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AAFM CTEP Exam - Topic 1 Question 67 Discussion

You are an Estate Planner. Mr. Arun Mittal is your client. He is inquisitive to know about Trusts. You explain him that on the basis of intention, Trust is of ____________ types and on the basis of Purpose, Trust is of __________ types. He further asks you that which of these are the requisites for the creation of a Trust out of theseWhat will be your reply to all of the above questions?
A) Five, Two, None of the above
B) Five, Two, All of the above
C) Four, Four, Only (ii)
D) Five, Four, Both (ii) and (iii)

AAFM CTEP Exam - Topic 1 Question 67 Discussion

Actual exam question for AAFM's CTEP exam
Question #: 67
Topic #: 1
[All CTEP Questions]

You are an Estate Planner. Mr. Arun Mittal is your client. He is inquisitive to know about Trusts. You explain him that on the basis of intention, Trust is of ____________ types and on the basis of Purpose, Trust is of __________ types. He further asks you that which of these are the requisites for the creation of a Trust out of these

What will be your reply to all of the above questions?

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Suggested Answer: A

by Ernestine at Jul 15, 2025, 02:07 AM

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Vashti
9 months ago
I believe the requisites are really important to understand too!
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Lashawn
9 months ago
Wait, are you sure about those numbers? Seems off to me.
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Eve
9 months ago
Totally agree, five and four sounds right!
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Melina
9 months ago
Trusts are definitely interesting! There are five types based on intention.
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Audry
9 months ago
I thought there were only four types based on purpose?
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Felicidad
10 months ago
I believe the answer is D, but I need to double-check if both (ii) and (iii) are indeed requisites for a trust.
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Leonida
10 months ago
I'm not sure about the requisites for creating a trust. I feel like I might have mixed up the options.
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Shaquana
10 months ago
I think there are five types of trusts based on intention and four based on purpose. That sounds familiar from our practice questions.
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Gilma
10 months ago
I remember that there are different types of trusts based on intention, but I can't recall if it's five or four.
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Hubert
11 months ago
This question is testing my knowledge of trust law, which is an area I'm still getting comfortable with. I'll make sure to carefully consider each option and think through the logic behind the answer. Taking my time is key here.
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Chana
11 months ago
I feel pretty confident about this one. I remember learning about the different classifications of trusts, and the requisites for creating a trust are straightforward. I'll double-check my work, but I think I can nail this question.
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Thurman
11 months ago
Hmm, this is a tricky one. I'm a bit confused about the distinction between the types of trusts and the requisites for creating a trust. I'll need to re-read the question and think it through step-by-step to make sure I don't miss anything.
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Lilli
11 months ago
Okay, I think I've got a handle on the different types of trusts based on intention and purpose. Now I just need to identify the requisites for creating a trust. I'll review the options carefully and select the one that best matches the information given.
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Daron
11 months ago
This question seems straightforward, but I want to make sure I understand the key details before answering. I'll carefully read through the information provided and think through the different types of trusts and their requisites.
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Trinidad
12 months ago
If I were the estate planner, I'd be tempted to just say, 'Trust me, I know what I'm doing!' but that wouldn't be very professional, would it?
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Rebbeca
12 months ago
Haha, I bet Mr. Arun Mittal is really keeping the estate planner on their toes with all these questions!
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Fausto
11 months ago
Five types for intention? That's interesting!
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Kendra
11 months ago
Mr. Mittal sounds curious! That's great for learning!
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Erasmo
12 months ago
Trusts can be complex. Good that he's asking!
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Kindra
12 months ago
I wonder which purpose types he'll explore next!
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Polly
1 year ago
The requisites for creating a Trust are mentioned in option D - Five, Four, Both (ii) and (iii).
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Martin
1 year ago
Wait, there are four and four types of trusts? This is getting confusing.
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Florinda
12 months ago
The requisites for creating a trust depend on the specific type of trust you are looking to establish.
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Lynda
1 year ago
Yes, there are different types of trusts based on intention and purpose.
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Ariel
1 year ago
What are the requisites for creating a Trust?
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Jamika
1 year ago
I think the answer is D. Both (ii) and (iii) are the requisites for the creation of a trust.
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Jacqueline
1 year ago
That's correct. Both (ii) and (iii) are the requisites for the creation of a trust.
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Jacqueline
1 year ago
D) Five, Four, Both (ii) and (iii)
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Polly
1 year ago
Trusts are of two types based on intention and four types based on purpose.
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Shaniqua
1 year ago
Hmm, this seems tricky. I'm not sure about the different types of trusts based on intention and purpose.
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Audra
1 year ago
Estate Planner
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Shonda
1 year ago
Estate Planner
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