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CTEP Exam Dumps - Chartered Trust & Estate Planner® (CTEP®) Certification Examination

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Question # 17

As per the Societies Registration Act, no society shall be dissolved unless ______________ of the members shall have expressed a wish for their votes delivered in person or by proxy, at a general meeting convened for the purpose.

A.

One-third

B.

Two-Thirds

C.

Two-fifths

D.

Three-Fifths

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Question # 18

_____________ 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

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Question # 19

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

A.

Both (i) and (ii)

B.

Only (i)

C.

Only (ii)

D.

Neither (i) nor (ii)

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Question # 20

A Discretionary Family Trust is one of the most common small business structures in _____________. It can operate upto ____________ in the same.

A.

India, 100 years

B.

Gujarat, 80 years

C.

USA, 100 years

D.

Australia, 80 years

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Question # 21

A member is defined under ___________ of the Societies Registration Act and a Governing body is defined under_______________ of the Societies Registration Act.

A.

Section 15, Section 16

B.

Section 17,Section 18

C.

Section 19,Section 20

D.

Section 29,Section 30

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Question # 22

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

A.

Only (i)

B.

Only (ii)

C.

Neither (i) or (ii)

D.

Both (i) and (ii)

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Question # 23

Any income chargeable under the head “Salaries” is exempt from tax under Section 10(6)(viii), if it is received by any non resident individual as remuneration for services rendered in connection with his employment in a foreign ship where his total stay in India does not exceed a period days in that previous year.

A.

90

B.

182

C.

60

D.

120

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Question # 24

In ____________ the parties have the right to withdraw from the contract as long as the parties do not leave the place of contract. In___________ the buyer could cancel the sale if the seller has sold the goods at price higher than the market price.

A.

Khiyar al Royat, Khiyar al Wasf

B.

Khiyar al Tayin, Khiyar al Shart

C.

Khiyar al Aib, Khiyar-e-Naqad

D.

Khiyar-e-Majlis, Khiyar al Ghabn

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