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CWM_LEVEL_2 Exam Questions & Answers

Chartered Wealth Manager (CWM) Certification Level II Examination  •  AAFM

1259 Questions 180 min Updated Sep 2026 99% Pass Rate
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Sample CWM_LEVEL_2 Questions

Practice with real exam-style questions, each with the verified correct answer and explanation.

Q1 MultipleChoice

Section B (2 Mark)

Which of the following statements are correct with regard to Bailard, Biehl, and Kaiser Five-Way Model?

Correct Answer: B
Q2 MultipleChoice

Section B (2 Mark)

What is the outstanding balance at the 23rd payment interval of a 16-year loan for Rs11 234 with semi-annual payments and an interest rate of 7.95% compounded quarterly?

Correct Answer: A
Q3 MultipleChoice

Section B (2 Mark)

Which of the following two outcomes is an example of Loss Aversion Bias:

Correct Answer: A
Q4 MultipleChoice

Section A (1 Mark)

''Early accumulation'' life stage is normally during ______

Correct Answer: C
Q5 MultipleChoice

Section A (1 Mark)

The cumulative number of futures contracts that are not offset at any point in time is called:

Correct Answer: B

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Frequently Asked Questions

Candidates must have successfully completed and passed the CWM Level 1 examination before being eligible to sit for the Level 2 exam. Additionally, applicants typically need to meet certain educational and professional experience requirements set by the AAFM, which may include relevant work experience in financial services or wealth management.

The CWM Level 2 exam focuses on advanced wealth management topics including investment management, tax planning, estate planning, risk management, and retirement planning strategies. The exam tests candidates' ability to apply sophisticated financial planning concepts and develop comprehensive wealth management solutions for high-net-worth individuals and families.

The CWM Level 2 exam typically consists of 100 multiple-choice questions that must be completed within a specified time frame, usually around 3 hours. Candidates generally need to achieve a minimum passing score of 70% to successfully pass the examination and advance in the CWM certification process.

The AAFM provides official study materials, textbooks, and preparation courses designed specifically for the Level 2 exam. It is recommended to allocate sufficient study time, review practice questions, join study groups, and consider taking preparatory courses to ensure comprehensive coverage of all exam topics and improve your chances of passing.

Exam fees and retake policies are set by the AAFM and may vary; candidates should check the official AAFM website for current pricing. Most professional certification programs allow candidates to retake the exam if they do not pass on their first attempt, though there may be waiting periods and additional fees associated with each retake.
Exam Details
  • Exam CodeCWM_LEVEL_2
  • VendorAAFM
  • Total Questions1259
  • Duration180 min
  • LanguageEnglish
  • Last UpdatedSep 1, 2026
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