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Get Certified: Proven Methods to Pass the AAFM CTEP Exam

Questions 101

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

CTEP Question 101

Options:

A.

Both (i) and (ii)

B.

Only (i)

C.

Only (ii)

D.

Neither (i) nor (ii)

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Questions 102

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

CTEP Question 102

Options:

A.

Neither (i) or (ii)

B.

Both (i) and (ii)

C.

Only (i)

D.

Only (ii)

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Questions 103

________________ is a popular mode of transfer of property to God or Almighty, under the Mohammedean Law.

Options:

A.

SheBaitsor Trust

B.

Mutawali Trust

C.

Dedicated Trust

D.

Waqf

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Questions 104

A Diety is entitled to initial exemption of __________________ in respect of its income.

Options:

A.

Rs 1,00,000

B.

Rs 1,50,000

C.

Rs. 2,50,000

D.

None of the above

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Questions 105

Which of the following structure of Unborn Trust is not valid?

Options:

A.

A minor creating Trust for Would-be-Husband

B.

An unmarried person creating trust for Would-be-Mother-in-Law

C.

A married person creating trust for Would-be-Daughter

D.

Both a and b

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Questions 106

For Registration of Charitable Trust an application should be submitted with Covering Letter, Court Stamp of ___________ and Certified True Copy of Trust Deed. The application should be made within _________ of creation of Trust. The application should be in Form as specified in _____________ under ____________ and duly notarized.

Options:

A.

Rs.1, 1 month, Schedule I, Rule 1

B.

Rs.10, 1 month, Schedule II, Rule 1

C.

Rs.2, 3 months, Schedule II, Rule 6

D.

Rs.100, 3 months, Schedule I, Rule 2

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Questions 107

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

CTEP Question 107

Options:

A.

Neither (i) or (ii)

B.

Both (i) and (ii)

C.

Only (i)

D.

Only (ii)

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Questions 108

The application for Registration of Trust has to be made in the prescribed Form No. _______________ to the Chief Commissioner of Income Tax or the Commissioner of Income Tax of the area concerned.

Options:

A.

Form 1A

B.

Form 1B

C.

Form 10A

D.

Form 10B

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Questions 109

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

CTEP Question 109

Options:

A.

Only (i)

B.

Neither (i) or (ii)

C.

Both (i) and (ii)

D.

Only (ii)

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Questions 110

Which of the following is/are ancillary benefit(s) of Discretionary Family Trust?

CTEP Question 110

Options:

A.

All except (i)

B.

All except (ii)

C.

Only (iii)

D.

All of the above

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