits of 10% each paid at the end of 5th , 10th, 15th, and 20th years. Accrued bonus of Rs. 500 per thousand of SA. Interim bonus of Rs. 75 per 1000 of SA.
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Section C - 4 Marks
Sunil, aged 33 years, has a policy of Rs. 1 lakh sum assured and is paying the premium of Rs. 1,800 for the last 10 years. The cash surrender value of this policy is at the end of the previous year was Rs. 20,000. It is estimated that by this year end, the cash surrender value of this policy would be Rs. 22,900 (including bonus).
There is another term insurance of sum assured of Rs. 80,000 costs Rs. 300 per annum which is available to him. If the rate of interest is 6%, then first calculate the CPT of existing and new policy respectively and then advise Sunil if it is better to continue this policy or to discontinue it?
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Section C - 4 Marks
Mr. Narang retired from service on 01-06-2020. An on that date, his monthly salary was Basic: Rs. 5,000 p.m.; Commission on turnover 5%; Total turnover achieved by him during last 10 months (occurred evenly): Rs.5,00,000. On retirement, after serving for 20 years and 6 months tenure, he received gratuity of Rs. 5,00,000; leave salary of Rs. 3,00,000. He is entitled to pension of Rs. 1,500 p.m. On 01-01-2021, he commuted 60% of his pension and received Rs. 90,000. Compute his gross salary for the AY 2021-22 assuming that he is covered by the Payment of Gratuity Act.
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Section C - 4 Marks
Mr. Nageshwar invested in Morgan Stanley Dynamic Equity Fund which has a Standard Deviation of 15% and in Merill Lynch Top 100 Equity Fund which has a Standard Deviation of 10%. The two funds are perfectly negatively correlated. What weights of both the funds will eliminate all the portfolio risk?
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Section C - 4 Marks
Vijay is 25 years of age and he is getting a salary of Rs. 20,000 per month. He wishes to save 15% of his salary every year at the end of the year. If his salary increases by 8% every year and ROI is 10.75% per annum then what will be his accumulated savings at the age of 57?
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Section C - 4 Marks
An assessee transferred a depreciated asset i.e. building (which was acquired 4 years ago i.e. became long term) on which capital gain of Rs. 35 lacs arise which is invested within 4 months from the date of transfer, in the bonds of NHAI. Which statement out of the following is correct?
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