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CTEP
Chartered Trust & Estate Planner® (CTEP®) Certification Examination Questions and Answers

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345 Students Passed

92% Average Score

97% Same Questions

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Questions # 1:

______________ is the final stage in the process of 'Money Laundering' at the International Level.

Options:

Integration

Placement

Layering

Transposition

Answer

Questions # 2:

In_________ type of arrangement, the mortgagor binds himself to repay the mortgage money on a certain date.

Options:

Simple Mortgage

English Mortgage

Usufructuary Mortgage

Balloon Mortgage

Answer

Questions # 3:

For claiming exemption u/s 54G, the assessed shall acquire the new asset within:

Options:

2 years from the date of transfer

3 years from the date of transfer

one year before or 2 years after the date of transfer

one year before or 3 years from the date of transfer

Answer

Questions # 4:

In context to Hindu Marriage Act, 1955 what is “Sapinda Relationship”?

Options:

It is with reference to any person extends as far as the third generation (inclusive) in the line of ascent through the mother and, the fifth (inclusive) in the line of ascent through the father.

It is with reference to any person extends as far as the third generation (inclusive) in the line of ascent through the father and, the fifth (inclusive) in the line of ascent through the mother.

It is with reference to any person extends as far as the second generation (inclusive) in the line of ascent through the mother and, the third (inclusive) in the line of ascent through the father.

It is with reference to any person extends as far as the second generation (inclusive) in the line of ascent through the father and, the third (inclusive) in the line of ascent through the mother.

Answer

Questions # 5:

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

Question # 5

Options:

All (i),(ii),(iii) and (iv)

Only (ii) and (iv)

All except (iv)

All except (i)

Answer

Questions # 6:

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

Question # 6

Options:

Only (i)

Only (ii)

Neither (i) nor (ii)

Both (i) and (ii)

Answer

Questions # 7:

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.

Options:

182

120

Answer

Questions # 8:

Find out the taxable value of perquisite from the following particulars in case of an employee to whom the following assets held by the company were sold on 1.8.2012.

Question # 8

The assets were put to use by the company from the day they were purchased.

Options:

Rs. 82,170

Rs. 92,850

Rs. 48,800

Rs. 53,000

Answer

Questions # 9:

Mr. Dinesh is transferred to Delhi and is paid a shifting allowance of Rs.20,000 by his employers out of which he spends Rs.18,000 for shifting his family and personal effects. Which of the following is true?