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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 # 31

In Singapore, if the tax is not paid by the due date, a ________penalty and _________additional penalty per month. In addition, IRAS may take recovery action.

A.

3%, 1%

B.

10%,2%

C.

5%, 1%

D.

8%,2%

Question # 32

The Indian Succession Act came into operation on ______________________

A.

30th September 1935

B.

30th November 1925

C.

30th September 1925

D.

None of the above

Question # 33

The Inland Revenue Authority of Singapore (IRAS) was established on ___________, by legislation as a statutory board under the Ministry of Finance.

A.

1st September,2002

B.

1st September,1992

C.

21st September,2002

D.

21st September,1992

Question # 34

If the NPV of buy alternative is Positive and the NPV of incremental lease effect is negative then the correct decision is to___________.

A.

Lease the Asset

B.

Buy the Asset

C.

Not use the Asset

D.

If the sum of the two NPV’s is positive, lease otherwise don’t use the asset

Question # 35

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

A.

Only (i)

B.

Only (ii)

C.

Both (i) and (ii)

D.

Neither (i) or (ii)

Question # 36

In UK, the nil rate band for the 2012/2013 tax year is ____________

A.

£250,000

B.

£325,000

C.

£350,000

D.

£225,000

Question # 37

A trust is extinguished

A.

I, II and III

B.

Only I and IV

C.

All of the above

D.

II, III and IV

Question # 38

Which of the following statement(s) is/are False?

A.

Only (i)

B.

Only (ii)

C.

Both

D.

None of the above

Question # 39

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

A.

(i) only

B.

(ii) only

C.

Both (i) & (ii) are correct

D.

Both (i) & (ii) are incorrect

Question # 40

In US, in the case of an individual the tax is ______________ of the lesser of net investment income or the excess of modified adjusted gross income over the threshold amount.

A.

3.8 percent

B.

3.6 percent

C.

4.6 percent

D.

4.8 percent

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