AAFM CWM_LEVEL_2 Chartered Wealth Manager (CWM) Certification Level II Examination Online Training
AAFM CWM_LEVEL_2 Online Training
The questions for CWM_LEVEL_2 were last updated at Oct 19,2025.
- Exam Code: CWM_LEVEL_2
- Exam Name: Chartered Wealth Manager (CWM) Certification Level II Examination
- Certification Provider: AAFM
- Latest update: Oct 19,2025
Section C (4 Mark)
Read the senario and answer to the question.
What would be the taxable amount on gratuity received by Jogen, if he would retired from an organization where employees are not covered under Gratuity Act?
- A . Rs. 75,000
- B . Rs. 3,50,000
- C . Rs. Nil
- D . Rs. 69,300
Section B (2 Mark)
The current market price of a share of CAT stock is Rs76. If a call option on this stock has a strike price of Rs76, the call
- A . Is out of the money.
- B . Is in the money.
- C . Is at the money.
- D . A and C.
Section B (2 Mark)
A project should be considered if the Profitability Index is
- A . Less than 1
- B . More than 1
- C . More than to 0.5
- D . None of the above
Section B (2 Mark)
An assessee was allowed deduction of unrealized rent to the extent of Rs. 40,000 in the past although the total unrealized rent was Rs. 60,000. He is able to recover from the tenant Rs.45,000 during the previous year on account of such unrealized rent.
He shall be liable to tax to the extent of:
- A . Rs. 45,000
- B . Nil
- C . Rs. 25,000
- D . Rs. 35,000
Section A (1 Mark)
Which of the following is an investment analysis approach to determine real estate values?
- A . The cost approach
- B . The net present value approach
- C . The comparative sales approach
- D . The income approach
Section B (2 Mark)
What is the size of the final unequal payment of a loan for Rs15 600 and it has monthly payments of Rs500? The interest rate is 9.92% compounded quarterly.
- A . Rs. 383.11
- B . Rs. 380.21
- C . Rs. 388.97
- D . Rs. 417.27
Section A (1 Mark)
The first step of portfolio management is:
- A . To assess market conditions.
- B . To determine objectives, constraints and preferences.
- C . To develop strategies and implement them.
- D . To adjust the portfolio as necessary.
Section C (4 Mark)
Nifty is at 3200. Mr. XYZ expects very little movement in Nifty. He sells 2 ATM Nifty Call Options with a strike price of Rs. 3200 at a premium of Rs. 97.90 each, buys 1 ITM Nifty Call Option with a strike price of Rs. 3100 at a premium of Rs. 141.55 and buys 1 OTM Nifty Call Option with a strike price of Rs. 3300 at a premium of Rs. 64.
What would be the Net Payoff of the Strategy?
• If Nifty closes at 3200
• If Nifty closes at 4212
- A . -87.75 and 57.50
- B . -75.25 and -45.65
- C . 90.25 and -9.75
- D . -15.45and 95.75
Section A (1 Mark)
A well-diversified portfolio is defined as
- A . One that is diversified over a large enough number of securities that the nonsystematic variance is essentially zero.
- B . One that contains securities from at least three different industry sectors.
- C . A portfolio whose factor beta equals 1.0.
- D . A portfolio that is equally weighted.
Section B (2 Mark)
In US, all states except _________________ require their state, via state constitutional or statutory requirements, to balance their budget.
- A . Vermont
- B . Texas
- C . All states require a balanced budget
- D . North Carolina
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