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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 # 81

The selling/ planning process has __________ steps.

A.

Four

B.

Five

C.

Seven

D.

Eight

Question # 82

For which of the following stage of Business Cycle a succession plan is not prepared?

A.

Survival

B.

Growth

C.

Maturity

D.

New Growth or Winding Down

Question # 83

Which of the following statement(s) about ‘Kiddie Tax’ is/are correct?

A.

Only (i)

B.

Only (ii)

C.

Neither (i) or (ii)

D.

Both (i) and (ii)

Question # 84

Deduction under section 80QQB is allowed in respect of royalty income to:

A.

an individual who is an author of a book

B.

an individual who is resident in India and who is an author of a book

C.

an individual who is resident in India and who is either an author of a book or a joint author of the book

D.

None of these

Question # 85

In __________, a protective trust is a type of trust that was devised for use in estate planning.

A.

UK

B.

USA

C.

India

D.

None of the above

Question # 86

_____________ of the Income Tax Act, 1961 provides that where a trustee receives or is entitled to receive any income on behalf of or for the benefit of any person under an Oral Trust, tax is to be charged on such income at the maximum marginal rate.

A.

Section 29C

B.

Section 161A

C.

Section 164A

D.

None of the above

Question # 87

If a trust is partner in a firm, the maximum rate of tax applicable is

A.

30%

B.

35%

C.

40%

D.

The provisions of maximum rate of income tax would not apply.

Question # 88

______________ of the Transfer Property Act permits the transfer of property only to one or more living persons.

A.

Section 1

B.

Section 5

C.

Section 8

D.

Section 10

Question # 89

A trust which is created and operating during the Grantors lifetime is called________________

A.

InterVivos Trust

B.

Express Trust

C.

Either of the above

D.

None of the above

Question # 90

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

A.

Only (i)

B.

Only (ii)

C.

Neither (i) or (ii)

D.

Both (i) and (ii)

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