CISI ICWIM TEST VALID & ICWIM EXAM TEST

CISI ICWIM Test Valid & ICWIM Exam Test

CISI ICWIM Test Valid & ICWIM Exam Test

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Tags: ICWIM Test Valid, ICWIM Exam Test, ICWIM Exam Flashcards, ICWIM Test Quiz, Free ICWIM Sample

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ICWIM Exam Test | ICWIM Exam Flashcards

The majority of people encounter the issue of finding extraordinary CISI ICWIM exam dumps that can help them prepare for the actual International Certificate in Wealth & Investment Management exam. They strive to locate authentic and up-to-date CISI ICWIM Practice Questions for the CISI ICWIM exam, which is a tough ask.

CISI International Certificate in Wealth & Investment Management Sample Questions (Q69-Q74):

NEW QUESTION # 69
For a key person protection policy, a company will:

  • A. Need to establish an insurable interest
  • B. Seek to be covered for an undefined sum of money
  • C. Be required to pay ever-increasing premiums
  • D. Be insured against staff moving to a competitor

Answer: A

Explanation:
* What is Key Person Protection?
* A policy designed to compensate a company for financial losses incurred if a key employee dies or becomes disabled.
* A prerequisite is that the company must prove aninsurable interestin the key person.
* Why D is Correct
* Insurable interest ensures that the company has a legitimate financial dependency on the key person, a requirement for taking out such a policy.
* Other Options Analyzed
* A. Ever-increasing premiums: Not a feature specific to key person policies.
* B. Moving to a competitor: Irrelevant; this is not an insurable risk.
* C. Undefined sum: Key person policies require a specific sum based on financial calculations.
* ICWIM Textbook, Chapter on Business Insurance: Emphasizes insurable interest in key person policies.
* Insurance Industry Standards: Insurable interest is a fundamental requirement.
References


NEW QUESTION # 70
A fund manager would be keen to improve the alpha of a fund because:

  • A. It has not outperformed the benchmark
  • B. The fund will be easier to manage
  • C. It will become more attractive to risk-averse clients
  • D. As alpha improves, so does beta

Answer: A

Explanation:
Alpha (#) measures a fund's excess return relative to its benchmark. A positive alpha indicates outperformance, while a negative alpha means underperformance.
* Why is Option A Correct?
* A fund manager aims to improve alpha to outperform the benchmark (e.g., S&P 500, FTSE
100).
* If a fund's alpha is negative, it has not beaten the benchmark, indicating poor active management.
* Why Not Other Options?
* B (Easier to manage) # A high-alpha strategy often requires active management, which can be complex.
* C (Improves beta) # Alpha is independent of beta (systematic risk).
* D (Attractive to risk-averse clients) # High alpha does not necessarily mean low risk.
# Reference: CFA Institute (Alpha & Beta), CISI Wealth & Investment Management.


NEW QUESTION # 71
A business may need key person protection because:

  • A. It is a very small business
  • B. Its profits are very seasonal
  • C. The business relies on the input of an individual
  • D. It is to cover a very significant customer

Answer: C

Explanation:
* Key Person Protection:
* This insurance protects a business against financial loss if a critical employee (e.g., founder, CEO) becomes incapacitated or dies.
* It is designed to mitigate reliance on essential individuals whose absence would disrupt operations.
* Elimination of Other Options:
* B: Size of the business is not the determining factor.
* C: Significant customers are protected under other insurance (e.g., credit insurance).
* D: Seasonal profits do not relate to key person risk.
References:
* ICWIM Module 5: Focus on business risk management and insurance needs.


NEW QUESTION # 72
A non-profit, whole-of-life assurance policy, will pay:

  • A. A fixed sum provided death occurs within a predetermined time
  • B. An amount linked to the prevailing rate of inflation
  • C. A fixed sum, chosen at the outset
  • D. A return, linked to the insurance company's units

Answer: C

Explanation:
* What is a Non-Profit, Whole-of-Life Assurance Policy?
* It providesguaranteed coverage for the entire lifeof the insured.
* The policy does not participate in the insurer's profits (hence "non-profit") and pays apre- determined sumupon death.
* Why D is Correct
* The payout isfixed at the policy's inception, offering certainty to beneficiaries.
* Other Options Analyzed
* A. Linked to units: Describes a unit-linked or investment-linked policy.
* B. Predetermined time: Describes term insurance.
* C. Linked to inflation: Describes index-linked policies.
* ICWIM Textbook, Chapter on Insurance Products: Explains non-profit policies and their characteristics.
* Insurance Guidelines: Confirm fixed payouts as a feature of non-profit, whole-of-life assurance.
References


NEW QUESTION # 73
The Financial Action Task Force (FATF) was created to:

  • A. Support international efforts to end safe havens for corrupt funds
  • B. Support countries in developing their financial regulation
  • C. Combat international money laundering and international terrorism
  • D. Improve financial regulation in G7 member states

Answer: C

Explanation:
* Purpose of the FATF:
* Established in 1989, the FATF develops global policies to combat money laundering and terrorist financing.
* It promotes international standards to ensure financial systems are not misused for criminal purposes.
* Elimination of Other Options:
* A: The FATF's mandate is broader than G7 financial regulation.
* B: It provides guidance but does not solely focus on developing financial regulation.
* C: Ending safe havens for corrupt funds is part of its mission but secondary to its primary goal of combating money laundering and terrorism.
References:
* ICWIM Module 5: Focus on global financial regulation and anti-money laundering efforts.
* FATF Mandate (Official Publications): "Standards for combating money laundering, terrorist financing, and proliferation financing."


NEW QUESTION # 74
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