CHARTERED WEALTH  MANAGER® (CWM)®

Examination

Exam policies & procedures of AMERICAN ACADEMY OF FINANCIAL MANAGEMENT INDIA PRIVATE LIMITED (AAFM INDIA) CHARTERED WEALTH MANAGER® (CWM® )

 

 

Overview

CWM® Examination through the NSE Portal

Exam Name
Units Tested
Centers
Exam Date
Exam Language
Duration
Exam Fees
Enrolment Through
Compulsory Pathway
CWM Level-I1-10 Units
NSE
Academy
Centers
 
Throughout
the Year (365
Days)
English180 MinutesRs.7080/
Enrolment and
Scheduling
through NSE Academy
Yes 
CWM Level-II11-20/ & 20%
from
unit 1-10
NSE
Academy
Centers
 
NSE
Throughout
the Year(365
Days)
English180 Minutes
NSE- Rs.
9440/
Enrolment and
Scheduling
through NSE Academy
Yes 

 

CWM® Examination through the Pearson Vue

Exam Name
Units Tested
Centers
Exam Date
Exam Language
Duration
Exam Fees
Enrolment Through
Compulsory Pathway
Experience Pathway
CWM Level-I1-10 Units
Pearson Vue Centers Globally
 
Throughout
the Year (365
Days)
English180 MinutesRs.7080
Enrolment and
Scheduling
Yes 
CWM Level-II11-20/ & 20%
from
unit 1-10 (Level-1)
Pearson Vue Centers Globally
 
Throughout
the Year (365
Days)
English180 Minutes
Rs. 9440/
Enrolment and
Scheduling
through Pearson Vue
YesYes

 

Note:

 

Grading of Exam:

1. Passing percentage for CWM® Examination is 50%.
2. Each candidate would be graded as per the score achieved in the examination:

More than 76%A
65% to 75%B
50% to 64%C
0% to 49%F

 

 

 

Exam Scheduling Process:

  • Candidates can book their CWM® Level 1 & 2 exams through the NSE and Pearson Vue portals.
  • Exams can only be scheduled after 30 days of registration with AAFM® India for Experience Pathway and 60 days of registration for Compulsory Pathway.
  • Compulsory Pathway Student can only enroll for Level II examination after clearing Level 1 Examination.
  • Level 1 & Level 2 exams are online MCQs with no negative marking and the passing percentage for CWM® Examination is 50%.
  • The time duration for Level 1 & Level 2 exams is of 3 hours each i.e. 180 minutes.
  • 20% weightage in the Level II exam is given to Level 1.
  • Candidates who schedule exams through the NSE portal must complete the exam application form on the NSE Academy website and pay the applicable fees online.
  • Candidates who schedule exams through the Pearson Vue portal must complete the exam application form on the AAFM® website and pay the applicable fees online.
  • Candidates scheduling examinations on NSE Academy & PearsonVue portal can schedule their examinations throughout the year. Candidates must always be aware of the following exam scheduling and rescheduling requirements.
  • > Candidates must wait at least 15 days before re-attempting an exam or appearing for the subsequent exams. i.e. there must be a gap of at least 15 days between any two exams. For example, if a candidate takes his CWM level 1 exam on 1st date of the month, then the candidate will be able to only schedule the second attempt or level 2 exam only after 15 days from the previous exam, i.e. on 16th date of the month.
  • > The time to process the exam form will be 7 Days after applying for the exam to AAFM®. For instance, if a candidate applies for the exam on 21st date of the month to AAFM®, he will only be to schedule the exam on 28th date of the month and later on Exam Delivery Partner Portal.
  • > All candidates must schedule their exams and pay 30 days before their registration expiration date. For example, if the course registration is valid until October 31st, the candidate must apply and schedule the exam date by October 1st in order to take the exam until October 31st.
  • > Furthermore, candidates are advised to take the exams one month before their registration expiry date, as the institution will not be liable for the non-availability of the exam center or desired exam slot.
  • A candidate practices the exam on AAFM® Website to make themselves familiar with the look and feel of the exam.
  • Candidates are required to carry a Photo ID and an ID carrying their signatures along with the copy of Exam Confirmation Mail received from Pearson Vue to the examination center.
  • Candidate need to agree to a Non-Disclosure Agreement at the start of the exam.
  • Candidate takes the exam at NSE Academy and Pearson Vue Test Centre.
  • Exam result is shown to the candidate immediately after submitting the exam.
  • Candidates are allowed to take a print out of the exam result.
  • On clearing of Level-II exam candidate needs to fill the CWM® Certification form and pay the requisite fees to AAFM® India. Candidate submits the project work within the given time frame on approval of the project work the Candidate receives the CWM® Certification.

