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AAFM Exam CWM_LEVEL_2 Topic 4 Question 91 Discussion

Actual exam question for AAFM's CWM_LEVEL_2 exam
Question #: 91
Topic #: 4
[All CWM_LEVEL_2 Questions]

Section C (4 Mark)

Read the senario and answer to the question.

By calculating HLV of Mahesh indicate the shortfall in his life insurance coverage using the given data:

Mr. Mahesh age 52, retirement age 60, paying professional tax of Rs. 5800 and income tax subject to allowable deductions as Rs. 230000, reasonable self maintenance expenditure estimated Rs. 140000 p.a., life insurance premium for self Rs. 25000 with total sum assured Rs. 1200000. He also pays insurance premium of Rs. 15500 and Rs. 7000 for life insurance policy of his wife and son respectively. Rate of interest assured for capitalization of future income is at 7%

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Suggested Answer: A

by Marilynn at Sep 13, 2024, 04:09 PM

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Jacki
1 months ago
Haha, this is like a financial riddle wrapped in an insurance puzzle! I'm going to go with my gut and choose A) Rs. 24.84 lakh. Who needs math when you have luck on your side, right?
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Bulah
1 months ago
Whoa, this question is tougher than figuring out the meaning of life! But I'm going with B) Rs. 30.23 lakh. It just feels right, you know?
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Lavonda
1 months ago
D) Rs. 36.12 lakh seems like the right answer to me. The scenario presents a lot of details, and I believe the correct HLV calculation would result in the highest option.
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Maxima
11 days ago
Yes, considering all the factors mentioned, it seems like the HLV calculation would indeed lead to option D) Rs. 36.12 lakh.
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Ashton
16 days ago
I agree, the scenario does provide a lot of details that point towards the higher shortfall amount.
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Johnetta
21 days ago
I think option D) Rs. 36.12 lakh is the correct answer.
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Denny
2 months ago
I'm not sure, but I think the shortfall in his life insurance coverage is significant. Maybe the answer is B.
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Steffanie
2 months ago
I agree with Beckie, because Mahesh's life insurance coverage seems to be insufficient based on the given data.
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Beckie
2 months ago
I think the answer is B) Rs. 30.23 lakh.
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Laura
2 months ago
I think the answer is C) Rs. 28.20 lakh. The question gives us the necessary information to calculate the HLV, and with the given rate of interest, the correct answer should be C.
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Brandon
1 months ago
I also calculated it and got C) Rs. 28.20 lakh as the answer.
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Brandon
1 months ago
I agree, the correct answer is C) Rs. 28.20 lakh.
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