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Chartered Wealth Manager (CWM) Global Examination Questions and Answers

Question 13

A maximum of _____% of the issue would be allotted to one single QIB

Question 14

In straight line method

Depreciation value per annum is constant over the useful life

Depreciation value varies with the value of the asset every year

Depreciation is at a fixed percentage of the value of the asset

None of the above

Question 15

What is the exemption criteria U/S 10(10) (ii) of the IT Act, 1961 for any gratuity received by a seasonal employee?

Exemption limit is least of there:

(i) 7 day’s wages (calculated as 26 working days in a month) based on last drawn salary for every number of seasons worked,

(ii) Rs. 3,50,000/-,

(iii) Actual gratuity received

Exemption limit is least of three:

(i) 7 day’s wages based on last drawn salary for every number of seasons worked,

(ii) Rs. 3,00,000/-,

(iii) Actual gratuity received

Exemption limit is least of three:

(i) 15 day’s wages based on last drawn salary for every completed year

(ii) Rs. 3,50,000/-,

(iii) Actual gratuity received

Exemption limit is least of three:

(i) 15 day’s wages based on last drawn salary for every completed year

(ii) Rs. 4,00,000/-,

(iii) Actual gratuity received

Question 16

Which of the following statement is true in relation to life expectancy?

I,II and IV

I ,II and III

I,III and IV

All of these