Certified ICWIM Questions - ICWIM Learning Mode
Certified ICWIM Questions - ICWIM Learning Mode
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Tags: Certified ICWIM Questions, ICWIM Learning Mode, Practical ICWIM Information, ICWIM Exam Questions, ICWIM Certification Test Answers
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ICWIM Learning Mode - Practical ICWIM Information
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CISI International Certificate in Wealth & Investment Management Sample Questions (Q155-Q160):
NEW QUESTION # 155
Treasury bills are normally issued with a minimum maturity of:
- A. 3 years
- B. 1 year
- C. 3 months
- D. 1 month
Answer: C
Explanation:
* Treasury Bills Defined
* Treasury bills (T-bills) are short-term government debt securities issued at a discount and redeemed at face value at maturity.
* They are typically issued with maturities of3 months (most common), 6 months, and 1 year.
* Why the Answer is B
* While T-bills can have shorter or longer maturities,3 monthsis the standard minimum maturity for most markets, including the UK and US.
* ICWIM Study Guide, Chapter on Fixed Income Securities: Covers treasury bill characteristics.
* Debt Market Literature: Confirms typical T-bill maturities.
References
NEW QUESTION # 156
If two sets of data have a correlation coefficient of 1.0, they possess:
- A. Perfect positive correlation
- B. No correlation
- C. Perfect negative correlation
- D. Weak correlation
Answer: A
Explanation:
* Correlation Coefficient of 1.0:
* A correlation coefficient measures the strength and direction of the relationship between two datasets.
* A value of1.0indicates a perfect positive correlation, meaning the two sets of data move in the same direction proportionally.
* Elimination of Other Options:
* A: A value of 0 indicates no correlation.
* B: Weak correlation would be closer to 0.
* C: Perfect negative correlation has a value of -1.
References:
* ICWIM Module 3: Concepts of statistical measures, including correlation.
NEW QUESTION # 157
Your client estimates that they will require £40,000 of income annually to live off when they retire. Personal plus state pension will provide £35,000. They wish to retire in 20 years' time. It is estimated that they can earn
3% per annum and inflation has been forecast at 2% over the next 20 years. Interest rates are currently 1.5%.
Allowing for inflation, what lump sum would they need to accrue to supplement their pension?
- A. £165,105
- B. £331,631
- C. £247,658
- D. £495,316
Answer: B
Explanation:
* Determine the shortfall in income:
* Desired income: £40,000
* Pension provided: £35,000
* Annual shortfall: £40,000 - £35,000 = £5,000
* Adjust for inflation over 20 years:Future value = Present Value × (1 + Inflation Rate)