AAFM Chartered Trust & Estate Planner (CTEP) Certification Examination CTEP Dumps in PDF

Free AAFM CTEP Real Questions (page: 12)

A trust involves_______ parties. ___________ is the person who establishes the trust.

  1. Two, Settlor
  2. Three, Settlor
  3. Two, Executor
  4. Three, Executor

Answer(s): B



There are generally________ types of Private Foundations. Out of these, in ____________

arrangement, the donor has no direct participation in any charitable work.

  1. Two, Company-Sponsored Foundation
  2. Three, Non-Operating Foundation
  3. Two, Non-Operating Foundation
  4. Three, Company-Sponsored Foundation

Answer(s): B



While preparing a Will, the person who is making the Will must declare ________ that he is making the Will in his full senses and free from any kind of pressure. Once the testator completes writing the Will, he must the sign the Will very carefully in presence of at least __________independent witnesses.

  1. At the end, Two
  2. In the Beginning, Two
  3. At the end, One
  4. In the Beginning, One

Answer(s): B



In case one wants to sell his/her business interest __________ and __________ are not appropriate.

  1. Lifetime Gifts, Bequest
  2. Lifetime Sale, Bequest
  3. Estate Sale, Buy-Sell Agreement
  4. Buy Sell Agreement, Bequest

Answer(s): A



You are an Estate Planner. Your Client asks you that if he wants to give business to his children which method is not appropriate. He further asks you which method can help him control the size of this gift through his will. Your reply would be___________

  1. Buy-Sell Agreement, Bequest
  2. Bequest, Bequest
  3. Estate Sale, Buy-Sell Agreement
  4. Buy-Sell Agreement, Buy-Sell Agreement

Answer(s): B



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