CISI ICWIM LATEST MOCK TEST - ICWIM FREE BRAIN DUMPS

CISI ICWIM Latest Mock Test - ICWIM Free Brain Dumps

CISI ICWIM Latest Mock Test - ICWIM Free Brain Dumps

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Tags: ICWIM Latest Mock Test, ICWIM Free Brain Dumps, Test ICWIM Simulator, ICWIM Test Cram Pdf, ICWIM Practice Exam Online

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CISI ICWIM Free Brain Dumps | Test ICWIM Simulator

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CISI International Certificate in Wealth & Investment Management Sample Questions (Q41-Q46):

NEW QUESTION # 41
What is the first action an adviser takes to ensure that their advice is suitable for a client?

  • A. Ensure recommendations are confirmed by a third party
  • B. Draw attention to the cancellation period
  • C. Offer the client a range of options
  • D. Gather sufficient information from the client

Answer: D

Explanation:
* Suitability of Advice
* The first step in providing suitable advice is understanding the client's financial situation, goals, and risk tolerance.
* This is achieved bygathering sufficient informationthrough a fact-find process.
* Why the Answer is C
* Without detailed client information, advice cannot be tailored to individual circumstances, leading to regulatory non-compliance and potential mis-selling.
* Why Other Options are Incorrect
* A. Offer options: Comes later after understanding the client's needs.
* B. Cancellation period: A compliance requirement but irrelevant to suitability.
* D. Third-party confirmation: Not a standard part of the advice process.
* ICWIM Study Guide, Chapter on Client Engagement: Emphasizes information gathering as the first step.
* FCA Suitability Guidelines: Highlights the importance of a thorough fact-find.
References


NEW QUESTION # 42
An investor would regard a company's interest cover ratio as significant as it provides:

  • A. An indication of what interest rate the company is paying
  • B. A summary of how much liquid cash an organisation has for funding dividend payments
  • C. A breakdown of how much debt a company has in relation to equity
  • D. An indication of the extent to which the company can service its debts

Answer: D

Explanation:
* Interest Cover Ratio Defined
* This ratio measures a company's ability to meet its interest obligations with its operating earnings.
* Formula: Interest Cover Ratio=Earnings Before Interest and Taxes (EBIT)Interest Expensetext
{Interest Cover Ratio} = frac{text{Earnings Before Interest and Taxes (EBIT)}}{text{Interest Expense}}Interest Cover Ratio=Interest ExpenseEarnings Before Interest and Taxes (EBIT)
* Why the Answer is A
* A high interest cover ratio indicates strong debt-servicing capacity, which is crucial for investors assessing financial stability.
* Why Other Options are Incorrect
* B. Interest rate: The ratio does not indicate the interest rate being paid.
* C. Debt-to-equity: Refers to leverage, not interest coverage.
* D. Liquid cash for dividends: Unrelated to interest coverage.
* ICWIM Study Guide, Chapter on Financial Ratios: Covers interest cover as a debt-servicing measure.
* Corporate Finance Principles: Discusses its importance for creditworthiness.
References


NEW QUESTION # 43
Once an offshore foundation is established, who will normally be responsible for making ongoing decisions regarding the operational use of the foundation's assets?

  • A. The trustees
  • B. The board of directors
  • C. The council
  • D. The beneficiaries

Answer: C

Explanation:
# Reference: Offshore Financial Centres (OFCs), CISI Wealth & Investment Management.


NEW QUESTION # 44
Why should standard deviation, as a measure of volatility, not be used on its own?

  • A. Because it cannot be used to compare all assets
  • B. Because the data is difficult to interpret
  • C. The data is historic
  • D. Standard deviation only works for small fluctuations

Answer: C

Explanation:
Standard deviation is a widely used measure of volatility, but it has a significant limitation: it is based on past data, which may not reflect future risks.
* Key Limitations of Standard Deviation:
* It only measures historical price fluctuations, not future risks.
* It assumes normal distribution, which may not hold in financial markets.
* It does not distinguish between upside and downside volatility.
* Alternative Measures of Risk:
* Value at Risk (VaR) - Estimates potential losses under extreme market conditions.
* Beta - Measures risk relative to the overall market.
* Sharpe Ratio - Assesses risk-adjusted returns.
# Reference: CFA Institute (Risk Metrics), CISI Wealth & Investment Management.


NEW QUESTION # 45
Which one of the following would cause a shift to the right in aggregate demand?

  • A. A decrease in expected inflation
  • B. A decrease in consumer confidence
  • C. Depreciation of the pound against other currencies
  • D. An increase in expected inflation

Answer: C

Explanation:
* Factors Shifting Aggregate Demand (AD) Rightward:
* Depreciation of the pound makes UK exports cheaper and imports more expensive, increasing net exports.
* Higher net exports increase aggregate demand, shifting the curve to the right.
* Elimination of Other Options:
* A: Lower consumer confidence decreases consumption, shifting AD leftward.
* B: Increased expected inflation may reduce real spending.
* D: Lower expected inflation discourages spending.
References:
* ICWIM Module 1: Macroeconomic factors influencing aggregate demand.


NEW QUESTION # 46
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