Q1.
The person whose Will has been prepared is called:
Q2.
The primary characteristics of a Will is/are:
Q3.
The Will which take effect only on the occurrence of some contingency is called:
Q4.
The Will which entirely in the handwriting of the testator is called:
Q5.
Mr. A executes a Will to be operative for a particular area, i.e. if he dies within that year. He lives longer. If Mr. A has not expressed an intention that the Will would be subsisting even after the particular year, it should be deemed that he died without making a Will. This is a example of:
Q6.
A soldier during his engagement in actual warfare or an airman so engaged or a mariner being at sea may pronounce their Will by mouth before two witnesses. The Will so pronounced is called:
Q7.
A codicil is a supplement to a Will.
Q8.
Which section of the Indian Succession Act provides every person of sound mind, not being a minor, may dispose of their property by Will?
Q9.
A Will can be written in English language only and no technical words need to be used.
Q10.
(I) One person is said to be cognate of another if the two are related by blood or adoption wholly through males.
(II) One person is said to be agnate of another related by blood or adoption but not wholly through males.
Q11.
(I) Two persons are said to be related to each other by ‘Full Blood’, when they are descended from a common ancestor by different wives.
(II) When two people are descended from a common ancestor but by different husbands they are said to be related by uterine blood.
Q12.
Mr. Ram recently passed away. He led a very busy life and never got around to drafting a Will. He had three young children and a wife. His estate has been valued at Rs. 380,000. How will the deceased’s intestate estate be dealt with?
(Assuming the provisions of the Hindu Succession Act)
Q13.
The duties of an executor are:
Q14.
A probate means a copy of the Will, certified under the seal of a competent court, based on which the executor and legatees get their rights with respect to administration of the estate.
Q15.
(I) A probate is not required in case of Wills made by Christians.
(II) A probate cannot be granted until the expiration of seven days from the date of the testator’s death.
Q16.
A Letter of Administration (LoA) cannot be granted till the expiration of _________ days from the date of the testator’s death.
Q17.
(I) A succession certificate is applicable when there is no valid Will.
(II) There is no codified law for Wills for Muslims.
Q18.
Are all benefits paid out of a superannuation fund following the death of the member received free of tax?
Q19.
Death will cause a capital gains tax liability to arise, payable out of the estate.
Q20.
(I) A tenancy-in-common is where two or more persons own the property in such a manner that they have undivided possession in the whole but each has separate ownership.
(II) Joint tenancy exists where the right of survivorship operates.
Q21.
Who is able to control the assets of a trust?
Q22.
A Mohammedan can validly bequeath only __________ of their net assets, when there are heirs.
Q23.
(I) The person granting the power of attorney is called the ‘grantee’.
(II) The person receiving the power of attorney is called the ‘grantor’.
Q24.
(I) Discretionary trusts are trusts where the trustees have full discretion in the application of the trust property for the benefit of the beneficiaries.
(II) Discretionary trusts are taxable at the maximum marginal rate of taxation.
Q25.
Are the assets of a trust able to be left to a beneficiary under a Will?
Q26.
Why do you think it is important to have a properly drafted Will?
Q27.
Under which section of the Indian Succession Act, 1925 defines ‘Will’ as ‘the legal declaration of the intention of the testator with respect to his property.
Q28.
Transfer of property under a Will is called ‘bequest’ of property.
Q29.
Unless specifically provided for in the grant, the attorney is not entitled to exercise their powers for their own benefit or advantage.
Q30.
(I) An enduring power of attorney that continues operation even after the grantor has lost capacity through unsoundness of mind.
(II) Only the shares held by the shareholder pass through their estate on the death of the shareholder.
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