American College HS330 Fundamentals of Estate Planning test Exam Practice Test

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Total 400 questions
Question 1

Tax benefits of making lifetime gifts in excess of the gift tax annual exclusion include all the following EXCEPT:



Answer : B


Question 2

All the following statements concerning ante nuptial agreements are correct EXCEPT:



Answer : D


Question 3

All the following will be brought back into the donor's gross estate for federal estate tax purposes EXCEPT:



Answer : C


Question 4

All the following statements concerning the generation-skipping transfer tax (GSTT) are correct EXCEPT:



Answer : D


Question 5

The estate planning process includes all the following activities EXCEPT:



Answer : A


Question 6

For estate tax purposes which of the following is (are) a form of charitable gifts that may qualify for the charitable deduction?

l. Split gifts

ll. Charitable remainder trusts



Answer : C


Question 7

Which of the following statements concerning ownership of property held in trust is (are) correct?

l. The legal owner of property held in trust is a trustee.

lI. The equitable owner of property held in trust is a beneficiary.



Answer : C


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Total 400 questions