Free CTEP Practice Test Questions and Answers (2026)

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Q: 1
A client has a minor child she is concerned about what might happen if she was to die, while the child was still young and unable to sensibly handle a sizeable inheritance, one solution could be to draft her will so that the child receives the asset once reaching age 21 this is an example of
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Q: 2
Estate planning has_____ phases.
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Q: 3
A Discretionary Trust can be formed for the benefit of ________________________
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Q: 4
In __________, a protective trust is a type of trust that was devised for use in estate planning.
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Q: 5
Estate Tax in India is _______
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Q: 6
Which of the following structure of Unborn Trust is not valid?
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Q: 7
____________ means excess, increase or addition according to Sharia’ah Terminology. Bahrain has over _________ financial institutions with a wide range of activities including Islamic Insurance.
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Q: 8
High Net Worth Individuals can dispose of their money in______ ways. From the standpoint of the wealth holder,__________ is the most important of all.
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Q: 9
Which of the following statement(s) about “Special Needs Trust” is/are correct? AAFM CTEP question
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Q: 10
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.
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Q: 11
There are generally________ types of Private Foundations. Out of these, in ____________ arrangement, the donor has no direct participation in any charitable work.
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Q: 12
X furnishes the following particulars for the compilation of his wealth-tax return for assessment year 2012-13. AAFM CTEP question Calculate the amount on which Wealth Tax is Payable.
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Q: 13
______________ of Income Tax Act,1961 provides for the Registration of a Charitable Trust.
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Q: 14
There are __________ types of Insurance policies which are used in Estate Planning.
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Q: 15
Which is not the condition for getting superannuation fund approved?
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Q: 16
More than_______ in wealth classifies the person as “Ultra HNI”
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Q: 17
____________ is the most basic legal instrument of all Estate Plans.
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Q: 18
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___________
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Q: 19
Failure to create an Estate Plan leads to __________ AAFM CTEP question
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Q: 20
As per Muslim Law, if the husband is missing for _________ the wife may file a petition for the dissolution of her marriage. __________ of Dissolution of Muslim Marriages Act provides that that where a wife files petition for divorce under this ground, she is required to give the names and addresses of all persons who would have been the legal heirs of the husband on his death.
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