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

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Question # 65

In case one wants to sell his/her business interest __________ and __________ are not appropriate.

A.

Lifetime Gifts, Bequest

B.

Lifetime Sale, Bequest

C.

Estate Sale, Buy-Sell Agreement

D.

Buy Sell Agreement, Bequest

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Question # 66

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

A.

Only (i)

B.

Only (ii)

C.

Neither (i) or (ii)

D.

Both (i) and (ii)

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Question # 67

A Grantor Trust is never a _________________ Trust.

A.

Revocable Living

B.

Irrevocable

C.

Testamentary

D.

Simple

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Question # 68

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

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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Question # 69

The Gift Tax Act came into force on _________________ and was deleted vide the Finance Act,__________.

A.

1st April 1958;1998

B.

1st April 1958;2008

C.

31st March 1958;1998

D.

31st March 1958;2008

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Question # 70

Which of the following cannot form a Trust?

A.

A Minor

B.

An HUF through its Karta

C.

Both of the above

D.

None of the above

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