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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 # 121

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

A.

Only (i)

B.

Only (ii)

C.

Neither (i) nor (ii)

D.

Both (i) and (ii)

Question # 122

With reference to the Hindu Marriage Law, which of the following statement(s) is/are correct?

A.

Both (i) and (iii)

B.

All of the above

C.

Both (ii) and (iii)

D.

None of the above

Question # 123

If the adoption is by a male and the person to be adopted is a female, the adoptive father should be at least _______________ older than the person to be adopted. In case, the adoption is by female and the person to be adopted is a male, the adoptive mother should be at least_________ older than the person to be adopted.

A.

21 years, 21 years

B.

18 years, 18 years

C.

21 years, 18 years

D.

18 years, 21 years

Question # 124

Scholarship received by a student was Rs. 2,000 per month. He spends Rs. 15,000 for meeting the cost of education during the year. The treatment for the balance amount Rs. 9,000 is:

A.

Taxable

B.

A casual income

C.

Exempt

D.

None of the above

Question # 125

Wealth Tax is charged at _________ the amount by which the net amount exceeds Rs. ____________________

A.

1%; 15 Lakhs

B.

1%; 25 Lakhs

C.

2%;10 Lakhs

D.

2%, 15 Lakhs

Question # 126

A Grantor Trust is never a _________________ Trust.

A.

Revocable Living

B.

Irrevocable

C.

Testamentary

D.

Simple

Question # 127

As per Section 3 of the Indian Trusts Act, a person who declares the confidence is called ____________ of the Trust.

A.

Trustor

B.

Trustee

C.

Author

D.

None of the above

Question # 128

Private Sector hospitals, which are formed under a trust as a society, would be exempt from the tax if the annual receipts of such hospital or institution do not exceed _______________ as per Section 10(23(C).

A.

1 crore

B.

50 Lakhs

C.

10 crores

D.

10 Lakhs

Question # 129

The Gift Tax Act came into force on _________________ and was deleted vide the Finance Act,__________.

A.

1st April 1958;1998

B.

1st April 1958;2008

C.

31st March 1958;1998

D.

31st March 1958;2008

Question # 130

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

A.

Only (i)

B.

Only (ii)

C.

Both (i) and (ii)

D.

Neither (i) or (ii)

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