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

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Question # 49

Which of the following about “Succession Plan” is/are true?

A.

Neither(i) nor (ii)

B.

Only (i)

C.

Only (ii)

D.

Both (i) and (ii)

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Question # 50

Which of the following statement(s) about Halal Credit Cards is/are correct?

A.

Both (i) and (ii)

B.

Neither (i) nor (ii)

C.

Only (i)

D.

Only (ii)

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Question # 51

You are an Estate Planner. A client gives you the following information (given below in Table).

You are required to make Quick Estimate of Estate’s liquidity. All figures are in Rupees. The estimate in this case is ______________

A.

5,68,000

B.

(5,68,000)

C.

(1,30,000)

D.

1,30,000

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Question # 52

There are __________ types of Insurance policies which are used in Estate Planning.

A.

Two

B.

Three

C.

Four

D.

No limit on the types of Insurance Policies

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Question # 53

Dinesh is entitled to a basic salary of Rs. 5,000 p.m. and dearness allowance of Rs. 1,000 per month, 40% of which forms the part of the retirement benefits. He is also entitled to HRA of Rs. 2,000 per month. He actually pays Rs. 2,000 per month as rent for a house in Delhi. Compute the taxable HRA.

A.

Rs. 17,520

B.

Rs. 32,400

C.

Rs. 18,000

D.

Rs. 24,000

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Question # 54

Which is the following is a part of Executor’s fees?

A.

Funeral Expenses

B.

Master’s fees

C.

Estate duty

D.

All of the above

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Question # 55

_________________ can be used as an alternative to the outright gift and ___________ can be used as an alternative to a traditional short term pledge.

A.

Virtual Endowment Model, Step-Up gift

B.

Virtual Endowment Model, Philanthropic Equity Builder Model

C.

Virtual Endowment Model, Family Foundation

D.

Step-Up Gift, Family Foundation

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Question # 56

The selling/ planning process has __________ steps.

A.

Four

B.

Five

C.

Seven

D.

Eight

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