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M4 Pending Estate Planning Practice Questions

M4 Pending Estate Planning Practice Questions

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\u00a9 copyright 2003 International College of Financial Planning Ltd. All rights reserved
1
Module 5: T
Module 5: T
Module 5: T
Module 5: T
Module 5: Tax planning and Estate planning
ax planning and Estate planning
ax planning and Estate planning
ax planning and Estate planning
ax planning and Estate planning
Estate Planning
Estate Planning
Estate Planning
Estate Planning
Estate Planning
Practice questions
Practice questions
Practice questions
Practice questions
Practice questions
Instructions to candidates
Instructions to candidates
Instructions to candidates
Instructions to candidates
Instructions to candidates
a) Tick the answer which you feel is closest to the correct answer
b) Each Question carries one mark
c) Negative marking to the extent of 20% is applicable i.e. for every wrong answer you will lose 0.2 marks.
Will
Will
Will
Will
Will
Q.1 Whether in Vedic period Hindus used to make Will or not?
(a) Yes
(b) No
(c) Not Known
Q.2. What is the factor that can be held responsible for there being no laws of Will in ancient times?
(a) No Knowledge of law
(b) Property devolving amongst heirs usually
(c) No practice of accumulation
Q.3. What surrounding circumstances be used as an aid in interpreting a will?
(a) the surrounding circumstances are to be considered, but that is only for the purpose of finding out the

intended meaning of the words which have actually been employed (b) Will needs to be interpreted on the basis of reading of the will only. (c) Not known

Q.4. Whether Joint Wills are valid will?
(a) Yes
(b) No
(c) Not Known
Q.5 Whether the words, which are obviously administrative, may be corrected?
(a) Yes
(b) No
(c) Not Known
Q.6. If there are two repugnant provisions, conferring successive interests, if the first interest created is valid the
subsequent interest cannot take effect?
(a) Yes
(b) No
(c) Not Known
Q.7 Whether a document can be partly testamentary and partly immediately effective as a settlement?
(a) Yes
(b) No
(c) Not Known
Q.8 Whether the words occurring more than once in a Will shall be presumed to be used always in the same sense,
unless a contrary intention appear from the Will?
(a) Yes
(b) No
(c) Not Always
2
\u00a9 copyright 2003 International College of Financial Planning Ltd. All rights reserved
Q.9. If a testator used an additional word or phrase, he must be presumed to have an additional meaning?
(a) Yes
(b) No
(c) Not known
Q.10. Whether the extrinsic evidence is admissible to alter, detract from, or add to, the terms of a Will ?
(a) Yes
(b) No
(c) Not Known
Q.11. Whether extrinsic evidence i may be used to remove a latent ambiguity?
(a) Yes
(b) No
(c) Not Known
Q.12. Whether Court can vary the meaning of the w ords?
(a) No
(b) Yes
(c) Not Known
Q.13. Whether an express or positive device can be controlled by subsequent ambiguous w ords or by inference and
arguments from other parts of the Will?
(a) Yes
(b) No
(c) Not always
Q.14. Whether favor or disfavor to an object can have any influence on the construction of a Will?
(a) Yes
(b) No
(c) Should Not Have any influence
.Q.15. What section the Indian Succession Act will be attracted when Will purports to make to bequest to the same
person?
(a) Section 63
(b) Section 101
(c) Section 54
Q.16. Whether uncertainty will have some impact on the Will?
(a) Yes
(b) No
(c) Not always
Q.17. Whether uncertainty will make a Will Void?
(a) Yes
(b) No
(c) Not Known
Q.18. Whether a conditional and contingent Will exist?
(a) Yes
(b) No
(c) No where
\u00a9 copyright 2003 International College of Financial Planning Ltd. All rights reserved
3
Q.19. Whether a conditional or contingent Will can be probated even w hen the condition or the contingency does
not take place ?
(a) Yes
(b) No
(c) Never
Q.20. Whether both Wills are valid one relating to his property at testator \u2019s native country and other relating to his
property in some foreign country?
(a) Yes
(b) No
(c) Not known
Q.21. Whether Concurrent Will made for the same set of properties are valid?
(a) Yes
(b) No
(c) Never
Intestate succession
Intestate succession
Intestate succession
Intestate succession
Intestate succession
Q. 1. What effected the traditional Hindu Law of Intestate Succession?
(a) Traditional Hindu law of succession stood modified by the impartible estates and the doctrine of primo-
geniture.
(b) Doctrine of severity
(c) Not Known
Q.2 Which traditional School of H indu Law has sub schools?
(a) Dayabhaga
(b) Mitakshara
(c) No School has any sub division
Q.3. What are the sub schools of M itakshara School?

(a) Benarsi, Dravida, Mithila and Bombay (b) Mithila, Calcutta, Bombay and Punjab (c) Not Known

Q.4. On what basis Mithakshara School was sub divided?
(a) Region wise
(b) Nature of traditional succession
(c) On the basis of Ruler\u2019s discretion
Q.5. When did the first change in traditional Hindu law took place?

(a) 1850 (b) 1910 (c) 1945

Q.6. Which was the legislation, which had impact on the Hindu Law?
(a) The Hindu law of succession underwent first modification by the Caste Disabilities Removal Act, enacted
in the year 1850.
(b) The Hindu Succession Act
(c) Not Known
Q.7. Whether Hindu Succession Act is prospective in nature?
(a) Yes
(b) Yes, but has some exception
(c) The whole Act is retrospective in its application

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