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CTEP Exam Dumps : Chartered Trust & Estate Planner® (CTEP®) Certification Examination

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Chartered Trust & Estate Planner® (CTEP®) Certification Examination Questions and Answers

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Question 1

Which of the following statement(s) about Private Trust is/are correct?

Options:

A.

Only (i)

B.

Only (ii)

C.

Both (i) and (ii)

D.

Neither (i) or (ii)

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Question 2

A person can create _________________ living trust/trusts while he is alive and the assets can be transferred to it/them as desired by the person.

Options:

A.

Only One

B.

One or more

C.

Maximum two

D.

Any Number Of

Question 3

Choose the amount of final tax liability of Mr. Raj for the assessment year 2007-08:

Tax slab for male / HUF(for AY 2007-08)

Rs. 0 to 100000 — No Income Tax

Rs. 1,00,001 to 1,50,000 — 10%

Rs. 150001 to 2,50,000 — 20%

Rs. 2,50,001 and above — 30%

Note: A surcharge of 10% on income tax amount is payable if total income is exceeding Rs. 10,00,000 and a 2% education cess is payable on the income tax amount and surcharge.

Options:

A.

Rs.17,100

B.

Rs.17,442

C.

Rs.15,700

D.

Rs.16,014

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