Chartered Trust & Estate Planner® (CTEP®) Certification Examination (CTEP) Practice Test

Questions # 131:

As per the ESI Act, the monthly wage limit for coverage is _____________ per month.

Options:

Rs. 10,000

Rs. 15,000

Rs. 20,000

Rs. 25,000

Questions # 132:

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

Question # 132

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

Options:

5,68,000

(5,68,000)

(1,30,000)

1,30,000

Questions # 133:

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

Question # 133

Options:

Neither(i) nor (ii)

Only (i)

Only (ii)

Both (i) and (ii)

Questions # 134:

Estate planning as a process includes?

Options:

Accumulation of an estate

Conservation of an estate

Distribution of an estate

All of the above

Questions # 135:

What is the full form of DIN?

Options:

Direct Identity Number

Director Identity Number

Director Identification Number

Direct Identification Number

Questions # 136:

You have just started your Estate Planning firm. Your friend who is into Estate Planning since 5 years explains you that an Ideal Estate Planning Prospect is one who is aged ___ or over and are _______________.

Options:

30, Married with Children

30, Married with no children

35, Married with Children

35, Married with no Children

Questions # 137:

___________ is appropriate for donors who want to see their charitable dollars at work during their lifetimes.

Options:

Bequest

Family Foundation

Outright gift

Charitable Remainder Trust

Questions # 138:

There are______ key estate planning strategies to transfer wealth efficiently. In a Granted Retained Annuity Trust, annuity payments are determined in relation to IRS benchmark interest rate called ____________ rate.

Options:

Four, Section 7520

Six, Section 7520

Four. Section 7620

Six, Section 7620

Questions # 139:

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

Options:

Funeral Expenses

Master’s fees

Estate duty

All of the above

Questions # 140:

Estate tax is also called ________

Options:

Succession Tax

Voluntary Tax

Involuntary Tax

Transfer Tax

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