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CTEP – Chartered Trust & Estate Planner® (CTEP®) Certification Examination

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Showing 16–18 of 20 questions

Question 16 (Volume D)

In case where the Filling Status is single, phase-out begin range is ____________ (as in 2013).

Select an option, then click Submit answer.

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    $250,000

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    $372,500

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    $150,000

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    $300,000

Question 17 (Volume D)

The defined period for fraudulent transfers under the Bankruptcy Code was formerly ____________prior to the debtor’s filing for bankruptcy. This period was ____________ by the Bankruptcy Abuse Prevention and Consumer Protection Act of ___________.Transfers to self-settled trusts may be recaptured if made within _________ of the debtor’s filing for bankruptcy if the transfer in trust was made with the intent to hinder, delay or defraud present or future creditors.

Select an option, then click Submit answer.

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    One year ; Extended to two years; 2005; 10 years
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    Two years; Reduced by one year; 2005; 10 years
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    One year; Extended to two years; 2008; 15 years
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    Two years; Reduced by one year; 2008; 15 years
Question 18 (Volume D)

You are a Trust and Estate Planner. Mr. Keith is your client. He is 45 years old. He asks you that in case he wants to leave assets for the life benefit of his spouse, but ultimately have the funds pass to his children by a prior marriage he should create ______________________. He further asks you to explain disadvantages of such arrangement. You tell him that the disadvantages of the arrangement are ____________ of the given options.

C:\Pasban Work\Cert Paper Exams\AAFM\CTEP\sep 10\26712_U6M4_6485_image001.png

Select an option, then click Submit answer.

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    Living Trust; All of the above
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    Living Trust; All except (iii)
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    QTIP Trust; All except (ii)
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    QTIP Trust; All except (i)