 

Exam Pattern:

Exam Pattern CWM® Level I (Foundation Level)

The table sums up the section wise marks distribution CWM Level I Examination

Sections

Section A

Section B

Section C

Passing
Criteria

 

 

Marks

 

No. of
Questions

Total Marks

No. of
Questions

Total Marks

No. of
Questions

Total Marks

 

50 % i.e. A
score of 50 in the examination

(there is no
negative marking)

1

40

40

0

0

0

0

2

0

0

30

60

0

0

4

0

0

0

0

15

60

Total

 

40

40

30

60

15

60

CWM Level 1
Examination

Total Question

85

Total Marks

160

 

 

 

 

 

 

 

Testing Significance of each Unit in CWM® Level I (Foundation Level)

Level 1 Exam consists of 85 Questions of 40 Mcqs of 1 Mark; 30 Mcqs of 2 Marks and 15 Mcqs of 4 marks each and the total marks are 160.
 
Unit No.
Unit Name
1 Mark
2 Marks
4 Marks
Total Question
Total Marks
1Concept of Wealth Management421712
2Indian and Global Financial System331713
3Investment Vehicles in Wealth Management5421121
4Measuring Investment Risk and Returns331713
5Concept of Insurance and Risk Management332817
6Role of Wealth Management in Banking221510
7Legalities in Wealth Management221510
8Tax Laws for Wealth Management8431528
9Life Cycle Management432918
10Intergenerational Wealth Transfer & Tax Planning641718
 Total40301585160

 

 

 

 

Exam Pattern CWM® Level II (Advanced Level)

The table sums up the section wise marks distribution CWM Level II Examination

Sections

Section A

Section B

Section C

Passing
Criteria

 

 

Marks

 

No. of
Questions

Total Marks

No. of
Questions

Total Marks

No. of
Questions

Total Marks

 

50 % i.e. A
score of 80 in the examination

(there is no
negative marking)

1


40


40


0


0


0


0

2


0


0


30


60


0


0

4


0


0


0


0


15


60

Total

40

40

30

60

15

60

CWM Level 2
Examination

Total Question

85

Total Marks

160

 

 

 

 

 

 

 

 

 

Testing Significance of each Unit in CWM® Level II (Advanced Level)

Level️2 ️Exam️ consists️ of ️85 ️Questions️ of️ 40 Mcqs ️of ️1️ Mark; ️30 Mcqs ️of ️2 ️Marks️ and 15 Mcqs️ of️ 4️ marks️ each️ and️ the️ total️ marks️ are️ 160.
Unit No.
Unit Name
1 Mark
2 Marks
4 Marks
Total Question
Total Marks
1Equity Analysis323819
2Alternative Investment Products in Wealth Management432918
3Real Estate Valuation Analysis32057
4Behavioural Finance in Wealth Management421712
5Relationship Management by a Wealth Manager350813
6Loan & Debt Management41056
7Portfolio Management Strategies331713
8International Taxation and Trust Planning241714
9Wealth Management Planning42068
10Advanced Wealth Management005520
Level ILevel 1 (Unit 1 to 10)10621830
 Total40301585160

 

 

 

20% weightage in Level II exam is given to Level I

The marks signify the difficulty level and time consumption in solving the question.

The Advanced Wealth Management questions would be in form of case study in built in the examination.

 

 

Permitted Accessories

  • Students are only permitted to use CASIO FC 200 V Financial Calculator in the examination. No exchange of accessories will be permitted during the examination.
  • Students are not allowed to carry any paper during the examination.
  • Students are not allowed to carry Laptop, Palmtop, Log Tables, and Annuity Tables etc.
  • Students are not allowed to use Calculators in their Mobile Phones.
  • Mobile Phones are to be compulsorily kept switched off during the examination

 

 

 

Examination Results

Results will be declared by the system itself once the student clicks the Submit button after the Examination is completed or if the Examination duration is elapsed the system will treat the answer sheet as submitted and result will be displayed on the screen. Students have the option of taking a printout of their result at the test centre after the Examination.

 

 

 

Major Examination Policies

1. Confidentiality Policy

AAFM India strives to maintain the confidentiality of exam result of all the unsuccessful candidates. The results would be uploaded in the individual account of the candidate at the AAFM Website once in a fortnight. The intimation to successful candidates in Level II Advanced Level would be sent by mail requisitioning the candidate to apply for the CWM® Certification. Once the Candidate applies for the certification project work is sent. On submission and acceptance of the project the candidate details would be forwarded to AAFM USA for issuance of the Certification.

