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All CTEP Test Inside AAFM Questions

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Question 52

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

Options:

A.

Neither (i) or (ii)

B.

Both (i) and (ii)

C.

Only (i)

D.

Only (ii)

Question 53

A Discretionary Family Trust is one of the most common small business structures in _____________. It can operate upto ____________ in the same.

Options:

A.

India, 100 years

B.

Gujarat, 80 years

C.

USA, 100 years

D.

Australia, 80 years

Question 54

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

Options:

A.

Both (i) and (iii)

B.

All of the above

C.

All except (ii)

D.

Both (ii) and (iv)

Question 55

Mr. Syelwester Andrews, a Resident Indian, has income derived from rubber plantation in Malaysia. It shall be treated as:

Options:

A.

Agricultural income and hence exempt

B.

Agricultural income but taxable under the head Income from Other Sources

C.

Exempt as earned outside India

D.

Taxable in Malaysia

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Exam Code: CTEP
Exam Name: Chartered Trust & Estate Planner® (CTEP®) Certification Examination
Last Update: Dec 22, 2024
Questions: 472
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