Newest New ICWIM Test Pattern offer you accurate Reliable Test Objectives | CISI International Certificate in Wealth & Investment Management
Newest New ICWIM Test Pattern offer you accurate Reliable Test Objectives | CISI International Certificate in Wealth & Investment Management
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Tags: New ICWIM Test Pattern, ICWIM Reliable Test Objectives, ICWIM PDF Question, ICWIM Valid Braindumps Sheet, ICWIM Sample Questions Answers
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ICWIM Reliable Test Objectives & ICWIM PDF Question
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CISI International Certificate in Wealth & Investment Management Sample Questions (Q31-Q36):
NEW QUESTION # 31
What is the first action an adviser takes to ensure that their advice is suitable for a client?
- A. Offer the client a range of options
- B. Ensure recommendations are confirmed by a third party
- C. Draw attention to the cancellation period
- 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 # 32
A professional trader was given some price-sensitive, unpublished information in relation to a major grain supplier. As a direct result, they buy futures contracts on grain. Have they committed the offence of insider trading?
- A. No, provided the futures contract is held to expiry
- B. Yes, regardless of profit or loss
- C. Only if they make a profit
- D. No, futures on commodities are not defined as securities under insider trading regulations
Answer: D
Explanation:
Performance attribution analysis evaluates the performance of a portfolio by breaking it into components attributed to specific investment decisions. These include:
* Asset Allocation: The decision on the proportion of the portfolio allocated to different asset classes (e.
g., stocks, bonds).
* Sector Choice: Selecting specific sectors (e.g., technology, healthcare) within asset classes.
* Security Selection: Choosing individual securities within the selected sectors.
Risk analysis, while critical for investment management, is not typically part of standard performance attribution frameworks.
References:
* International Certificate in Wealth & Investment Management: Portfolio performance evaluation section.
* Standard attribution models: Brinson, Hood, and Beebower model widely used in performance attribution.
NEW QUESTION # 33
How does standard deviation provide investors with a measure of historical volatility?
- A. Through the measurement of share price movements compared to the benchmark
- B. Through the measurement of the highs and lows of each asset
- C. By the analysis of historical share price movements
- D. By measuring the degree of fluctuation around the mean
Answer: D
Explanation:
Standard deviation measures the dispersion of returns around the average (mean) return. A higher standard deviation indicates greater historical volatility, showing how much the returns deviate from the expected average.
Formula:
Standard Deviation=#(Ri#R#)2ntext{Standard Deviation} = sqrt{frac{Sigma (R_i - bar{R})