AAFM CWM_LEVEL_2 Chartered Wealth Manager (CWM) Certification Level II Examination Online Training

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1. Section B (2 Mark)

Rakhi purchased a piece of land on 25-4-1979 for Rs.80000. This land was sold by him on 23-12-2011 for Rs.1250000. The market value of the land as on 1-4-1981 was Rs.98000. Expenses on transfer were 1.5% of the sale price. Compute the capital gain for the assessment year 2012-13. [CII-12-13: 852,11-12: 785,10-11:711]

2. Section A (1 Mark)

Which of the following is classified as passive income in US?

3. Section B (2 Mark)

Eric, who has lived in the Netherlands for the whole of his life, arrives in the UK on 1 June 2011 and remains in the UK until 31 December 2011, when he returns permanently to the Netherlands.

His UK residence status for 2011-12 is:

4. Section A (1 Mark)

The __________ is NOT a market anomaly.

5. Section A (1 Mark)

NSSO stands for ____________

6. Section A (1 Mark)

When markets are in equilibrium, the CML will be upward sloping

7. Section B (2 Mark)

Lucy purchased a rental house a few years ago for $100,000. Total depreciation to date is $35,000. In the current year, she sells the house for $155,000 and pays $10,000 selling expenses. Calculate Lucy's gain on the sale.

8. Section C (4 Mark)

Read the senario and answer to the question.

Compute Expanded Liquidity Ratio before his retirement as (beginning of October 2007) and find out for how many months of expenses, his liquid assets are sufficient enough to cover?

9. Section C (4 Mark)

Zoya Ltd has the following Balance sheet for FY 2005-2006:

The Total Sales for the year was Rs. 6,00,000.

The company president believes the company carries excess inventory. Accordingly he wants the inventory turnover ratio to be 8x and would use the freed up cash to reduce current liabilities.

If the company follows the president’s recommendation and sales remain the same, the new quick ratio would be:

10. Section A (1 Mark)

A company making an IPO can avail which of the following option?


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