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GLO_CWM_LVL_1 Exam Questions Tutorials

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Total 1057 questions

Chartered Wealth Manager (CWM) Global Examination Questions and Answers

Question 129

Suresh a 30 years old person has joined ABHG on 1/07/2006. His monthly salary (net salary) after deduction is payable Rs. 20500.His monthly expenses details are as follows:

Assume that Suresh has taken his flat on rent from 01/07/2006. On 01 /07/2006 he has cash in hand Rs. 2450. What will be his cash in hand on 31/03/2007.

Options:

A.

Rs. 72150/-

B.

Rs. 83150/

C.

Rs. 94070/-

D.

Rs. None of the above

Question 130

A bond with a face value of Rs. 1000, returns Rs. 80 in year 1, Rs. 80 in year 2 and Rs. 1080 in year 3. What is the duration of the bond in years?

Options:

A.

2.6

B.

2.8

C.

2.4

D.

2.2

Question 131

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:

Options:

A.

Rs. 45,000

B.

Nil

C.

Rs. 25,000

D.

Rs. 35,000

Question 132

The income of any university or other educational institution existing solely for educational purposes and not for the purposes of profit is exempt under clause (iiiad) of Section 10(23C) if the aggregate annual receipts’ of such univer­sity or educational institution do not exceed.

Options:

A.

Rs.100 crores,

B.

Rs.1 crore,

C.

Rs. 10 crores,

D.

Rs. 10 lakhs

Page: 33 / 40
Total 1057 questions