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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 # 101

A Discretionary Trust can be formed for the benefit of ________________________

A.

Only Living

B.

Only Non Living

C.

Both Living and Non Living

D.

Either Living or Non-Living

Question # 102

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)

Question # 103

Mr. Syelwester Andrews, a Resident Indian, has income derived from rubber plantation in Malaysia. It shall be treated as:

A.

Agricultural income and hence exempt

B.

Agricultural income but taxable under the head Income from Other Sources

C.

Exempt as earned outside India

D.

Taxable in Malaysia

Question # 104

In ____________ the parties have the right to withdraw from the contract as long as the parties do not leave the place of contract. In___________ the buyer could cancel the sale if the seller has sold the goods at price higher than the market price.

A.

Khiyar al Royat, Khiyar al Wasf

B.

Khiyar al Tayin, Khiyar al Shart

C.

Khiyar al Aib, Khiyar-e-Naqad

D.

Khiyar-e-Majlis, Khiyar al Ghabn

Question # 105

As per Hindu Adoptions and Maintenance Act,1956 a female Hindu can make adoption in which of the following cases

A.

Only (i)

B.

(i) and (ii)

C.

(i) and (iii)

D.

(i),(ii) and (iii)

Question # 106

A salaried individual, aged 45 years, was awarded a car of market value Rs. 6,50,000 by his credit card company in a draw on 20th December 2012. There was no TDS by the company. He has total income from salary of Rs. 8,45,000 in the previous year 2012-13. He saved a total of Rs. 1,80,000 under different investment instruments eligible for exemption u/s 80C and Rs. 25,000 was paid by him on 5th January, 2013 towards his health insurance policy. Find his tax liability for AY2013-14.

A.

Rs. 2,77,070/-

B.

Rs. 2,79,130/-

C.

Rs. 2,60,590/-

D.

Rs. 78,280/-

Question # 107

Receipts from TV serial shooting in farm house is __________________

A.

Non agricultural income

B.

Agricultural income

C.

Salary Income

D.

Business Income

Question # 108

____________ means excess, increase or addition according to Sharia’ah Terminology. Bahrain has over _________ financial institutions with a wide range of activities including Islamic Insurance.

A.

Riba, 30

B.

Riba,39

C.

Ijarah,30

D.

Ijarah,39

Question # 109

Lokesh purchased a flat on 1-4-1996 for Rs. 10,00,000/-. He sells the same flat on 1-10-2006 for Rs. 25,00,000/-. As a CTEP calculate the Indexed Cost of Acquisition on which capital gain would be calculated. (The CII of year 1995-96 is 281, for year 1996-97 is 305, for year 2005-06 is 497 and for year 2006-07 is 519).

A.

Rs.17,01,639

B.

Rs.18,46,975

C.

Rs.17,68,683

D.

Rs.16,29,508

Question # 110

There are ______________ sources of Muslim Law. As per Muslim Law, a marriage that is unlawful from it’s beginning is called ____________.

A.

Three, Batil Marriage

B.

Three, Fasid Marriage

C.

Four, Batil Marriage

D.

Four, Fasid Marriage

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