CTEP exam

There are __________types of Insurance policies which are used in Estate Planning.A . TwoB . ThreeC . FourD . No limit on the types of Insurance PoliciesView AnswerAnswer: A

Which of the following statement(s) about Public Trust is/are correct? A . Only (i)B . Only (ii)C . Both (i) and (ii)D . Neither (i) nor (ii)View AnswerAnswer: B

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 termA . Six monthB . One yearC . Two yearsD . Five yearsView AnswerAnswer: C

Wills executed according to __________ of the _____________ are called Unprivileged Wills.A . Section 8, Hindu Succession Act 1956B . Section 63, Indian Succession Act 1925C . Section 8, Indian Succession Act 1925D . Section 63, Hindu Succession Act 1956View AnswerAnswer: B

Which of the following statement(s) about Estate Planning is/are true? A . Neither (i) nor (ii)B . Both (i) and (ii)C . Only(i)D . Only (ii)View AnswerAnswer: B

As per Payment of Gratuity Act, Gratuity shall be payable to an employee after he has rendered continuous service for not less than __________A . 2 yearsB . 5 yearsC . 10 yearsD . 15 yearsView AnswerAnswer: B

According to__________ of the ‘Registration Act, 1908’ the registration of a Will is not compulsory.A . Section 8B . Section 48C . Section 1D . Section 6View AnswerAnswer: A

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...

For which of the following stage of Business Cycle a succession plan is not prepared?A . SurvivalB . GrowthC . MaturityD . New Growth or Winding DownView AnswerAnswer: D

The selling/ planning process has __________ steps.A . FourB . FiveC . SevenD . EightView AnswerAnswer: D