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AAFM CTEP Exam
Chartered Trust & Estate Planner (CTEP) Certification Examination (Page 12 )

Updated On: 7-Feb-2026
Page 12 of 96
PDF with 472 Questions

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.

  1. Life Insurance Policy
  2. Buy Sell Agreement
  3. Family Limited Partnership
  4. Grantor Retained Annuity Trust

Answer(s): B



_________ is the most appropriate method for donors who prefer to make gifts at the end of their life and _________ is the most appropriate method for donors who prefer to give gifts during their lifetime.

  1. Bequest and Outright Gift
  2. Outright Gift and Bequest
  3. Family Foundation and Life Income Gifts
  4. Life Income Gifts and Family Foundation

Answer(s): A



Which of the following is/are objective(s) of Probate process?

  1. (i) and (ii)
  2. (iI) and (iii)
  3. (i),(ii) and (iii)
  4. (i) and (iii)

Answer(s): C



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

  1. Neither of the (ii)
  2. Only (i)
  3. Only (ii)
  4. Both (i) and (ii)

Answer(s): D



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

  1. Virtual Endowment Model, Step-Up gift
  2. Virtual Endowment Model, Philanthropic Equity Builder Model
  3. Virtual Endowment Model, Family Foundation
  4. Step-Up Gift, Family Foundation

Answer(s): B






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