PROMINENT FEATURES OF PASS4CRAM CISI ICWIM PRACTICE TEST QUESTIONS

Prominent Features of Pass4cram CISI ICWIM Practice Test Questions

Prominent Features of Pass4cram CISI ICWIM Practice Test Questions

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Tags: ICWIM Certification Dumps, Pass ICWIM Exam, ICWIM Valid Test Labs, ICWIM Exam Collection Pdf, Current ICWIM Exam Content

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CISI International Certificate in Wealth & Investment Management Sample Questions (Q55-Q60):

NEW QUESTION # 55
An economy with two consecutive quarters of negative growth is considered to be in what phase of an economic cycle?

  • A. Inflationary
  • B. Depression
  • C. Slump
  • D. Recession

Answer: D

Explanation:
* Definition of Recession:
* A recession is defined as two consecutive quarters of negative GDP growth, indicating a sustained economic downturn.
* It reflects reduced consumer spending, higher unemployment, and lower production.
* Elimination of Other Options:
* B (Slump): A slump is a more general term and not a specific phase.
* C (Depression): Refers to prolonged and severe economic downturns.
* D (Inflationary): Opposite of the scenario described.
References:
* ICWIM Module 1: Explanation of economic cycles and recession indicators.


NEW QUESTION # 56
ROCE can be used to establish which of the following?

  • A. Returns generated from capital invested in the business
  • B. The net profitability of the business
  • C. Net profit in relation to the cost of sales
  • D. Impact of borrowing costs on company performance

Answer: A

Explanation:
* ROCE (Return on Capital Employed)
* Measures the efficiency and profitability of a company relative to the capital invested in the business.
* Formula: ROCE=Earnings Before Interest and Tax (EBIT)Capital Employedtext{ROCE} = frac
{text{Earnings Before Interest and Tax (EBIT)}}{text{Capital Employed}} ROCE=Capital EmployedEarnings Before Interest and Tax (EBIT)
* Why the Answer is C
* ROCE specifically focuses on the returns generated from the capital base, providing insight into how effectively the business is using its resources.
* Why Other Options are Incorrect
* A. Net profitability: Refers to net profit margins, not ROCE.
* B. Borrowing costs: ROCE ignores borrowing costs as it considers EBIT.
* D. Net profit in relation to cost of sales: Refers to gross profit margin, not ROCE.
* ICWIM Study Guide, Chapter on Financial Ratios: Covers ROCE and its applications.
* Corporate Finance Texts: Defines ROCE as a key performance metric.
ReferencesThus, the correct answer isC. Returns generated from capital invested in the business.


NEW QUESTION # 57
Which of the following is a money laundering offence?

  • A. Producing
  • B. Avoiding
  • C. Concealing
  • D. Developing

Answer: C

Explanation:
Money laundering is the process of disguising the origins of illegally obtained money to make it appear legitimate. Concealing assets derived from criminal activities is a criminal offence under anti-money laundering (AML) laws.
* Definition: "Concealing" means hiding or disguising the true nature, location, source, ownership, or control of funds derived from criminal activity.
* Legal Framework: The Financial Action Task Force (FATF) and UK Proceeds of Crime Act 2002 (POCA) classify "concealing" as an offence.
* Three Stages of Money Laundering:
* Placement: Introducing illicit funds into the financial system.
* Layering: Concealing the source via multiple transactions.
* Integration: Reintroducing "cleaned" funds into the economy.
# Reference: CISI Wealth & Investment Management (AML), FATF Guidelines, UK POCA 2002.


NEW QUESTION # 58
The ongoing charges figure for a mutual fund should be included in its:

  • A. Terms of business
  • B. Key investor information document
  • C. Key features document
  • D. Prospectus

Answer: B

Explanation:
The ongoing charges figure (OCF) of a mutual fund is included in its Key Investor Information Document (KIID). The KIID provides standardized and essential information about a fund's costs, risks, and performance, ensuring transparency for investors.


NEW QUESTION # 59
Which of the following investments is most suitable for a customer who desires income rather than capital gain and who is risk-averse?

  • A. High coupon short-dated gilts
  • B. Low coupon long-dated gilts
  • C. Convertible preference shares
  • D. Deferred shares

Answer: A

Explanation:
* Why High Coupon Short-Dated Gilts?
* Gilts are UK government bonds and are considered low-risk investments.
* High couponprovides a steady income stream, ideal for income-seeking investors.
* Short-datedgilts reduce interest rate risk, suitable for risk-averse clients.
* Why the Other Options are Incorrect
* A. Low coupon long-dated gilts: Offer lower income and are more sensitive to interest rate changes, increasing risk.
* C. Deferred shares: Generally high-risk and designed for capital growth, not immediate income.
* D. Convertible preference shares: More volatile and often tied to company performance, unsuitable for risk-averse clients.
* ICWIM Study Guide, Chapter on Fixed-Income Securities: Highlights the suitability of gilts for income-seeking, risk-averse investors.
* UK Bond Market Analysis: Confirms the low-risk nature of short-dated gilts.
ReferencesThus, the correct answer isB. High coupon short-dated gilts.


NEW QUESTION # 60
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