CISI ICWIM - International Certificate in Wealth & Investment Management
- Exam Code: ICWIM
- Exam Name: International Certificate in Wealth & Investment Management
- Updated: Jun 24, 2026
- Q & A: 256 Questions and Answers
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1. The concept of the Sharpe ratio is to measure the:
A) Effect the annual charge has on fund performance
B) Amount of performance attributable to a benchmark
C) Return above a risk-free rate
D) Ability of the fund manager in different scenarios
2. What is likely to be the result if an annual review of a client's financial plan indicates a significant change in their risk profile?
A) A rebalancing exercise
B) A customer due diligence check
C) A top-up payment
D) A change to the charging structure
3. Under an accumulation and maintenance trust, when does the trustees' discretion over payments normally cease (if at all)?
A) It continues indefinitely
B) On the death of the life tenant
C) At the end of a prescribed period
D) On the death of the settlor
4. A stockbroking firm receives both buy and sell orders for the same security but from different clients. How can they best avoid a conflict of interest?
A) Withdraw their services for the transaction
B) Place orders as they are received from the clients
C) Openly disclose all orders received to the clients
D) Process the sell orders before the buy orders
5. When redemption yields are quoted on a net-of-tax basis, this is so that:
A) The default risk can be taken into account
B) An investor can reinvest the interest payment at the same net redemption yield
C) A risk of inflation rising unexpectedly and its effect on the real value of the bond's coupon payments and redemption payment can be taken into account
D) A direct comparison can be made of the net return to the investor
Solutions:
| Question # 1 Answer: C | Question # 2 Answer: A | Question # 3 Answer: C | Question # 4 Answer: B | Question # 5 Answer: D |
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