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

Last Update 6 hours ago Total Questions : 472

The Chartered Trust & Estate Planner® (CTEP®) Certification Examination content is now fully updated, with all current exam questions added 6 hours ago. Deciding to include CTEP practice exam questions in your study plan goes far beyond basic test preparation.

You'll find that our CTEP exam questions frequently feature detailed scenarios and practical problem-solving exercises that directly mirror industry challenges. Engaging with these CTEP sample sets allows you to effectively manage your time and pace yourself, giving you the ability to finish any Chartered Trust & Estate Planner® (CTEP®) Certification Examination practice test comfortably within the allotted time.

Question # 91

______________ of Income Tax Act,1961 provides for the Registration of a Charitable Trust.

A.

Section 12A

B.

Section 13A

C.

Section 64A

D.

Section 65A

Question # 92

A written instrument is necessary when a Trust is created in relation to an immovable property of the value of ______________ and upwards.

A.

Rs 1,00,000

B.

Rs. 100

C.

Rs. 10,000

D.

Rs, 10,00,000

Question # 93

Compulsory maintenance of account is required u/s 44AA of IT, if the gross receipt/ total sales exceed _______

A.

Rs. 5,00,000

B.

Rs 10,00,000

C.

Rs 15,00,000

D.

Rs 40,00,000

Question # 94

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

A.

Only (i)

B.

Only (ii)

C.

Neither (i) nor (ii)

D.

Both (i) and (ii)

Question # 95

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

A.

Both (i) and (ii)

B.

Only (i)

C.

Neither (i) or (ii)

D.

Only (ii)

Question # 96

Which of the following income comes under “FDAP Income”?

A.

Both (i) and (ii)

B.

All except (iv)

C.

All except (iii)

D.

All of the above

Question # 97

In case where the Filling Status is single, phase-out begin range is ____________ (as in 2013).

A.

$250,000

B.

$372,500

C.

$150,000

D.

$300,000

Question # 98

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

Question # 99

As per Section 164(1) a trust for the benefit of an unborn person is liable to income tax at maximum rate of Income Tax, currently_________.

A.

30%

B.

40%

C.

50%

D.

Depends on the value of Trust

Question # 100

Which of the following is/are advantage(s) of Living Trust?

A.

Only (iii)

B.

All except (ii)

C.

None of the above

D.

All of the above

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