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Question 1 of 25
1. Question
If a person expressed his intention to write his Will in his own handwriting. Such a Will is wholly in the handwriting of the testator is called as
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Question 2 of 25
2. Question
A testator sometimes make two wills one relating to his property in his native country and other relating to his property in some foreign country this type of will is called
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Question 3 of 25
3. Question
A loan which is very popular among the retired professionals is known as
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Question 4 of 25
4. Question
Which of the following trust is founded on an unexpressed but presumed intention of the party creating it?
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Question 5 of 25
5. Question
Indian trusts act 1882 is not applicable to
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Question 6 of 25
6. Question
When the beneficiaries sue the trustees for breach of trust or lack of reasonable care and skill, they
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Question 7 of 25
7. Question
Trusts can avail ___________ from the govt
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Question 8 of 25
8. Question
A ____________ is designed to manage and protect assets for a child until they reach a specified age.
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Question 9 of 25
9. Question
Which of the following company is not classified on the basis of business activities undertaken?
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Question 10 of 25
10. Question
Which of the following types of properties are generally accepted as joint family property
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Question 11 of 25
11. Question
Which is the judicial process whereby a will is proved in a court of law and accepted as a valid public document that is the true last testament of the deceased
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Question 12 of 25
12. Question
A Muslim gentleman can leave his will, bequeathing all his properties to someone other than his legal heirs to the extent of
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Question 13 of 25
13. Question
Which is a gift in the form of a single transfer to the same person of several things of which one is and the others are not burdened by an obligation, the donee can take nothing by the gift unless he accepts if fully?
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Question 14 of 25
14. Question
A system by which a buyer pays for a thing in regular installments while enjoying the use of it. During the repayment period, ownership of the item does not pass to the buyer. Upon the full payment of the loan, the title passes to the buyer is called
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Question 15 of 25
15. Question
Which of the following trust is established by expressions of confidence, request or desire that property will be applied for the benefit of a definite person or object, where such words are construed as constituting a Trust?
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Question 16 of 25
16. Question
Identify the income in respect of which trust can claim straightaway exemption without being spent?
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Question 17 of 25
17. Question
Trustee will assure you that your insurance proceeds are
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Question 18 of 25
18. Question
You wish to protect some of your existing assets in the event your investment fails in a High-Risk Investment. This objective can be achieved by
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Question 19 of 25
19. Question
Under Payments of Gratuity Act, Completed year of service means continuous service for
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Question 20 of 25
20. Question
Income included in the income of family
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Question 21 of 25
21. Question
Codicil means
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Question 22 of 25
22. Question
Which of the following are the necessary contents of a will?
(i) It must be in writing.
(ii) Full name & addresses other attesting witnesses below their signatures.
(iii) It must contain the disposition of the property to take effect after death.
(iv) List of properties making a will.CorrectIncorrect -
Question 23 of 25
23. Question
Which of the following option illustrates an advantage of the probate process?
(i) Protects creditors
(ii) Provides clear title to heir or legatee
(iii) Improves the likelihood mart parties the opportunity to be hear
(iv) Provides for an orderly administration of decedents assetsCorrectIncorrect -
Question 24 of 25
24. Question
Which regulatory authority has the power to approve settlement or transfer of assets created abroad in case of an offshore Trust?
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Question 25 of 25
25. Question
The doctrine of laches means that
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