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Get Certified: Proven Methods to Pass the AAFM CTEP Exam

Questions 41

______________ is the final stage in the process of 'Money Laundering' at the International Level.

Options:

A.

Integration

B.

Placement

C.

Layering

D.

Transposition

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Questions 42

Manish has two house properties. Both are self occupied. The annual value of:

Options:

A.

Both the house is NIL

B.

One house shall be NIL

C.

No house shall be NIL

D.

Option A with certain condition

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Questions 43

In case of non-resident, who is carrying on shipping business, his Indian income shall be presumed to be:

Options:

A.

5% of certain amount received

B.

7.5% of certain amount received

C.

10% of certain amount received

D.

8.5% of certain amount received

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Questions 44

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

CTEP Question 44

Options:

A.

Only (i)

B.

Only (ii)

C.

Both (i) and (ii)

D.

Neither (i) nor (ii)

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Questions 45

While preparing a Will, the person who is making the Will must declare ________ that he is making the Will in his full senses and free from any kind of pressure. Once the testator completes writing the Will, he must the sign the Will very carefully in presence of at least __________independent witnesses.

Options:

A.

At the end, Two

B.

In the Beginning, Two

C.

At the end, One

D.

In the Beginning, One

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Questions 46

Which of the following statement(s) about ‘Whole Life Insurance’ is/are correct?

CTEP Question 46

Options:

A.

Both (i) and (ii)

B.

Only(i)

C.

Only (ii)

D.

Neither (i) nor (ii)

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Questions 47

________ plan involves only Business assets.

Options:

A.

Financial

B.

Succession

C.

Estate

D.

Contingency

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Questions 48

Estate Tax in India is _______

Options:

A.

Nil

B.

10%

C.

30%

D.

Tax Rate depends on the estate value

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Questions 49

You have just started your Estate Planning firm. Your friend who is into Estate Planning since 5 years explains you that an Ideal Estate Planning Prospect is one who is aged ___ or over and are _______________.

Options:

A.

30, Married with Children

B.

30, Married with no children

C.

35, Married with Children

D.

35, Married with no Children

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Questions 50

There are______ key estate planning strategies to transfer wealth efficiently. In a Granted Retained Annuity Trust, annuity payments are determined in relation to IRS benchmark interest rate called ____________ rate.

Options:

A.

Four, Section 7520

B.

Six, Section 7520

C.

Four. Section 7620

D.

Six, Section 7620

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