AAFM CTEP 問題練習

Question No : 1
A person is deemed to have attained majority on completion of __________________ in case where a guardian of a minor’s property is appointed under the Guardian and Wards Act,1890.

• A.15 years
• B.16 years
• C.18 years
• D.21 years

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Question No : 2
Which of the following statement(s) about Bequest is/are correct?

• A.All except (iv)
• B.All except (iii)
• C.All (i),(ii),(iii) and (iv)
• D.None of (i),(ii),(iii) and (iv)

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Question No : 3
__________ is an influential person who knows you favorably and agrees to introduce or
recommend you to others.

• A.Centre of Influence
• B.Attorney
• C.Commercial Bank Officer
• D.Property Agent

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Question No : 4
What is the ultimate goal of Estate Planning?

• A.To reduce estate taxes to minimum
• B.To fulfill the estate owner’s wishes as closely as possible
• C.Increase the value of client’s assets
• D.Conserve the existing assets of client

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Question No : 5
You are an Estate Planner.
A client gives you the following information (given below in Table).



You are required to make Quick Estimate of Estate’s liquidity. All figures are in Rupees. The estimate in this case is ______________

• A.5,68,000
• B.(5,68,000)
• C.(1,30,000)
• D.1,30,000

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Question No : 6
_____________ allows you to contribute cash but you will not receive tax deduction at the
time of contribution.

• A.Traditional IRA
• B.Roth IRA
• C.SEP-IRA
• D.Simple IRA

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Question No : 7
Estate tax is also called ________

• A.Succession Tax
• B.Voluntary Tax
• C.Involuntary Tax
• D.Transfer Tax

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Question No : 8
A trust involves_______ parties. ___________ is the person who establishes the trust.

• A.Two, Settlor
• B.Three, Settlor
• C.Two, Executor
• D.Three, Executor

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Question No : 9
There are_________steps to implement Philanthropy Planning and the first step is__________.

• A.Three, Gift Design
• B.Three, Discovery
• C.Four, Gift Design
• D.Four, Discovery

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Question No : 10
A High Net Worth Individual (HNI) should hold at least _______ in liquid financial assets.

• A.$1 million
• B.$5 million
• C.$10 million
• D.$50 million

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Question No : 11
As per the Payment of Gratuity Act, the employer shall pay the amount of gratuity within _________.

• A.30 days
• B.45 days
• C.180 days
• D.270 days

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Question No : 12
What does ‘T’ in ‘SWOT’ stands for?

• A.Trends
• B.Time
• C.Threats
• D.Trust

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Question No : 13
_________________ can be used as an alternative to the outright gift and ___________ can be used as an alternative to a traditional short term pledge.

• A.Virtual Endowment Model, Step-Up gift
• B.Virtual Endowment Model, Philanthropic Equity Builder Model
• C.Virtual Endowment Model, Family Foundation
• D.Step-Up Gift, Family Foundation

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Question No : 14
Mr. Raj, the intestate, leaves no brother or sister but leaves his mother and one child of a deceased sister, Mary and two children of a deceased brother, George.
How will the Estate be distributed?

• A.Raj’s Mother will be receive all the Property.
• B.Raj’s Mother will take 50% of the share while remaining 50% will be divided equally between the three children.
• C.Raj’s mother will take one-third, Mary’s child will take one-third and the children of George will divide the remaining one-third equally between them.
• D.Raj’s mother will take 50% of the share and remaining will be divided between George’s children

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Question No : 15
___________ is appropriate for donors who want to see their charitable dollars at work during their lifetimes.

• A.Bequest
• B.Family Foundation
• C.Outright gift
• D.Charitable Remainder Trust

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