AAFM CWM_LEVEL_2 Exam - Topic 1 Question 63 Discussion

Actual exam question for AAFM's CWM_LEVEL_2 exam

Question #: 63
Topic #: 1

Section C (4 Mark)

Read the senario and answer to the question.

Pallavi's marriage is expected by the end of December, 2010 with an expected present cost of Rs. 24,00,000. He is expected to realize from his Tatanagar Flat 18, 00,000 by that time. Calculate what additional amount is required for his daughter's marriage. With 8% pa. risk free rate compounding monthly what amount he has to save per month (BEGIN) in a debt fund?

ARs. 2,27,367 Rs. 7,663

BRs. 3,83,365 Rs. 9,815

CRs. 4,12,245 Rs. 8,615

DRs. 3,45,458 Rs. 11,363

Show Suggested Answer

Suggested Answer: B

by Jess at Aug 09, 2023, 10:43 AM

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Pearly

5 months ago

Totally agree, monthly savings will be tough with that amount!

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Linwood

5 months ago

Wait, how can he save that much in just a few months? Seems impossible!

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Willard

6 months ago

I think option B looks right.

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Simona

6 months ago

So he needs an extra Rs. 6,00,000 for the wedding!

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Elvis

6 months ago

The total cost is Rs. 24,00,000, and he’ll get Rs. 18,00,000 from the flat.

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Jesusita

6 months ago

I feel like I should be able to solve this, but I'm a bit hazy on the monthly savings calculation part. I hope I remember the right formula!

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Iola

6 months ago

I practiced a question like this with a different interest rate, and I got confused about whether to use the future value or present value formula.

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Leota

7 months ago

I think we need to find the total amount needed first, which is Rs. 24,00,000 minus Rs. 18,00,000 from the flat. That should help us figure out the additional amount.

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Elbert

7 months ago

I remember calculating future costs in similar questions, but I'm not sure how to factor in the compounding monthly.

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Layla

7 months ago

This seems like a tricky question. I'll need to think carefully about the factors that can demotivate testers.

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Otis

7 months ago

I'm a little confused by the wording of this question. The options seem to overlap in meaning, so I'll have to read them closely and try to distinguish the nuances between them. Hopefully I can narrow it down to the best answer.

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Willard

7 months ago

I'm pretty confident that compiled Java jar packages are definitely resources we need to upload.

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Onita

7 months ago

I think the key here is to use a combination of application layer and network layer testing tools. Option C or D alone might not be enough to thoroughly assess the cloud-based app's vulnerabilities.

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Isaiah

12 months ago

Hey, Pallavi's getting married, but the real question is: will the marriage last as long as the debt fund investment? Just a thought!

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Rory

10 months ago

D) Rs. 3,45,458 Rs. 11,363

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Glendora

10 months ago

I hope Pallavi's marriage lasts longer than the debt fund investment!

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Eden

10 months ago

A) Rs. 2,27,367 Rs. 7,663

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Ryan

12 months ago

Hmm, let me see. Ah, I think I've got it! The additional amount required is Rs. 6,00,000, and at 8% p.a. compounding monthly, the monthly savings needed is Rs. 8,615. Looks like option C is the winner!

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William

12 months ago

Whoa, this is like a finance riddle! I bet the answer is option C, it just looks right to me. But I should probably double-check my work just to be sure.

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Tresa

10 months ago

User 3: I'm not sure, but I'll go with option C as well. It seems like the most logical answer.

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Azzie

11 months ago

User 2: Yeah, I agree. Let's double-check our calculations just to be safe.

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Rosendo

11 months ago

User 3: Good idea, let's go over the numbers one more time just to be safe.

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Ben

11 months ago

User 2: Yeah, I agree. But let's make sure we double-check our calculations before finalizing our answer.

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Ahmed

11 months ago

User 1: I think the answer is option C too, it seems like the most reasonable choice.

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Kami

12 months ago

User 1: I think the answer is option C too, it seems like the most reasonable choice.

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Gail

12 months ago

Okay, I think I got this. The expected cost is Rs. 24,00,000, and the realized amount from the flat is Rs. 18,00,000. So the additional amount required is Rs. 6,00,000. Now to find the monthly savings at 8% p.a. compounding monthly, I just need to use the PV formula.

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Willodean

1 year ago

Hmm, this is tricky. I need to calculate the additional amount required, and then figure out the monthly savings needed to cover it. Let me think this through carefully.

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