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Questions 71

Which of the following statement(s) about Power of Attorney (POA) is/are correct?

CTEP Question 71

Options:

A.

Only (i)

B.

Only (ii)

C.

Both (i) and (ii)

D.

Neither (i) or (ii)

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Questions 72

Section 45 of the Insurance Act,1938 places a check on the power of insurer to avoid life policy on the ground of innocent misrepresentation after the expiry of ____________ of the policy term

Options:

A.

Six month

B.

One year

C.

Two years

D.

Five years

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Questions 73

According to ___________ of the Registration Act, 1908 the registration of a Will is not compulsory. A suit can only be filed within ___________days after the refusal of registration by the Registrar. An oral will made by a soldier above 18 years of age will be valid for __________ while a written will be valid for ___________.

Options:

A.

Section 18, 30, One month, Forever

B.

Section 18,15,One Month, Three Months

C.

Section 8, 15, One Month, Forever

D.

Section 8, 30, One Month, Forever

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Questions 74

Which of the following statement(s) about Ancillary Probate is/are false?

CTEP Question 74

Options:

A.

Only (i)

B.

Only (ii)

C.

Both (i) and (ii)

D.

Neither (i) nor (ii)

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Questions 75

Which of the following events does not require a Estate Planner to revise his plan?

Options:

A.

Divorce

B.

Donation of Asset

C.

Birth of grandchildren

D.

None of the above

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Questions 76

A__________ can bring significant gift and estate tax savings.

Options:

A.

Granted Retained Annuity Trust

B.

Family Limited Partnership

C.

Intentionally Defective Grantor Trust

D.

Buy and Sell Agreement

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Questions 77

Full form of IRA is_____________

Options:

A.

Individual Revocable Account

B.

Individual Retirement Arrangement

C.

Individual Retirement Attorney

D.

Individual Retirement Aggregation

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Questions 78

There are ____________ sources of Law.

Options:

A.

Two

B.

Three

C.

Four

D.

Infinite

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Questions 79

In context to Workmen’s Compensation Act, any claim for the compensation should be made within _________ of the occurrence of the accident or from the date of death.

Options:

A.

6 months

B.

10 months

C.

1 year

D.

2 years

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Questions 80

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

CTEP Question 80

Options:

A.

Only (i)

B.

Both (i) and (iv)

C.

(i),(ii),(iii) and (iv)

D.

(i),(iii) and (iv)

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