Any documents submitted by the candidates at centre, viz. rough sheets, back-up sheets, feedback form, etc. are the property of AAFM India. They shall not be subject to any public scrutiny. The same is to preserve the confidentiality of candidate specific information. These are also required for gathering useful information to strengthen our examination system.

No question/s or part of the paper which appear on the computer terminal should be copied from the test screen and/or taken out of the examination hall as it shall lead to disqualification of the candidature. In case of serious ambiguity in a question item, the same should be noted down only with the specific approval of exam coordinator in his/her presence. The replies to such queries would be sent without subverting the confidentiality of test items, within 7 days of the receipt of related documents from the Exam Administrator.

2. Non-discrimination Policy

AAFM India follows a policy of non-discrimination among candidates who appear for any AAFM examination. The on-line testing medium, algorithm used, facilities provided in terms of on-line content and testing and threshold criteria are the same for all candidates. On the strength of the aforesaid, there is no discrimination of any kind among the eligible candidates on the basis of pathway or mode of examination chosen, sector, region, caste, religion, age, gender, or on the basis of additional qualification and experience than those mandated for specific pathway, or on the basis of the allegiance of candidates to institutional entities or authorized educational entities.

3. Review and Appeals Policy

Specific query related to a particular question, if any, should be pointed out by the candidate during the course of the examination to the test coordinator at the test centre. For this the candidate is expected to submit his/her query in writing to the test coordinator after completing the examination, while submitting all other examination related documents. Subsequent queries through mail or post to AAFM India shall not be entertained.

4. Exam Discipline

AAFM India would treat the instances of resorting to unfair means or malpractices noticed during examination very seriously and any candidate found doing so will be expelled from taking the examination and his/her candidature shall be cancelled.

5. Rescheduling and Cancellation Policy

Exams once scheduled cannot be cancelled for any reason whatsoever.

If the candidate after paying the examination fees to AAFM India does not schedule the exam at Pearson Vue during the registration eligibility period the fees paid would not be refunded nor would be adjusted further. On registration renewal with AAFM India the candidate would be required to pay the examination fees again.

Rescheduling of Examination is possible 48 hours prior to the examination on payment of Rs. 1127 to Pearson Vue. Rescheduling of examination is not allowed if the time to examination is less than 48 hours.

Candidate not appearing at the examination centre on the scheduled examination would be treated as absent and the fees would not refunded back.

 

 

Retake Policy:

Candidates will be allowed to book a retake after 15 days, regardless of whether the candidate failed or passed the previous attempt.

 

 

 

Examination Policies:

Standard Primary IDs (with both Photo and Signature)

1. Driving license
2. Passport
3. Election card/voter ID
4. PAN card
5. Photo identity issued by a school, college or university
6. UID/Adhar card
7. Employee ID with photo and signature

 

 

Standard secondary IDs (with Signature)

1. Any primary ID
2. Credit card
3. ATM card

Names on IDs must exactly match those given by the candidate during registration. Discrepancies on IDs that are due to typographical errors, traditional & cultural variations, and technical limitations must be reported by candidates to AAFM who will need to inform Pearson VUE as soon as possible.

Candidates will also be required to produce the appointment confirmation letters received from Pearson VUE after scheduling their test.

1. Late Arrivals and No-shows

The standard arrival policy of 30 minutes was agreed where-by the candidates must arrive 30 minutes before the exam to their test center. Late arrival period of upto 30 minutes is allowed. If the candidate does not arrive within this period, and the test center is unable to accommodate him or her later, the candidate will be turned away and marked as a No-show.

2. Erasable note board/booklet

Candidates will receive one erasable note board & a pen to use for rough work during the exam.

3. Exhibits, personal items, Calculators

Candidates will be allowed to have an erasable note board and a pen inside the testing room.
Only Casio FC 200V Financial Calculator will be allowed.
Candidates will not be allowed to take mobile phones, headphones or any personal items / exhibits into the testing room.

4. Break policies

AAFM exams will not have any scheduled breaks
Candidates can access personal belongings during unscheduled breaks limited to essentials such as medicines but no access to texts or printed materials should be allowed.

The CWM® India Examination is held across India across 75 Cities and Globally across 200 Cities spread over 27 Countries.

To Locate an Examination Centre nearest to you: Click Here

To Locate Nearest NSE(National Security Exchange) Examination Centre: Click Here

Decisions of AAFM India in all matters pertaining to the examination shall be final and binding.

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