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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 # 21

According to ___________ of the Registration Act, 1908 the registration of a Will is not compulsory. A suit can only be filed within ___________days after the refusal of registration by the Registrar. An oral will made by a soldier above 18 years of age will be valid for __________ while a written will be valid for ___________.

A.

Section 18, 30, One month, Forever

B.

Section 18,15,One Month, Three Months

C.

Section 8, 15, One Month, Forever

D.

Section 8, 30, One Month, Forever

Question # 22

Mr. Sumit has worked in a PSU for 14 years 7 months. His Terminal Wages are Rs. 45,000. He wants to know the Gratuity amount payable to him (assuming that he leaves the service today). It is_____________

A.

Rs. 3,89,423

B.

Rs. 3,50,000

C.

Rs. 3,63,462

D.

Rs. 3,15,000

Question # 23

The employer had purchased a car for Rs. 3,00,000 which was being used for official purposes. After 2 year 6 months of its use, the car is sold to R, the employee, for Rs. 1,20,000. The value of this perquisite shall be __________.

A.

Rs. 72,000

B.

Rs. 60,000

C.

Nil

D.

Rs. 1,23,000

Question # 24

Hire Purchase System was developed in ___________. Hire purchases are commonly used by businesses (including companies, partnerships and sole traders) in ________ to fund the purchase of cars, commercial vehicles and other business equipment.

A.

United Kingdom, Australia

B.

India, Malaysia

C.

United States, United Kingdom

D.

Australia, India

Question # 25

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

A.

All of the above

B.

Only (i)

C.

Only (ii)

D.

Only (iii)

Question # 26

Which of the following is/are the neccessary contents of a will?

A.

I, II and III

B.

I, III and IV

C.

I, II and IV

D.

All of these

Question # 27

In Singapore, no will made by any person under the age of ___________ will be valid.

A.

16 years

B.

18 years

C.

21 years

D.

24 years

Question # 28

The income of any university or other educational institution existing solely for educational purposes and not for the purposes of profit is exempt under clause (iiiad) of Section 10(23C) if the aggregate annual receipts’ of such university or educational institution do not exceed

A.

Rs.100 crores

B.

Rs.1 crore

C.

Rs. 10 crores

D.

Rs. 10 lakhs

Question # 29

In UK, for year 2013-2014, Blind Person’s allowance is ___________ and minimum amount of married couple’s allowance is __________.

A.

£2,610; £3,400

B.

£2,160; £3,040

C.

£2,100; £2,960

D.

£1,980; £2,800

Question # 30

Foreign POA should be got stamped by the Collector after its receipt in India within prescribed time of _________. If a POA is in respect of an immovable property of value more than __________ it must be registered.

A.

6 months; Rs. 100

B.

3 months; Rs. 100

C.

6 months; Rs. 10,000

D.

3 months; Rs. 10,000

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