American College HS330 Fundamentals of Estate Planning test Exam Practice Test

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Total 400 questions

Question 1

All the following statements concerning property ownership by a married couple residing in a community-properly state are correct EXCEPT:



Answer : B

Question 2

All the following statements concerning real properly ownership by married couples as joint tenants with right of survivorship are correct EXCEPT:



Answer : D

Question 3

All the following statements concerning guardians for minors are correct EXCEPT:



Answer : B

Question 4

All the following statements concerning a grantor-retained annuity trust (GRAT) or a grantorretained unitrust (GRUT) are correct EXCEPT:



Answer : B

Question 5

All the following statements concerning an estate for a term of years are correct EXCEPT:



Answer : C

Question 6

To determine whether a taxable gift has been made, the IRS focuses on all the following factors EXCEPT:



Answer : A

Question 7

A woman is the income beneficiary of an irrevocable trust. All the following powers held by her will cause all the assets in the trust to be includible in her gross estate for federal estate tax purposes EXCEPT:



Answer : C

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Total 400 questions