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ICWIM Practice Questions

International Certificate in Wealth & Investment Management

Last Update 4 days ago
Total Questions : 254

Dive into our fully updated and stable ICWIM practice test platform, featuring all the latest CISI level 3 Certificate in Wealth & Investment Management exam questions added this week. Our preparation tool is more than just a CISI study aid; it's a strategic advantage.

Our free CISI level 3 Certificate in Wealth & Investment Management practice questions crafted to reflect the domains and difficulty of the actual exam. The detailed rationales explain the 'why' behind each answer, reinforcing key concepts about ICWIM. Use this test to pinpoint which areas you need to focus your study on.

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Question # 31

Which of the following financial instruments is covered by the insider dealing rules?

Options:

A.  

Soft commodity options

B.  

Interest rate-based contracts for difference

C.  

Metal or oil-based futures

D.  

Energy based spread bets

Discussion 0
Question # 32

How does relief at source normally operate in relation to overseas dividend income?

Options:

A.  

A reduced rate of withholding tax is levied

B.  

A tax rebate is paid in cash

C.  

A credit is applied against a separate tax liability

D.  

A staggering of the tax levy is granted

Discussion 0
Question # 33

Which type of trading system employs market makers?

Options:

A.  

Order-driven

B.  

Quote-driven

C.  

On-exchange

D.  

Over-the-counter

Discussion 0
Question # 34

How does the role of a platform assist the work of an independent financial adviser IFA?

Options:

A.  

By making their services directly available to investors

B.  

Through the provision of discretionary management services

C.  

Through the use of robo-advice

D.  

It allows advisers to analyse a client’s portfolio and take a holistic view

Discussion 0
Question # 35

How do imports and exports affect the Gross Domestic Product (GDP) calculation?

Options:

A.  

Imports and exports are ignored as they only affect Gross National Product (GNP)

B.  

Exports are added and imports are ignored

C.  

Imports are subtracted and exports are added

D.  

Imports are added and exports are subtracted

Discussion 0
Question # 36

Once a company reaches the point known as the minimum efficient scale, the theory of the firm suggests that the company should:

Options:

A.  

Halt its output expansion

B.  

Accelerate its output expansion

C.  

Increase its unit price

D.  

Decrease its unit price

Discussion 0
Question # 37

Which type of property fund seeks to capitalise on opportunities to acquire property from distressed sellers?

Options:

A.  

Opportunistic funds

B.  

Value-added funds

C.  

Fire sale funds

D.  

Repossession funds

Discussion 0
Question # 38

A firm has an existing client who is the head of a foreign state. What type of due diligence should the firm undertake if the client's spouse applies to become a client?

Options:

A.  

Simplified

B.  

Standard

C.  

Enhanced

D.  

Additional

Discussion 0
Question # 39

The arbitrage pricing theory adopts a complex multi-factor approach by:

Options:

A.  

Applying a separate beta to each risk premium

B.  

Making more assumptions than the capital asset pricing model

C.  

Assuming any identified factors are correlated to each other

D.  

Including the psychological factors of investment

Discussion 0
Question # 40

Why might a custom benchmark be required when measuring portfolio performance?

Options:

A.  

It is easier than using a pre-defined benchmark

B.  

So that the portfolio can be measured in absolute terms

C.  

To establish the size of the tracking error

D.  

The portfolio spans several different asset classes

Discussion 0
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