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AAFM Exam GLO_CWM_LVL_1 Topic 7 Question 90 Discussion

Actual exam question for AAFM's GLO_CWM_LVL_1 exam
Question #: 90
Topic #: 7
[All GLO_CWM_LVL_1 Questions]

Sunil, aged 33 years, is having a policy of Rs. 1 Lac sum assured and is paying premium of Rs. 1,800/- for the last 10 years. The cash surrender value of this policy is at the end of previous year was Rs. 20,000. It is estimated that by this year end, the cash surrender value of this policy would be Rs. 22,900.

There is another term insurance of sum assured of Rs. 80,000 costs Rs. 300/- per annum which is available to him . If rate of interest is 6%, then first calculate the CPT of existing and new policy respectively and then advise Sunil if it is better to continue this policy or to discontinue it?

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Suggested Answer: A

by Theresia at Sep 18, 2024, 10:32 PM

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Ligia
2 months ago
I believe option B is the correct answer, as it suggests continuing the policy.
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Glory
2 months ago
Ah, the age-old dilemma of insurance policies. I'd say go with option D just to keep things interesting. Who needs money when you can have excitement, right?
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Hermila
16 days ago
I agree, option D does sound like it could shake things up a bit.
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Zona
18 days ago
I'm not sure about option D, seems a bit too risky for my taste.
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Earleen
30 days ago
I would go with option D too, why not add a little thrill to your financial decisions?
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Marget
1 months ago
I think option D sounds like a risky but exciting choice.
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Gearldine
2 months ago
Wait, so we're supposed to calculate the CPT? I thought this was a simple question about insurance. I'm just going to go with option A and hope for the best.
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Jacob
2 months ago
Hmm, I'm not sure about this one. The calculations seem a bit complex, but I think I'd go with option B. Seems like the better choice to continue the policy.
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Lonny
17 days ago
Yes, option B is the way to go. Let's continue the policy.
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Denna
18 days ago
I agree, let's go with option B and continue the policy.
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Jolene
1 months ago
Option B seems like a good choice. The calculations can be tricky.
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Claudio
2 months ago
I agree, it's important to compare the CPT before making a decision.
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Lura
2 months ago
I think Sunil should calculate the CPT of both policies first.
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