Overview

Sample Questions: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 ___________.Section 18, 30, One month, ForeverSection 18,15,One Month, Three MonthsSection 8, 15, One Month, ForeverSection 8, 30, One Month, ForeverYou are an Estate Planner. Mr. Arun Mittal, a HNI client asks you to explain him the number of ways to dispose of his wealth. You explain to him about the three ways of disposing wealth. He further asks you to give ranking to the methods-from most preferred to least preferred. You tell Mr. Arun that the correct order is _________________.Consumption, Inheritance, PhilanthropyInheritance, Consumption, PhilanthropyPhilanthropy, Inheritance, ConsumptionNone as he can dispose his wealth in any order.Mr. Raj, the intestate, leaves no brother or sister but leaves his mother and one child of a deceased sister, Mary and two children of a deceased brother, George. How will the Estate be distributed?Raj's Mother will be receive all the Property.Raj's Mother will take 50% of the share while remainingRaj's mother will take one-third, Mary's child willRaj's mother will take 50% of the share and remainingThere are generally________ types of Private Foundations. Out of these, in ____________ arrangement, the donor has no direct participation in any charitable work.Two, Company-Sponsored FoundationThree, Non-Operating FoundationTwo, Non-Operating FoundationThree, Company-Sponsored FoundationWills executed according to __________ of the _____________ are called Unprivileged Wills.Section 8, Hindu Succession Act 1956Section 63, Indian Succession Act 1925Section 8, Indian Succession Act 1925Section 63, Hindu Succession Act 1956There are four general categories of charitable gifts for donors and non-profits to consider. Out of these________ and ____________ require no contracts, trusts, trustees or special income tax returns. On the other hand, for __________ and _____________most donors and non-profits will need significant level of financial sophistication.Outright Gifts, Bequest, Life Income Gifts, FamilyOutright Gifts, Life Income Gifts, Bequest, FamilyFamily Foundation, Bequest, Life Income Gifts, OutFamily Foundation, Outright Gifts, Life Income Gif_________ 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.Bequest and Outright GiftOutright Gift and BequestFamily Foundation and Life Income GiftsLife Income Gifts and Family FoundationYou are an Estate Planner. As part of the Estate Planning process, you require the client to fill up Estate Planning Checklist and Data Gathering form. The client calls you to understand what are Schedule A and Schedule C attached to the form. You explain to him/her that Schedule A is for _______ and Schedule C is for__________Life Insurance and Qualified Retirement PlanQualified Retirement Plans and Life InsuranceLife Insurance and Marketable Securities'Marketable Securities and Life Insurance

Skills

Reviews