AAFM Chartered Trust & Estate Planner (CTEP) Certification Examination - CTEP Exam Practice Test
A Hindu coparcenary consists of a common male ancestor and his linear descendants in the male line within _______ degrees. ___________ is the state in which HUF is not recognized.
Correct Answer: C
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______________ means a contract in which advance payment is made for good to be delivered later on. ____________ is a special kind of partnership where one partner gives money to the other for investing it in a commercial enterprise.
Correct Answer: A
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_________ means the amount of _________or its equivalent value in money payable under the Muslim law annually by a Muslim during the month of Ramadan to be used for religious or charitable purposes recognized by the Muslim law.
Correct Answer: D
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Which of the following is/are difference between Dayabhaga HUF and Mitakshara HUF?
Correct Answer: D
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Which of the following cannot give a Power of Attorney?
Correct Answer: A
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Which of the following statement(s) about Estate duty is/are correct?
Correct Answer: D
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In case where the Filling Status is single, phase-out begin range is ____________ (as in 2013).
Correct Answer: B
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Which of the following structure of Unborn Trust is not valid?
Correct Answer: A
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Which of the following statement(s) about Muta Marriage is/are correct?
Correct Answer: C
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The employer had purchased a car for Rs. 3,00,000 which was being used for official purposes. After 2 year 6 months of its use, the car is sold to R, the employee, for Rs. 1,20,000. The value of this perquisite shall be __________.
Correct Answer: B
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