Pass the AAFM AAFM Certification CTEP Questions and answers with CertsForce

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Viewing questions 61-70 out of questions
Questions # 61:

Which of the following comes under Non-Financial Goals of Estate Planning?

Question # 61

Options:

A.

Both (i) and (ii)


B.

Both (ii) and (iii)


C.

Only (ii)


D.

Only (iii)


Expert Solution
Questions # 62:

You are an Estate Planner. A client gives you the following information (given below in Table).

Question # 62

You are required to make Quick Estimate of Estate’s liquidity. All figures are in Rupees. The estimate in this case is ______________

Options:

A.

5,68,000


B.

(5,68,000)


C.

(1,30,000)


D.

1,30,000


Expert Solution
Questions # 63:

The maximum gratuity payable as per Payment of Gratuity Act is __________.

Options:

A.

Rs. 2,50,000


B.

Rs.3,00,000


C.

Rs. 10,00,000


D.

Rs.4,00,000


Expert Solution
Questions # 64:

Which of the following statement(s) about Estate Planning is/are true?

Question # 64

Options:

A.

Neither (i) nor (ii)


B.

Both (i) and (ii)


C.

Only(i)


D.

Only (ii)


Expert Solution
Questions # 65:

A High Net Worth Individual (HNI) should hold at least _______ in liquid financial assets.

Options:

A.

$1 million


B.

$5 million


C.

$10 million


D.

$50 million


Expert Solution
Questions # 66:

_________________ can be used as an alternative to the outright gift and ___________ can be used as an alternative to a traditional short term pledge.

Options:

A.

Virtual Endowment Model, Step-Up gift


B.

Virtual Endowment Model, Philanthropic Equity Builder Model


C.

Virtual Endowment Model, Family Foundation


D.

Step-Up Gift, Family Foundation


Expert Solution
Questions # 67:

Which of the following statement(s) about Bequest is/are correct?

Question # 67

Options:

A.

All except (iv)


B.

All except (iii)


C.

All (i),(ii),(iii) and (iv)


D.

None of (i),(ii),(iii) and (iv)


Expert Solution
Questions # 68:

Which of the following statement(s) about ‘Whole Life Insurance’ is/are correct?

Question # 68

Options:

A.

Both (i) and (ii)


B.

Only(i)


C.

Only (ii)


D.

Neither (i) nor (ii)


Expert Solution
Questions # 69:

Estate planning as a process includes?

Options:

A.

Accumulation of an estate


B.

Conservation of an estate


C.

Distribution of an estate


D.

All of the above


Expert Solution
Questions # 70:

There are _________________ Non-Formal Sources of Law.

Options:

A.

One


B.

Two


C.

Three


D.

Infinite


Expert Solution
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