← Back to exam page

CWM_LEVEL_2 – Chartered Wealth Manager (CWM) Certification Level II Examination

Loading demo links...

Showing 13–15 of 20 questions

Question 13

Section A (1 Mark)

…………………. Is implied in favor of the party creating it

Select an option, then click Submit answer.

  • ○

    Express trust

  • ○

    Resulting trust

  • ○

    Constructive trust

  • ○

    Pre-catory trust


Question 14

Section A (1 Mark)

Wealth Conservation is _____________

Select an option, then click Submit answer.

  • ○

    Ways to maximize tax efficiency of current assets and cash flows while achieving capital growth and preservation goals

  • ○

    Using insurance to ensure wealth is protected

  • ○

    Legally structuring the future disposition of current assets to minimize the benefits to chosen beneficiaries

  • ○

    None of the above


Question 15

Section C (4 Mark)

Read the senario and answer to the question.

Nimita purchased 500 shares of ABC Ltd., a listed company at Rs. 45 per share on Sep. 15,2002. The company offered to buy back its shares on June 15, 2009 which Nimita accepted at a price of Rs. 75 per share on Jul 1, 2009. What is the tax liability in the hands of Nimita for this transaction for Assessment Year 2010-11? Cost inflation indices are

2002-03: 447 and 2009-10 632. (Ignore Education Cess)

Select an option, then click Submit answer.

  • ○

    Rs. 1,140

  • ○

    Rs. 3,000

  • ○

    Rs. 1,500

  • ○

    Nil