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AAFM AAFM Certification CTEP New Questions

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Question 12

"From the following information of assets assets and liabilities, the taxable wealth for:

Options:

A.

Rs. 1,10,00,000 & Rs. 40,00,000 respectively

B.

Rs. 1,00,00,000 & Rs. 40,00,000 respectively

C.

Rs. 1,10,00,000 & Rs. 50,00,000 respectively

D.

Rs. 70,00,000 & Rs. 40,00,000 respectively

Question 13

What is the full form of QTIP as in “QTIP Trust”?

Options:

A.

Qualifier Terminable Interest Property

B.

Qualified Terminable Interest Property

C.

Qualified Terminable Interest Partition

D.

Qualifier Terminable Interest Partition

Question 14

In US for year 2013, Qualifying child relief is ___________ per child and Handicapped child relief is _____________ per child.

Options:

A.

$4,000; $8,000

B.

$10,000;$12,000

C.

$1,000; $2,000

D.

$4,000; $5,500

Question 15

There are ________________ essential elements of a Lease.

Options:

A.

Two

B.

Three

C.

Five

D.

Six

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Exam Code: CTEP
Exam Name: Chartered Trust & Estate Planner (CTEP) Certification Examination
Last Update: Apr 24, 2024
Questions: 472
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