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AAFM CWM_LEVEL_2 Exam - Topic 6 Question 35 Discussion

Section C (4 Mark)Read the senario and answer to the question.Sajan and Jennifer want to accumulate funds for their vacation expenses as per their determined goal. They want to invest a fixed amount immediately from the Bonus amount he has received, and then in the beginning of every financial year till April, 2020 in a separate scheme of an Equity Mutual Fund. He would withdraw the required amount annually as adjusted for inflation from the Scheme from April, 2021 till April, 2036 for undertaking vacation trips. What approximate amount should be invested every year to achieve this goal?
B) Rs. 1.86 lakh
A) Rs. 2.08 lakh
C) Rs. 1.94 lakh
D) Rs. 1.79 lakh

AAFM CWM_LEVEL_2 Exam - Topic 6 Question 35 Discussion

Actual exam question for AAFM's CWM_LEVEL_2 exam
Question #: 35
Topic #: 6
[All CWM_LEVEL_2 Questions]

Section C (4 Mark)

Read the senario and answer to the question.

Sajan and Jennifer want to accumulate funds for their vacation expenses as per their determined goal. They want to invest a fixed amount immediately from the Bonus amount he has received, and then in the beginning of every financial year till April, 2020 in a separate scheme of an Equity Mutual Fund. He would withdraw the required amount annually as adjusted for inflation from the Scheme from April, 2021 till April, 2036 for undertaking vacation trips. What approximate amount should be invested every year to achieve this goal?

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Suggested Answer: B

by Ma at May 10, 2022, 02:38 AM

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Hershel
9 months ago
Totally agree with Rs. 1.86 lakh, that seems reasonable!
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Pauline
9 months ago
Wow, I didn't realize it would be that much!
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Johnna
9 months ago
Wait, how can they be sure of the returns?
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Dick
10 months ago
I think Rs. 1.94 lakh sounds about right!
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Madalyn
10 months ago
Looks like they need to invest around Rs. 2 lakh annually.
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Ligia
10 months ago
}
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Shantell
10 months ago
]
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Jenelle
10 months ago
"Candidate 4", "text": "Earlier problems used PMT = target / annuity factor; inflation and returns will complicate the factors."}
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Jenelle
10 months ago
"Candidate 3", "text": "This resembles practice questions on saving for a goal with withdrawals starting after a deferment."},
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Jenelle
11 months ago
"Candidate 2", "text": "I'm unsure how to separate the upfront bonus from the yearly deposits."},
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Jenelle
11 months ago
"Candidate 1", "text": "We studied fixed annual investments with later inflation-adjusted withdrawals—annuity factors come in."},
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Jade
11 months ago
[
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Rossana
11 months ago
{
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Jani
11 months ago
Hmm, I'm not totally sure about this one. I know there are different risk responses, but I can't remember all of them off the top of my head. I'll have to think this through carefully.
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Justine
11 months ago
I've seen this type of question before. Based on the code and the information provided, I believe the expected result is Option A. The query is trying to assign a single Account to multiple Contacts, which will result in a QueryException.
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Maryrose
12 months ago
Hmm, I'm not sure about this. I'll need to double-check the syntax and make sure I'm understanding the question correctly.
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