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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 # 41

A Diety is entitled to initial exemption of __________________ in respect of its income.

A.

Rs 1,00,000

B.

Rs 1,50,000

C.

Rs. 2,50,000

D.

None of the above

Question # 42

Under provisions of _________________ it is provided that the profits and gains of business of a private trust is chargeable to income tax at the maximum marginal rate with effect from Assessment Year 1985-1986.

A.

Section 161 (4A)

B.

Section 164 (4A)

C.

Section 161 (1A)

D.

Section 164 (1A)

Question # 43

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

A.

Both (i) and (ii)

B.

Only (i)

C.

Only (ii)

D.

Neither (i) nor (ii)

Question # 44

What is the full form of SBT?

A.

Special Beneficiary Trust

B.

Special Benefactor Trust

C.

Single Beneficiary Trust

D.

Single Benefactor Trust

Question # 45

Which of the following statement(s) about Uniform Gifts to Minor Act (UGMA) is/are correct?

A.

Neither (i) or (ii)

B.

Both (i) and (ii)

C.

Only (i)

D.

Only (ii)

Question # 46

____________ lease is typical for business institutions and organizations whose operations rely on a seasonal schedule. ______________ is an option often taken by new businesses which have no credit history.

A.

Financial Lease, Sub- lease

B.

Operating Lease, Financial Lease

C.

Skip Lease, Tax Lease

D.

Skip Lease, Pre-paid Purchase Lease

Question # 47

Tax rate on foreign sourced income in Singapore is ____ to _______ subject to conditions.

A.

0%,17%

B.

5%,20%

C.

5%,17%

D.

0%,20%

Question # 48

A Family consists of karta, his wife, four sons and their wives and children and their income is Rs. 1000000.If by family arrangement income and yield on property is settled on karta, his wife, sons & daughter in law than tax liability would be

A.

Nil

B.

100000

C.

Calculated as per income tax Act 1961

D.

None of the above

Question # 49

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

A.

(i) only

B.

(ii) only

C.

Both are incorrect

D.

None of the above

Question # 50

Compute Gross Total income and amount of loss allowed to be carried forward to next year:

A.

Rs. 34,000; Rs. 10,000

B.

Rs. 40,000; Rs. 10,000

C.

Rs. 40,000; Nil

D.

Rs. 40,000; Rs.10,000

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