AAFM Chartered Wealth Manager (CWM) Certification Level II Examination - CWM_LEVEL_2무료 덤프문제 풀어보기
Section A (1 Mark)
Aditya's father has given him general power of attorney what does this mean?
Aditya's father has given him general power of attorney what does this mean?
정답: A
Section A (1 Mark)
____________refers to the tendency of people to think of currency in nominal, rather than real terms
____________refers to the tendency of people to think of currency in nominal, rather than real terms
정답: C
Section A (1 Mark)
The use of P/E ratios to select stocks suggests that
The use of P/E ratios to select stocks suggests that
정답: C
Section A (1 Mark)
The disposition effect relates to the fact that:
The disposition effect relates to the fact that:
정답: A
Section A (1 Mark)
Which of the following statements is/are correct with respect to naive diversification?
Which of the following statements is/are correct with respect to naive diversification?
정답: C
Section C (4 Mark)
Consider a three-month futures contract on gold. The fixed charge is Rs.310 per deposit and the variable storage costs are Rs.52.5 per week. Assume that the storage costs are paid at the time of deposit. Assume further that the spot gold price is Rs.15000 per 10 grams and the risk-free rate is 7% per annum. What would the price of three month gold futures if the delivery unit is one kg? Assume that 3 months are equal to 13 weeks.
Consider a three-month futures contract on gold. The fixed charge is Rs.310 per deposit and the variable storage costs are Rs.52.5 per week. Assume that the storage costs are paid at the time of deposit. Assume further that the spot gold price is Rs.15000 per 10 grams and the risk-free rate is 7% per annum. What would the price of three month gold futures if the delivery unit is one kg? Assume that 3 months are equal to 13 weeks.
정답: D
Section A (1 Mark)
Another name for open-end credit is:
Another name for open-end credit is:
정답: D
Section C (4 Mark)
Nifty is presently at 2694. Mr. XYZ expects Nifty to fall. He buys one Nifty ITM Put with a strike price Rs.
2800 at a premium of Rs. 132 and sells one Nifty OTM Put with strike price Rs. 2600 at a premium Rs. 52.
What would be the Net Payoff of the Strategy?
* If Nifty closes at 2359
* If Nifty closes at 3561
Nifty is presently at 2694. Mr. XYZ expects Nifty to fall. He buys one Nifty ITM Put with a strike price Rs.
2800 at a premium of Rs. 132 and sells one Nifty OTM Put with strike price Rs. 2600 at a premium Rs. 52.
What would be the Net Payoff of the Strategy?
* If Nifty closes at 2359
* If Nifty closes at 3561
정답: B
Section B (2 Mark)
As a CWM you are considering the following bond for inclusion in the fixed income portfolio of your client:
What will be the duration of this bond? and What will be the effect of the changes on the duration of the bond if the coupon rate is 6% rather than 9%?
As a CWM you are considering the following bond for inclusion in the fixed income portfolio of your client:
What will be the duration of this bond? and What will be the effect of the changes on the duration of the bond if the coupon rate is 6% rather than 9%?
정답: C
Section B (2 Mark)
Suppose you have some money to invest and you hear about a great stock tip from your neighbor who is known to have a good stock market sense. He recommends you purchase shares in Petrolite, a company that makes a new kind of lighter fluid for charcoal grills.
What is your response to this situation if you exhibit Availability bias?
Suppose you have some money to invest and you hear about a great stock tip from your neighbor who is known to have a good stock market sense. He recommends you purchase shares in Petrolite, a company that makes a new kind of lighter fluid for charcoal grills.
What is your response to this situation if you exhibit Availability bias?
정답: C
Section B (2 Mark)
The Wilson Corporation has the following relationships:
What is Wilson's profit margin and debt ratio?
The Wilson Corporation has the following relationships:
What is Wilson's profit margin and debt ratio?
정답: B
Section B (2 Mark)
Mrs. Sharma, a 40-year-old widow, has an 8-year-old son. Her current savings are not adequate to provide for her son's post graduate studies, however she will be able to save for it by the time he finishes graduation i.e.
when he is 20 years old. Mortality tables indicate that her life expectancy is another 30 years.
Which one of the following is true?
Mrs. Sharma, a 40-year-old widow, has an 8-year-old son. Her current savings are not adequate to provide for her son's post graduate studies, however she will be able to save for it by the time he finishes graduation i.e.
when he is 20 years old. Mortality tables indicate that her life expectancy is another 30 years.
Which one of the following is true?
정답: D
Section C (4 Mark)
Pacific Asia reported net income of Rs770 million in 1993, after interest expenses of Rs320 million. (The corporate tax rate was 36%.) It reported depreciation of Rs960 million in that year, and capital spending was Rs1.2 billion. The firm also had Rs4 billion in debt outstanding on the books, rated AA (carrying a yield to maturity of 8%), trading at par (up from Rs3.8 billion at the end of 1992). The beta of the stock is 1.05, and there were 200 million shares outstanding (trading at Rs60 per share), with a book value of Rs5 billion. Pacific Asia paid 40% of its earnings as dividends and working capital requirements are negligible. (The Risk Free rate is 7%.) Estimate the free cash flow to the firm in 1993.
Pacific Asia reported net income of Rs770 million in 1993, after interest expenses of Rs320 million. (The corporate tax rate was 36%.) It reported depreciation of Rs960 million in that year, and capital spending was Rs1.2 billion. The firm also had Rs4 billion in debt outstanding on the books, rated AA (carrying a yield to maturity of 8%), trading at par (up from Rs3.8 billion at the end of 1992). The beta of the stock is 1.05, and there were 200 million shares outstanding (trading at Rs60 per share), with a book value of Rs5 billion. Pacific Asia paid 40% of its earnings as dividends and working capital requirements are negligible. (The Risk Free rate is 7%.) Estimate the free cash flow to the firm in 1993.
정답: B
Section B (2 Mark)
In a collateralized mortgage obligation (CMO) a tranche:
In a collateralized mortgage obligation (CMO) a tranche:
정답: D
Section A (1 Mark)
In the start-up stage of the industry life cycle
In the start-up stage of the industry life cycle
정답: D