AAFM Chartered Trust & Estate Planner (CTEP) Certification Examination Exam Practice Test

_____________ is for Certificate of Foreign Status of Beneficial Owner for United States Tax Withholding and___________ if for Certificate of Foreign Government or Other Foreign Organization for United States Tax Withholding.

There is no overall limit on how much a person can have invested in ISA accounts, but additional investments are currently limited to ________per person per year: a maximum of _________ in cash funds, with the balance being allocated either to mutual funds (Units Trusts and OEICs) or individual self-selected shares.

Which of the following statement(s) about FDAP Income is/are correct?

In US, a separate rate structure applies to capital gains and dividends. Under present law, for 2013, the maximum rate of tax on the adjusted net capital gain of an individual is 20 percent for singles earning over __________and couples earning over _______________.

Individuals who receive employment income in Singapore and who are tax residents of countries that have concluded double tax treaties with Singapore may be exempt from Singapore income tax if their period of employment in Singapore does not exceed a certain number of days, usually _______ in a calendar year or within __________ and if they satisfy certain additional criteria specified in the treaties.

In US, GST exemption limit for 2013 is _______________ and the Estate and Gift tax for the same year is __________.

In case of Discretionary Discounted Gift Trust, the settlor has the right to receive annual capital payments upto ________ of the original capital. The trust is suitable for individuals who have a liability to ______________ and are happy to make substantial gifts.