Logo ExamsQA
Exit
Official Bank 0/472

Chartered Trust & Estate Planner (CTEP) Certification Examination (CTEP) - AAFM Exam Questions

Last updated on June 20, 2026

97% Exam Compliance
472 Total Questions
1
Question
Which of the following statement(s) about Precatory Trust is/are correct?

Exhibit
Options
A Neither (i) or (ii)
B Only (i)
C Both (i) and (ii)
D Only (ii)
Discussion (0 comments)

to join the discussion

Community Discussion

No discussions yet. Be the first to ask!

2
Question
From the following information of assets assets and liabilities, the taxable wealth for:

Exhibit
Options
A Rs. 1,10,00,000 & Rs. 50,00,000 respectively
B Rs. 1,10,00,000 & Rs. 40,00,000 respectively
C Rs. 70,00,000 & Rs. 40,00,000 respectively
D Rs. 1,00,00,000 & Rs. 40,00,000 respectively
Discussion (0 comments)

to join the discussion

Community Discussion

No discussions yet. Be the first to ask!

3
Question
In case of self occupied property, higher deduction u/s24(b) for interest on loan for construction can be claimed if borrowing was made
Options
A Before 1/4/99
B After 1/4/99
C On or after 1/9/2004
D on or after 1/4/99
Discussion (0 comments)

to join the discussion

Community Discussion

No discussions yet. Be the first to ask!

4
Question
Foreign maid levy (applicable only to working mothers) is upto ____________ worker concession and ___________ with foreign domestic worker concession.
Options
A $6,360; $4,080
B $4,000; $6,000
C $6000; $4,000
without domestic
D $4,080; $6,360
Discussion (0 comments)

to join the discussion

Community Discussion

No discussions yet. Be the first to ask!

5
Question
As per Section 164(1) a trust for the benefit of an unborn person is liable to income tax at maximum rate of Income Tax, currently_________.
Options
A 50%
B 30%
C Depends on the value of Trust
D 40%
Discussion (0 comments)

to join the discussion

Community Discussion

No discussions yet. Be the first to ask!

Finish Practice?

Are you sure you want to finish? This will end your practice session.