New Year Sale Special Limited Time 70% Discount Offer - Ends in 0d 00h 00m 00s - Coupon code: xmas50

AAFM CTEP - Chartered Trust & Estate Planner® (CTEP®) Certification Examination

AAFM CTEP Premium Access     Download Demo    
Page: 14 / 15
Total 472 questions

Which of the following statement(s) about Investment Trust is/are correct?

A.

Both (i) and (ii)

B.

Only (i)

C.

Only (ii)

D.

Neither (i) nor (ii)

Which of the following cannot be transferred with the help of Trust?

A.

Real Estate

B.

Stock Shares

C.

Annuities

D.

None of the above

Which of the following is/are ancillary benefit(s) of Discretionary Family Trust?

A.

All except (i)

B.

All except (ii)

C.

Only (iii)

D.

All of the above

Which of the following cannot form a Trust?

A.

A Minor

B.

An HUF through its Karta

C.

Both of the above

D.

None of the above

Which of the following statement(s) about Exemption Trust is/are correct?

A.

Only (i)

B.

Neither (i) or (ii)

C.

Both (i) and (ii)

D.

Only (ii)

Which of the following statement(s) about Private Trust is/are correct?

A.

Only (i)

B.

Only (ii)

C.

Neither (i) or (ii)

D.

Both (i) and (ii)

Which of the following statement(s) about beneficiary is/are correct?

A.

None of the above

B.

Only (iv)

C.

All of the above

D.

All except (iii)

Which of the following statement(s) about Indian Contract Act, 1872 is/are correct?

A.

Neither (i) or (ii)

B.

Both (i) and (ii)

C.

Only (i)

D.

Only (ii)

You are an Estate Planner. Mr. Sumit is your client. He wants to set up Trust fund for his child. As an Estate Planner, which of the following instructions will you give to Mr. Sumit?

A.

All except (iv)

B.

All except (iii)

C.

All except (v)

D.

All of the above

Which of the following is an essential condition for obtaining exemption of the income of a Charitable Trust?

A.

Neither (i) or (ii)

B.

Both (i) and (ii)

C.

Only (i)

D.

Only (ii)