AAFM Exam CTEP Topic 5 Question 62 Discussion

Actual exam question for AAFM's CTEP exam

Question #: 62
Topic #: 5

[All CTEP Questions]

Where an estate is liable to Inheritance Taxes, the tax is usually payable within ________________ of the end of the month in which the death occurred. If it becomes overdue, the amount owing may incur interest, currently at ___________ (as at April 2012).

ASix months, 3% p.a.

BThree months, 6% p.a.

CSix months, 6% p.a.

DThree months,3% p.a.

Show Suggested Answer

Suggested Answer: A

by Shaunna at Mar 22, 2025, 08:45 PM

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Bulah

2 months ago

Is it just me, or does this whole 'inheritance tax' thing sound like a scam to get more money out of people? C seems the least painful.

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Jacklyn

1 months ago

C) Six months, 6% p.a.

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Jade

2 months ago

I think it's just a way for the government to collect more money.

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Raelene

2 months ago

A) Six months, 3% p.a.

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Fairy

2 months ago

Wait, they're charging interest? I thought this was a freebie! Oh well, B it is.

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Tammara

2 months ago

I think the answer is D) Three months, 3% p.a. because a shorter period to pay should have a lower interest rate to be fair.

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Sommer

2 months ago

I'm not sure, but I think it's C) Six months, 6% p.a. because the longer period might come with a higher interest rate.

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Ona

2 months ago

I agree with Carissa, it makes sense to have a longer period to pay and a lower interest rate.

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Levi

3 months ago

Three months and 3% interest? Sounds like a sweet deal! D is the way to go, my friend.

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Lashawna

3 months ago

Hmm, six months or three months... I wonder if the taxman has a really good late payment plan. C looks good to me!

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Jamey

2 months ago

User 3: Yeah, I agree. Let's go with C.

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Lili

2 months ago

User 2: I'm not sure, but C sounds good to me too.

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Ligia

2 months ago

User 1: I think it's six months, 3% p.a.

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Rutha

3 months ago

Whoa, 6% interest? That's highway robbery! I'm going with D to save my client some cash.

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Cory

2 months ago

User 3: Yeah, D seems like the most reasonable choice.

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Anabel

2 months ago

User 2: I think D is the best option to save money.

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Linwood

2 months ago

User 1: I agree, 6% interest is way too high.

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Carissa

3 months ago

I think the answer is A) Six months, 3% p.a.

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Shantell

3 months ago

Six months? That's way too long! The government needs that money pronto. I'll go with B.

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Mollie

3 months ago

Yeah, I'll go with B as well. It's important to pay taxes on time to avoid any additional charges.

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Roslyn

3 months ago

I think so too. Three months seems like a more appropriate timeframe for paying taxes.

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Gregg

3 months ago

I agree, six months does seem like a long time. I think B sounds more reasonable.

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