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Exam Information
Official specifications published by ABA
Exam Format
180 min
100-150
50%
Foundation
Registration
500-1000
Online Proctored, Pearson VUE (Computer Based Testing), or online proctoring
Validity
Lifetime with continuing education requirements
30 CPD (Continuing Professional Development) hours annually from Year 2 onwards; CPD waived for first year after certification; 10% of members randomly audited annually for CPD compliance
CWM-LEVEL-1 Exam Topics and Domains
CWM-LEVEL-1 is organized into 10 weighted domains. Expect to work with Annuity providers, Custody services, Equity research platforms, Fund comparison tools, and more.
1
Concept of Wealth Management
10%
Wealth Management Fundamentals
Wealth Management ProcessesTime Value of MoneyPersonal Financial Statements
- Master the fundamental wealth management process framework
- Apply time value of money calculations to wealth management scenarios
- Construct and analyze personal financial statements for clients
Industry Dynamics
Wealth Management Industry Structure
Understand the structure and dynamics of the wealth management industry
2
Indian and Global Financial System
10%
Financial Markets and Institutions
Global Financial MarketsIndian Financial System
- Understand the structure and function of global financial markets
- Comprehend the Indian financial regulatory framework
Monetary Systems and Economic Environment
Economic Factors Affecting Portfolios
Analyze how economic environments affect client portfolios
3
Investment Vehicles in Wealth Management
10%
Asset Classes and Investment Products
Equity InvestmentsMutual FundsInvestment Product Structures
- Analyze and recommend appropriate investment vehicles
- Understand product structures and their implications
- Evaluate investment products based on client objectives
Portfolio Construction
Optimal Portfolio Allocation
Construct optimized portfolios based on client risk-return profiles
4
Measuring Investment Risk and Returns
10%
Return Measurement
Time-Weighted vs Money-Weighted ReturnsReturn Metrics Across Asset Classes
- Master various return measurement methodologies
- Calculate and interpret returns across different asset classes
Risk Analysis and Management
Risk MetricsRisk Assessment
- Analyze investment risks using quantitative metrics
- Assess and manage portfolio risk exposures
5
Concept of Insurance and Risk Management
10%
Insurance Planning
Life InsuranceHealth and Disability InsuranceProperty and Liability Insurance
- Analyze client insurance needs across all risk categories
- Recommend appropriate insurance solutions for risk mitigation
Risk Management Strategies
Protection Planning
Develop comprehensive risk management strategies for clients
6
Role of Wealth Management in Banking
10%
Banking Industry and Wealth Management
Banking OperationsBanking Products Available in Indian Market
- Understand banking industry operations and wealth management integration
- Identify and recommend appropriate banking products for clients
7
Legalities in Wealth Management
10%
Legal Framework
Statutes and RegulationsBusiness and Family Legal Structures
- Understand legal and regulatory frameworks governing wealth management
- Identify appropriate legal structures for different wealth management goals
8
Tax Laws for Wealth Management
10%
Indian Tax Structure
Income Tax FundamentalsInvestment Taxation
- Understand Indian tax structure and its impact on wealth management
- Calculate tax implications of various investment strategies
Tax Planning Techniques
Tax Optimization Strategies
- Develop tax-efficient wealth management strategies
- Optimize client portfolios for after-tax returns
9
Life Cycle Management
10%
Life Cycle Financial Planning
Life Cycle StagesRetirement PlanningWealth Creation Processes
- Develop life cycle-based financial strategies for clients
- Create comprehensive retirement plans addressing income needs and longevity risk
10
Intergenerational Wealth Transfer & Estate Planning
10%
Estate Planning Fundamentals
Estate Planning ToolsFamily Succession Planning
- Design comprehensive estate plans for clients
- Facilitate intergenerational wealth transfer with minimal tax impact
Wealth Preservation and Transfer Tax Planning
Tax Implications of Wealth TransferWealth Preservation Strategies
- Develop tax-efficient wealth transfer strategies
- Implement wealth preservation techniques for multi-generational planning
How do I earn this certification?
Passing CWM-LEVEL-1 earns the Chartered Wealth Manager (CWM) certification. It sits in the Wealth Management track.
Next Level Options
- CWM-LEVEL-2 - CWM Level 2 Completion (Full CWM Designation)Complete the full Chartered Wealth Manager certification
- Master Financial Planner (MFP) Complementary financial planning certification from AAFM
- Chartered Asset Manager (CAM) Specialized asset management focus
- Accredited Financial Analyst (AFA) Investment analysis specialization
Alternative Paths
- Certified Financial Planner (CFP) Alternative comprehensive financial planning certification
- Chartered Financial Analyst (CFA) Investment-focused certification
- NISM Investment Adviser Certifications India-specific regulatory certification for RIA registration
Practice with Precision
The PlanetCert Simulator mirrors the real exam environment with authentic questions and timed pressure.
How to study for this exam?
The most effective way to prepare for CWM-LEVEL-1 is by using the PlanetCert Simulator to practice questions and review detailed explanations.
What's changed on this exam?
Current Status
- ACTIVE
- Last content update: 2024
Updates
- Online Proctoring Systems Increased exam accessibility with remote testing options
- Digital Study Materials Study materials available exclusively online (no printouts)
- CPD Tracking Portal Members track CPD activities through My AAFM India login account
Who should take this exam?
Graduate degree from accredited institution
- Basic understanding of financial concepts
- Familiarity with financial calculators (Casio FC 200V)