Chartered Wealth Manager – CWM Exam Guide – There are more than 50,000 Chartered Wealth Managers globally and are spread in more than 151 countries. CWM was founded in the year 1996 by AAFM that is the American Academy of Financial Management.
This certification is actually very good if you come from the background of asset management, asset allocation, and wealth management background. Nothing can be better than this course to boost the value of your resume. This course is organized by worldwide financial and standard professionals who offer exclusive and certified designations along with chartered and master’s certifications to candidates who are capable of meeting high standards.
In this article, we look at the nuts and bolts of CWM examination
- About CWM Program
- CWM Program Completion Criteria
- Why pursue a CWM examination?
- CWM Examination Format
- CWM Part I exam (Foundation level)
- CWM Part II exam (Advanced level)
- CWM Examination Fees
- Strategies for the CWM Examination
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About CWM Program
The chartered wealth manager is a designation that is recognized globally or you can also call it a global designation. The people in possession of this certificate can work in the country they wish to work as a CWM. Its course content is a mix of Indian and International judicious content which enables the participants to get a complete understanding of both the Indian as well as the international financial background.
- Job roles: Portfolio and asset manager, wealth manager, broker, market analyst, financial controller, head of finance, private banker, etc.
- Exams: There are approximately 20 units to complete in both the levels of examinations the level 1 is the Foundation level which is a two-hour examination for 100 marks; whereas level 2 includes the advanced level of examination this is a 3-hour examination for 160 marks.
- CWM exam dates: You can choose to appear for this examination depending on your flexibility. It is an online exam and you need to apply for the same as per your convenience there are dates available online to choose from.
- Eligibility: To become a certificate holder the minimum qualification you need is a graduate, you need to be a graduate to appear or register for this certification course. And most importantly you need relevant 3 years’ work experience to register for a Chartered wealth manager certification.
CWM Program Completion Criteria
- As mentioned in the notes above this course of Chartered wealth manager is divided into 2 parts that are the foundation level and then the advanced level. The foundation level includes an overview of Indian and global financial systems, concept and lifecycle of wealth management, measuring investments in wealth management, etc these topic cover the foundation level topics
- Whereas level two that is the advanced level includes topics such as equity analysis, loan, and debt management portfolio management strategies, advanced wealth management, etc.
- The 1st level is for 100 marks and its duration is 2 hrs and the 2nd level is for 160 marks and its duration is for 3 hrs.
- The candidate needs to be a graduate to register for this certification
- Besides the education, the candidate also needs skills such as product knowledge, understanding of client psychology, customer management, skills of sales and soft skills, understanding financial market and competition and also business understanding.
Why pursue a CWM examination?
You are passionate about the management of wealth this is just what you should do. Understanding the market allocation of resources etc is extremely interesting for passionate people only. To pursue this certification you need the love and dedication for finance.
- CWM enhances your potentials for managing wealth and portfolios for corporate and individuals.
- The candidates get updates of the industry and the opportunities as a wealth manager with relevance to the globe. They learn market dynamics and innovation in financial products in wealth management. Gaining insights into global best practices in the financial industry they understand the options and issues in wealth planning.
- They develop skills in building wealth management solutions for the ability of clients. They develop strategies and confidence in dealing with customers in a friendly way using a friendly language to build stronger customer relationships. Their capabilities are gained through strategic and structural processes.
- Applying for this certification prepared the students’ thoughts is tough and practical orientation and course structure. And the outcome of this course is a fully trained wealth manager who is ready for the tough wealth management industry.
- Wealth management is one of the fastest-growing and highly paid careers these days. Demands as per the studies state that India alone falls under the fastest growing economies of the world which has approximately 200000 families that fall under the ultra-high net worth family bracket however the is estimated to grow higher in the next few years to come the country has more than 20000 chartered wealth managers and is estimated to grow up to 50000 in the next couple of years. This means each wealth manager may handle close to 50 high net worth clients and this provides a good amount of employment and also a very good career scope.
- Professionals who really want to pursue their careers in wealth management like Investment Strategies, Life Cycle Management, Intergenerational Wealth Transfer, Relationship Management, Behavioral Finance, Alternative Products, Real Estate Valuation and Global Taxation this certification is just perfect as it suits your requirement and gives your career a boost a good kick start or maybe a restart to grow higher.
CWM Examination Format
| CWM Exam | CWM Part I Exam
( Foundation level) |
CWM part II exam
( Advanced level) |
| Focuses on | Overview of Indian and Global Financial System.
