Chartered Trust and Estate Planner® (CTEP®) Practice Exam
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Chartered Trust and Estate Planner® (CTEP®) Practice Exam
The Chartered Trust and Estate Planner® (CTEP®) Exam is offered by the American Academy of Finance (AAFMAA) in India. It validates your knowledge and expertise in the complex area of trust and estate planning. Earning the CTEP® designation demonstrates your competency in helping individuals plan for the distribution of their assets after death and manage their wealth during their lifetime.
Who should take this exam?
This certification is ideal for various professionals working in the financial services industry, including:
- Financial Advisors: Expand your service offerings to include trust and estate planning, providing holistic financial advice to clients.
- Wealth Managers: Enhance your ability to manage client wealth across generations, considering tax implications and asset distribution strategies.
- Estate Planning Attorneys: Deepen your understanding of financial aspects of estate planning to better serve your clients.
- Insurance and Investment Professionals: Broaden your knowledge to offer clients integrated wealth management solutions that include trust and estate planning strategies.
Prerequisites
Educational Background: Candidates must have two of the following:
An accredited financial, investment, accounting, tax, or economics degree (ABA AACSB, ACBSP, or Equis accredited).
- Three years of professional experience in a relevant field.
- A government recognized degree (licenses, degrees, MBA/Masters, PhD, CPA), recognized designations, or specialized work experience considered equivalent by AAFM India.
- Completion of online Executive Certification Training Programs approved by AAFM India.
Experience: While not mandatory, relevant experience in financial planning, wealth management, or a related field can be advantageous.
Exam Details
- Exam Provider: American Academy of Finance (AAFMAA) - India
- Format: Computer-based exam with multiple-choice questions
- Number of Questions: 60 questions
- Duration: 120 minutes
- Passing Score: For credit, all answers must be 100% accurate. For wrong responses, there is no deduction or partial credit offered. A paper outlining your overall pass or fail grade as well as the parts you passed or failed will be sent to you.
Course Structure
1. Personal Financial Planning, Estates, and Risk Management
- Introduction to Offshore Variable Life Insurance
- Offshore Holding Structures
- Asset Protection Benefits
- Investment Management Benefits and Flexibility
- Tax Benefits
- Liquidity
- The IRC 953 (d) Election
- Diversification and Investor Control
- Due Diligence Requirements
- Gathering Information
- Prequalification and Placing the Offshore Policy
2. The Law of Trusts and Fiduciary Obligations
- Uses of trusts.
- Distinction between a trust and a power.
- Discretionary trusts.
- Certainty, the beneficiary principle and purpose trusts.
- Charitable trusts.
- Unincorporated associations and pension funds.
- Secret trusts and mutual wills.
- Resulting and constructive trusts.
- Breach of trust. Breach of fiduciary duty.
- Tracing, and strangers to the trust.
- Appointment and removal of trustees.
- Duties of trustees.
- Termination and variation of trusts.
3. International Estate Planning
- Income, Gift and Estate Taxation and Planning
- Charitable contribution deduction under U.S. tax laws
- Taxation of non-residents and non-domiliciaries
4. International Anti-Avoidance and Tax Treaties
- Anti-avoidance provisions
- The current state of the law in selected countries