Chartered Trust & Estate Planner (CTEP) Certification Examination (CTEP) - AAFM Actual Exam Questions
Last updated on April 11, 2026
If the NPV of buy alternative is Positive and the NPV of incremental lease effect is negative then the correct decision is to___________.
Lease the Asset
Buy the Asset
Not use the Asset
If the sum of the two NPV’s is positive, lease otherwise don’t use the asset
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A trust involves_______ parties. ___________ is the person who establishes the trust.
Two, Settlor
Three, Settlor
Two, Executor
Three, Executor
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______________ of Income Tax Act,1961 provides for the Registration of a Charitable Trust.
Section 12A
Section 13A
Section 64A
Section 65A
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Mukul purchased a flat on 1-4-1996 for Rs. 10,00,000/-. He sells the same flat on 1-10-2006 for Rs. 25,00,000/-. Please calculate the Indexed Cost of Acquisition on which capital gain would be calculated. (The CII of year 1995-96 is 281, for year 1996-97 is 305, for year 2005-06 is 497 and for year 2006-07 is 519).
Rs.17,85,129
Rs.17,26,175
Rs. 17,01,639
Rs.17,45,508
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______________ of the Hindu Succession Act,1956 groups the heirs of a male intestate into four groups and lays down that the property first devolves upon the heirs of Class I of the Schedule.
Section 1
Section 8
Section 12
Section 9
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