Concept of Wealth Management Life Cycle Management Measuring Investment Returns in Wealth Management Investment Vehicles of Wealth Management Managing Investment Risk in Wealth Management Indian Tax Laws Legalities in Wealth Management Role of Wealth Management in Banking Intergenerational Wealth Transfer & Tax Planning
|
Equity Analysis
Use of Alternative Products in Wealth Management Use of Behavioral Finance in Wealth Management Real Estate Valuation and Analysis Loan & Debt Management Portfolio Management Strategies Relationship Management by a Wealth Manager International Taxation and Trust Planning Wealth Management Planning Advanced Wealth Management |
| Exam Format | Online exam | Online exam |
| Pass percentage | 50% marks in all subjects with no negative marking | 50% marks in all subjects with no negative marking |
| Duration | 115 minutes | 175 minutes |
| Exam date | Bookings made at your convenience, however, the examination dates fall between 10th and the 20th of every month. | Bookings made at your convenience, however, the examination dates fall between 10th and the 20th of every month. |
CWM Part I exam (Foundation level)
The foundation level of Chartered Wealth Manager covers the basic fundamentals of wealth management that deals with a different aspect like investment strategies, life cycle management, intergenerational wealth transfer, management of relationships, etc. This level covers 10 units these units are Overview of Indian and Global Financial System, Concept of Wealth Management, Life Cycle Management, Measuring Investment Returns in Wealth Management, Investment Vehicles of Wealth, Management Managing, Investment Risk in Wealth Management, Indian Tax Laws, Legalities in Wealth, Management Role of Wealth, Management in Banking, Intergenerational Wealth Transfer & Tax Planning
- The CWM examinations are all online examinations and are not written.
- To clear this examination you need to score at least or a minimum of 50%; however, this certification does not include any negative marking.
- Duration to clear this exam is 115 minutes
- You can book your seat whenever you are ready; however, remember that the examination date will be anytime between the 10th and the 20th of every month.
- The foundation level examination pattern is given below.
| Marks for questions | Number of questions |
| 1 Mark | 30 Questions |
| 2 Marks | 15 Questions |
| 4 Marks | 10 questions |
| Total 100 marks | 55 questions |
CWM Part II exam (Advanced level)
- Advanced Chartered Wealth Management that is CWM covers the following units Equity Analysis, Use of Alternative Products in Wealth Management, Use of Behavioral Finance in Wealth Management, Real Estate Valuation and Analysis, Loan & Debt Management, Portfolio Management Strategies Relationship Management by a Wealth Manager, International Taxation and Trust Planning Wealth Management Planning
- The CWM examinations are all online examinations and are not written.
- To clear this examination you need to score at least or a minimum of 50%; however, this certification does not include any negative marking.
- Duration to clear this exam is 175 minutes
- You can book your seat whenever you are ready; however, remember that the examination date will be anytime between the 10th and the 20th of every month.
- The advanced level examination pattern is given below.
| Marks for questions | Number of questions |
| 1 Mark | 40 Questions |
| 2 Marks | 35 Questions |
| 4 Marks | 15 questions |
| Total 160 marks | 80 questions |
CWM Examination Fees
Just like every course the CWM fee structure varies, the variation is in the type of fee you pay along with what reason you pay the fee for. The fee structure table is given below for a better understanding.
| Type of fee | Fee in $ |
| Registration fee | $400 |
| Examination fee | Depends on the place of registration |
| Level 1 payable at the time of registration | $200 |
| Level 2 | $600 |
| Certification Fee payable once the candidate clears the necessary examination | $100 |
| Rescheduling Fee excluding the study material | $125 |
| Reexamination Fee excluding study material not available | $200 |
- Level 1 fee needs to be paid at the time of registration and once registered the registration is valid only for 365 days. Level 2 examination fee needs to be paid before appearing for the examination.
- A print out of the study material is not available and; however, the study material is available online.
- Fee once paid is not refundable and the above fee structure does not include taxes as taxes differ from country to country.
(Note: The examination is not held in a specific period or a specific time slot hence giving a passing percentage is not possible for this course. In fact, the examinations are taken as per the convenience of the candidate for the candidate can appear for an examination every month)
Strategies for the Chartered wealth manager Exam
- Know the syllabus and the structure of the CWM examination as this will tell you and show you where to start and how to start.
- Planning is extremely important before you start something new now that your syllabus and the structure of the exam and its course material you need to plan your next move of starting to study for this not so easy certification. This certification is not as easy as it looks. Experts say that studying for this examination needs a dedicated 200 hrs pre-exam preparation. Plan studying accordingly.
- Important to understand the types of papers hence take a number of mock tests that will be available online. This will give you an idea of the question paper that you will come across during your examination.
- Study daily by understanding the concepts and not simply memorizing your material.
- Oh yes, study only from approved or study material provided online. Because no hard text material will be sent out to you, you will have to either get the material printed or you will have to study online.
- Download as many as mock test papers, look for previous test papers if possible solve them this will give you an idea of how the test is conducted. Solve as many as possible to make sure you understand and fair better.
- Seek advice from seniors or classes in case you feel you need help.
- Revision is very important do not forget revising, neither should you ignore it. Last-minute revision is your savior.
- Say no to panic, in case of panic situations practice relaxation exercises to help you study better, take care of your health by eating, and sleeping well as this will help fair better.
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