Free AAFM CTEP Exam Questions

Become AAFM Certified with updated CTEP exam questions and correct answers

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Total 475 Questions | Updated On: Apr 27, 2026

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Question 1

_________ means the amount of _________or its equivalent value in money payable under the Muslim law annually by a Muslim during the month of Ramadan to be used for religious or charitable purposes recognized by the Muslim law.

A : trah, Rice

B : as kahwin, Rice

C : trah, Wheat

D : as kahwin, Wheat

Answer: A

Question 2

Which of the following statement(s) about HUF is/are incorrect?

A : th (i) and (ii)

B : ly (i)

C : ly (ii)

D : ither (i) or (ii)

Answer: D

Question 3

The Client wants to find out the value of estate that his spouse and each of their children would receive assuming he dies today.

A : $2,804,035

B : $2,774,035

C : $2,757,333

D : $2,772,702

Answer: B

Question 4

Mr. Sahil has two daughter and is in receipt of education allowance of Rs 200 per month for each of them. What would be the taxable allowance in the hands of Mr. Sahil for the full FY.

A : L

B : 1,200

C : 2,400

D : 4,800

Answer: C

Question 5

Topic 3, Volume C

An Oral Trust is deemed to be a written trust if a statement in writing is forwarded to the Assessing Officer within _________________ from the date of declaration of the trust.

A : 3 months

B : 6 months

C : 9 months

D : 1 year

Answer: A

Page: 1 / 95

Total 475 Questions | Updated On: Apr 27, 2026

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