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There are _________________ Non-Formal Sources of Law.

A.

One

B.

Two

C.

Three

D.

Infinite

Private Companies have a minimum paid up capital of _______________ or such higher capital as may be prescribed.

A.

Rs 1,00,000

B.

Rs.3,00,000

C.

Rs.5,00,000

D.

Rs10,00,000

Which of the following events does not require a Estate Planner to revise his plan?

A.

Divorce

B.

Donation of Asset

C.

Birth of grandchildren

D.

None of the above

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

A.

Two, Settlor

B.

Three, Settlor

C.

Two, Executor

D.

Three, Executor

There are ______ steps in Selling process. The last step in Selling Process is ____________.

A.

Five, Develop and Implement the Plan

B.

Five, Service the Plan

C.

Eight, Implement the Plan

D.

Eight, Service the Plan

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

A.

Only (i)

B.

Only (ii)

C.

Both (i) and (ii)

D.

Neither (i) or (ii)

More than_______ in wealth classifies the person as “Ultra HNI”

A.

$1 million

B.

$10 million

C.

$50 million

D.

$100 million

If a soldier makes a Will in oral form, for what time will it be valid?

A.

It will be valid always

B.

Valid for only a month

C.

Valid for three months

D.

Soldier cannot make Oral will

Wills executed according to __________ of the _____________ are called Unprivileged Wills.

A.

Section 8, Hindu Succession Act 1956

B.

Section 63, Indian Succession Act 1925

C.

Section 8, Indian Succession Act 1925

D.

Section 63, Hindu Succession Act 1956

What is Probate?

A.

A Will made out of undue influence

B.

The process of distribution of estate

C.

A person who pays the ‘Inheritance Tax’

D.

Court process by which a will is proved valid or invalid