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Failure to create an Estate Plan leads to __________

A.

Only (i)

B.

Only (ii)

C.

Neither of the (ii)

D.

Both (i) and (ii)

There are______ key estate planning strategies to transfer wealth efficiently. In a Granted Retained Annuity Trust, annuity payments are determined in relation to IRS benchmark interest rate called ____________ rate.

A.

Four, Section 7520

B.

Six, Section 7520

C.

Four. Section 7620

D.

Six, Section 7620

There are__________ methods of Business valuation.Out of these methods,___________ method applies discount rate to determine the valuation of the business.

A.

Two, Discounted Cash Flow

B.

Three, Discounted Cash Flow

C.

Two, Income method

D.

Three, Income method

Who needs an Estate Plan?

A.

Everyone

B.

HNI

C.

Terminally ill

D.

Elderly

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

A.

Rs. 2,50,000

B.

Rs.3,00,000

C.

Rs. 10,00,000

D.

Rs.4,00,000

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.

A.

Life Insurance Policy

B.

Buy Sell Agreement

C.

Family Limited Partnership

D.

Grantor Retained Annuity Trust

According to__________ of the ‘Registration Act, 1908’ the registration of a Will is not compulsory.

A.

Section 8

B.

Section 48

C.

Section 1

D.

Section 6

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

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

Estate tax is also called ________

A.

Succession Tax

B.

Voluntary Tax

C.

Involuntary Tax

D.

Transfer Tax

In case of Amputation through shoulder joint, what is the Percentage of Compensation given (as per Workmen’s Compensation Act)?

A.

50%

B.

75%

C.

90%

D.

100%