AAFM CTEP 問題集

質問 1：
According to ___________ of the Registration Act, 1908 the registration of a Will is not compulsory. A suit can only be filed within ___________days after the refusal of registration by the Registrar. An oral will made by a soldier above 18 years of age will be valid for __________ while a written will be valid for ___________.
A. Section 18, 30, One month, Forever
B. Section 8, 30, One Month, Forever
C. Section 18,15,One Month, Three Months
D. Section 8, 15, One Month, Forever
正解：A

質問 2：
Your client, a businessman has a house worth Rs. 2.1 crore and a farm house worth Rs. 85 lakh. His business is worth Rs. 10 crore as per last balance sheet. He has two other partners in the business having stakes of 24% each. He has two cars purchased at Rs. 40 lakh and Rs. 20 lakh, the latter being in personal account. The cars have depreciated/market value at Rs. 30 lakh and Rs. 8 lakh respectively. His joint Demat account, wife being primary holder, has stocks worthRs. 1.65 crore. The business has taken Keymans insurance on his life of value Rs. 1.5 crore. He has himself insured his life for an assured sum of Rs. 1.5 crore. You evaluate your client's estate in case of any exigency with his life as _____.
A. Rs. 5.73 crore
B. Rs. 10.51 crore
C. Rs. 9.56 crore
D. Rs. 8.20 crore
正解：B

質問 3：
Mr. Sumit is an employee of Genesis Ltd. His basic pay is Rs.24,000 p.a., Dearness Allowance Rs.12,000 p.a; Medical Allowance (fixed) Rs.10,000 p.a.; Conveyance Allowance Rs.6,000 p.a.; Professional Tax deducted from his salary Rs.1,000 p.a.; Free lunch provided during office hours valued at Rs.12,000 for a 300-working day year; free education for two children in a school owned and maintained by the employer - school tuition fee for both the children is estimated at Rs.18,000 p.a.
What is Net Income of Mr. Sumit and examine whether he is a specified or non-specified employee?
A. Rs. 48,000;Specified Employee
B. Rs. 57,000;Non Specified Employee
C. Rs. 50,000 ;Non Specified Employee
D. Rs. 51,000; Specified Employee
正解：D

質問 4：
According to ________________ of the Indian Trusts Act, a Trust may be created for any lawful purpose.
A. Section 4
B. Section 2
C. Section 1
D. Section 3
正解：A

質問 5：
You are an estate planner. A couple has jointly owned company. They have three children out of which one is disabled. As an estate planner, which Estate planning would you suggest to the couple, so as to enable them to transfer wealth efficiently to their children.
A. Grantor Retained Annuity Trust
B. Family Limited Partnership
C. Buy Sell Agreement
D. Life Insurance Policy
正解：C

質問 6：
In context to Hindu Marriage Act, 1955 what is "Sapinda Relationship"?
A. It is with reference to any person extends as far as the third generation (inclusive) in the line of ascent through the mother and, the fifth (inclusive) in the line of ascent through the father.
B. It is with reference to any person extends as far as the second generation (inclusive) in the line of ascent through the father and, the third (inclusive) in the line of ascent through the mother.
C. It is with reference to any person extends as far as the second generation (inclusive) in the line of ascent through the mother and, the third (inclusive) in the line of ascent through the father.
D. It is with reference to any person extends as far as the third generation (inclusive) in the line of ascent through the father and, the fifth (inclusive) in the line of ascent through the mother.
正解：A

質問 7：
As per Workmen's Compensation Act, in case there is default in paying compensation.

A. Neither (i) nor (ii)
B. Only (ii)
C. Only (i)
D. Both (i) and (ii)
正解：A

質問 8：
A _______________ is written in the Will-maker's own handwriting.
A. Holographic Will
B. Simple Will
C. Mirror Will
D. Nuncupative Will
正解：A

質問 9：
Which of the following statement(s) about Hindu Adoption and Maintenance Act, 1956 is/are correct?

A. Neither (i) nor (ii)
B. Only (ii)
C. Only (i)
D. Both (i) and (ii)
正解：B