AAFM CTEP Chartered Trust & Estate Planner® (CTEP®) Certification Examination Online Training
AAFM CTEP Online Training
The questions for CTEP were last updated at Apr 22,2025.
- Exam Code: CTEP
- Exam Name: Chartered Trust & Estate Planner® (CTEP®) Certification Examination
- Certification Provider: AAFM
- Latest update: Apr 22,2025
Charity tends to be ________ and _________ response.
- A . Short term, Strategic
- B . Long Term, Emotional
- C . Short Term, Emotional
- D . Long Term, Strategic
Incase of Policies issued by the LIC, _______________ days of grace are allowed for monthly premiums.
- A . 7 days
- B . 10 days
- C . 15 days
- D . 20 days
What is the full form of DIN?
- A . Direct Identity Number
- B . Director Identity Number
- C . Director Identification Number
- D . Direct Identification Number
There are ______types of Charitable Trust. Out of these, in ________________ the value of assets are protected against inflation as the payouts vary with the asset value.
- A . Two, Charitable Remainder Unit Trust
- B . Two, Charitable Remainder Annuity Trust
- C . Three, Charitable Remainder Unit Trust
- D . Three, Charitable Remainder Annuity Trust
_________ is the most appropriate method for donors who prefer to make gifts at the end of their life and _________ is the most appropriate method for donors who prefer to give gifts during their lifetime.
- A . Bequest and Outright Gift
- B . Outright Gift and Bequest
- C . Family Foundation and Life Income Gifts
- D . Life Income Gifts and Family Foundation
Public Limited Companies have a minimum paid up capital of ______________ or such higher capital as may be prescribed.
- A . Rs 1,00,000
- B . Rs.3,00,000
- C . Rs.5,00,000
- D . Rs10,00,000
With reference to Business Succession Planning, ____________ protects the value of the business.
- A . Business Valuator
- B . Private Banker
- C . Insurance Professional
- D . Business Banker
There are four general categories of charitable gifts for donors and non-profits to consider. Out of these________ and ____________ require no contracts, trusts, trustees or special income tax returns. On the other hand, for __________ and _____________most donors and non-profits will need significant level of financial sophistication.
- A . Outright Gifts, Bequest, Life Income Gifts, Family Foundations
- B . Outright Gifts, Life Income Gifts, Bequest, Family Foundations
- C . Family Foundation, Bequest, Life Income Gifts, Outright Gifts
- D . Family Foundation, Outright Gifts, Life Income Gifts, Bequest
You are an Estate Planner. A client asks you to explain him the process of Probate. You explain him that Probate is one of the ways to pass ownership of estate property to a decedent’s survivors. The client further asks you to outline the various steps of Probate.
As an estate planner, you would outline the steps of probate as follows (please specify the correct order)
- A . (i)-(ii)-(iii)-(iv)
- B . (ii)-(iii)-(i)-(iv)
- C . (i)-(iii)-(ii)-(iv)
- D . (iii)-(i)-(ii)-(iv)
There are__________ methods of Business valuation.Out of these methods,___________ method applies discount rate to determine the valuation of the business.
- A . Two, Discounted Cash Flow
- B . Three, Discounted Cash Flow
- C . Two, Income method
- D . Three, Income method
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