Unit – 3– Final Demo – Quiz - Wealth Management Course that Top Wealth Managers Swear By

Question 1 of 25

1. Question

Under Singapore intestate succession act, ‘issue’ includes?

Children and the descendants of deceased children
Grandparents
Spouse
None of the above

Question 2 of 25

2. Question

If an intestate dies leaving a surviving spouse and children, the spouse shall be entitled to?

Whole property
Three-fourth of the property
One-half of the estate
One-fourth of the property

Question 3 of 25

3. Question

In Singapore, Central Provident Fund monies can be distributed through __________

Will
Trust
NGO's
Central Provident Fund monies cannot be distributed under a Will or under any trust created by deceased person

Question 4 of 25

4. Question

The preferred way to obtain residency in UAE is through?

A Corporate Structure
Corporate Governance
Sponsorship a UAE Resident
None of the above

Question 5 of 25

5. Question

Which of the following is/are required Documents for an individual to obtain Tax Domicile Certificate?

Passport Copy
Certified Tenancy Contract
Salary Certificate
All of the above

Question 6 of 25

6. Question

What is the principal source of law of inheritance in UAE?

Shia
Shariah
Sunni
None of the above

Question 7 of 25

7. Question

Determining domicile for US estate and gift tax purposes is different than determining_________?

Question 8 of 25

8. Question

To determine the US domiciliary, which of the following is/are considered?

Length of US Residence
Green Card Status
Ties to Former Country
All of the above

Question 9 of 25

9. Question

From the following who is/are not subjected to gift tax on intangible property?

U.S. Citizens
U.S. Residents
Non-resident Aliens
All of the above

Question 10 of 25

10. Question

Estate taxes are always paid by?

Donor
Recipient
Both Donor and Recipient
None of the above

Question 11 of 25

11. Question

Who is a US citizen?

An individual born in the United States
A former alien who has been naturalized as a U.S. citizen
An individual whose parent is a U.S. citizen
All of the above

Question 12 of 25

12. Question

In Singapore, the distribution of estates of Muslims domiciled in Singapore is governed by?

The Intestate Succession Act of Singapore
The Application of Muslim Law Act
Both A and B
None of the above

Question 13 of 25

13. Question

The statutory residence test (SRT) applies for the purposes of establishing an individual’s residence status or the residence status of another person where that is relevant for?

Corporation Tax
Income Tax
Inheritance Tax
All of the above

Question 14 of 25

14. Question

‘How many automatic tests are there by which a person is automatically considered to be nonresident of UK for the relevant financial year?

Five
Four
Three
Two

Question 15 of 25

15. Question

The number of days an individual spends in the UK in a tax year dictates the number of UK ties that are needed for him to be__________

Non-resident of the UK
UK Resident
Temporary UK Resident
None of the above

Question 16 of 25

16. Question

From the following, determine the type/s of tie/s in the UK?

Family Tie and Accommodation Tie
Work Tie
90 day Tie
All of the above

Question 17 of 25

17. Question

In the UK, the concept of ‘domicile’ is significant from?

Income Tax Perspective
Indirect Tax Perspective
Inheritance Tax Perspective
Both A and C

Question 18 of 25

18. Question

Which of the following is incorrect regarding the distribution of the estate of the deceased Muslim in UAE?

One half of the property will be given to wife if the husband has no descendant
One half of the property will be given to daughter, if the deceased has no other children
One half of the property will be given to the husband, if the wife has no successor
All of the above

Question 19 of 25

19. Question

Which of the following is/are correct regarding the distribution of estate of the deceased Muslim?

One eighth of the property will be given to the wife, if the husband has a successor
One-fourth of the property will be given to the wife, if the husband has no descendant
Two-third of the property will be given to two or more daughters, if deceased has no son
All of the above

Question 20 of 25

20. Question

In UAE, in the case of the death of a Muslim, to whom the estate shall be transferred?

To the person, whose name is mentioned in the certified Will
Only to his children, regardless of any applicable succession laws
To the person who qualifies as an heir under principles of Shariah
None of the above

Question 21 of 25

21. Question

In UAE, from the following, who can never be eligible to get estate of the deceased Muslim?

A person committing murder to benefit from the estate, disqualifies to claim the estate
Divorced women cannot claim from ex-husband's estate unless they are in "iddat" period
Any illegitimate children and adopted children will not be considered as heirs
All of the above

Question 22 of 25

22. Question

In UAE, from the following, who can be eligible to get estate of the deceased Muslim?

Any illegitimate children and adopted children
To the person who qualify as an heir under principles of Shariah
Non-Muslim can benefit from the estate of a Muslim
A person committing murder to benefit from the estate

Question 23 of 25

23. Question

Under the internal revenue code(IRC), US situs property doesn’t include?

Deferred Compensation
Stock or options issued by a US corporation
Insurance on the life of a nonresident alien
Real and tangible personal property

Question 24 of 25

24. Question

In the United States, all resident aliens have the same tax treatment as US citizens and are taxed on theirs?

US Sourced Income
Worldwide Income
Both A and B
None of the above

Question 25 of 25

25. Question

In the USA, the gross estate includes__________owned at death.

Only US situs property
Only tangible property
Only US share market investments
Only tangible properties outside the US

Unit – 3– Final Demo – Quiz

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