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ICWIM考古題分享，ICWIM權威考題

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>> ICWIM考古題分享 <<

免費下載的CISI ICWIM：International Certificate in Wealth & Investment Management考古題分享 - 可信任的Testpdf ICWIM權威考題

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最新的 CISI level 3 Certificate ICWIM 免費考試真題 (Q139-Q144):

問題 #139
In what circumstances would a central bank use its foreign reserves in the currency markets?

• A. When influencing the short-term interest rate
• B. To control the money supply
• C. To lower the rate of inflation
• D. To influence the nation's currency

答案：D

解題說明：
* Central Bank Actions with Foreign Reserves
* Central banks use foreign reserves to intervene in currency markets to stabilize or influence their nation's currency exchange rate.
* This can involve buying or selling foreign currencies.
* Why the Answer is C
* Currency interventions aim to manage exchange rate volatility, maintain competitiveness, or stabilize the currency during economic shocks.
* Why Other Options are Incorrect
* A. Inflation: Not directly controlled through currency market interventions.
* B. Money supply: Managed through monetary policy tools like open market operations.
* D. Short-term interest rates: Controlled through domestic monetary policy, not foreign reserves.
* ICWIM Study Guide, Chapter on Monetary Policy: Explains the use of foreign reserves for currency stabilization.
* Central Banking Principles: Discusses currency interventions.
ReferencesThus, the correct answer isC. To influence the nation's currency.

問題 #140
How does the inclusion of a bond fund within a portfolio provide benefits over direct investing?

• A. Bond fund charges will always be lower
• B. A bond fund is more likely to match the exact needs of the client
• C. A bond fund provides a greater level of income
• D. It allows for diversification that would not otherwise be possible

答案：D

解題說明：
Bond funds offer greater diversification than purchasing individual bonds, reducing risk exposure.
* Why is Option B Correct?
* Broad diversification # A bond fund spreads investments across multiple issuers, reducing default risk.
* Professional management # Bond fund managers actively manage interest rate risk and credit risk.
* Why Not Other Options?
* A (Greater income) # Bond funds do not always provide higher income than direct bonds.
* C (Lower charges) # Bond funds may have management fees that individual bonds do not.
* D (Exact match to client needs) # Individual bonds may be better suited for specific income needs.
# Reference: CFA Institute (Fixed Income Investing), CISI Wealth & Investment Management.

問題 #141
A business may need key person protection because:

• A. It is a very small business
• B. Its profits are very seasonal
• C. The business relies on the input of an individual
• D. It is to cover a very significant customer

答案：C

解題說明：
* Key Person Protection:
* This insurance protects a business against financial loss if a critical employee (e.g., founder, CEO) becomes incapacitated or dies.
* It is designed to mitigate reliance on essential individuals whose absence would disrupt operations.
* Elimination of Other Options:
* B: Size of the business is not the determining factor.
* C: Significant customers are protected under other insurance (e.g., credit insurance).
* D: Seasonal profits do not relate to key person risk.
References:
* ICWIM Module 5: Focus on business risk management and insurance needs.

問題 #142
An investor deposits £1,000 into an account that pays interest at the rate of 3% per year. If the interest is credited to the account at the end of the year and the investor leaves the money in the account for 5 years, how much money will be in the account at the end of the fifth year?

• A. £1,276.28
• B. £1,157.63
• C. £1,159.27
• D. £1,150.00

答案：B

解題說明：
* Compound Interest Formula:A=P×(1+r)nA = P imes (1 + r)