CTEP Exam Dumps - Chartered Trust & Estate Planner® (CTEP®) Certification Examination
__________________ is used to show what Inheritance tax is due when someone has died and _________________ is used to show what Inheritance tax is due from lifetime events.
______________ is the final stage in the process of 'Money Laundering' at the International Level.
Which of the following is allowed as deduction from net annual value of a property?
According to ________________ of the Indian Trusts Act, a Trust may be created for any lawful purpose.
Competency to contract has been defined under ____________ of the Indian Contract Act,___________
As per Payment of Gratuity Act, Employees are entitled to ___________ terminal wages as gratuity for each year of completed service or part thereof in excess of 6 months. Seasonal employees are entitled to __________ terminal salary for each season of service.
Which of the following statement(s) about Money Laundering is/are correct?
A Diety is entitled to initial exemption of __________________ in respect of its income.
The accounts of the Trust should be audited where the income (including corpus donations) exceeds ______________. One of the essential condition for obtaining exemption of the income of a Charitable Trust is that at least _______ of the income should be applied to charitable purposes in India.
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.
_____________ 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 Discretionary Family Trust is one of the most common small business structures in _____________. It can operate upto ____________ in the same.
A member is defined under ___________ of the Societies Registration Act and a Governing body is defined under_______________ of the Societies Registration Act.
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.
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.
X furnishes the following particulars for the compilation of his wealth-tax return for assessment year 2012-13.
Calculate the amount on which Wealth Tax is Payable.
Tax rate on foreign sourced income in Singapore is ____ to _______ subject to conditions.
During the PY 2008-09 a charitable trust earned an income of Rs. 5 lakh out of which Rs. 3 lakh was received during the PY 2008-09 and the balance Rs. 2 lakh was received during the PY 2010-2011.To claim full exemption of Rs. 5 lakh in the PY 2008-09, state:
Under the provisions of _________of the Hindu Succession Act, 1956 where a Hindu male dies intestate on or after __________, having at the time of his death an interest in a Mitakshara coparcenary property leaving behind a female heir of the Class I category, then his interest in the coparcenary property shall devolve by succession under that Act and not by survivorship.
Under ___________ of Income Tax Act,1961, partial partitions will not be recognized for tax purposes.
In US for year 2013, Grandparent care giver relief is ___________ and Course fee relief is __________.
Mr. Shikar wants to invest his savings in an account that pays an interest rate of 9.25% p.a. compounded annually at different ages of his son whose current age is 4 years. Please calculate for him the Future Value of these investments when his son turns 18.
For tax year 2013, AMT rate is _______ up to $175,000 of Alternative Minimum Taxable Income (AMTI).
The Hindu Succession (Amendment Act),2005 amended ____________ of the Hindu Succession Act,1956 allowing daughters of the deceased equal rights with the sons.
In case of __________ trust there is no Inheritance Tax if the settlor survives for _________ years.
Which of the following device(s) may prove useful in reducing the tax incidence in the case of HUF?
In US for year 2013, Qualifying child relief is ___________ per child and Handicapped child relief is _____________ per child.
Which of the following option illustrates an advantage of the probate process?
The goals of Estate Planning can be broadly divided into_______ categories.
As per Payment of Gratuity Act, Gratuity shall be payable to an employee after he has rendered continuous service for not less than __________
Which of the following statement(s) about Halal Credit Cards is/are correct?
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 ______________
There are __________ types of Insurance policies which are used in Estate Planning.
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.
_________________ can be used as an alternative to the outright gift and ___________ can be used as an alternative to a traditional short term pledge.
With reference to Business Succession Planning, ____________ protects the value of the business.
Which of the following statement(s) about Socities Registration Act is/are correct?
Estate Planning Process is eight-step procedure that a manager has to follow. The Eight Steps are as given below (not in any order)
The correct order is
Which of the following comes under Non-Financial Goals of Estate Planning?
______________ does not divest the policy holder of his rights in the policy and he retains disposing power over it.
In case one wants to sell his/her business interest __________ and __________ are not appropriate.
The Gift Tax Act came into force on _________________ and was deleted vide the Finance Act,__________.