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Question 36

_____________ allows you to contribute cash but you will not receive tax deduction at the time of contribution.

Options:

A.

Traditional IRA

B.

Roth IRA

C.

SEP-IRA

D.

Simple IRA

Question 37

A trust created under the Married Woman Property Act, is an example of ________________.

Options:

A.

Express Trust

B.

Dynasty Trust

C.

Constructive Trust

D.

Implied Trust

Question 38

Which of the following is/are disadvantage(s) of Trust?

Options:

A.

Only (i)

B.

Only (ii)

C.

Neither (i) or (ii)

D.

Both (i) and (ii)

Question 39

Which of the following statement(s) about Uniform Gifts to Minor Act (UGMA) is/are correct?

Options:

A.

Neither (i) or (ii)

B.

Both (i) and (ii)

C.

Only (i)

D.

Only (ii)

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Exam Code: CTEP
Exam Name: Chartered Trust & Estate Planner (CTEP) Certification Examination
Last Update: Apr 18, 2024
Questions: 472
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