最新的American College Certification認證 HS330考試題庫

問題1

Which of the following statements concerning the generation-skipping transfer tax (GSTT) is correct?

A. The lifetime exemption shelters a maximum of $1 million of transfers to grandchildren from GSTT for the current year.

B. Tuition payments made by a grandparent directly to a university for a grandchild's education are exempt from GSTT.

C. The GSTT rate applicable to a transfer depends upon the amount of the gift.

D. The annual exclusion against GSTT shelters gifts by a grandparent to a trust benefitting multiple grandchildren.

正確答案: B

問題2

Which of the following statements concerning the imposition of state death taxes on property owned by a decedent is (are) correct?
1.Real estate must be taxed in the state where the decedent was domiciled.
2.Intangible personal property is generally taxed in the state where the decedent was domiciled.

A. 1 only

B. Neither 1 nor 2

C. Both 1 and 2

D. 2 only

正確答案: D

問題3

Items that are deductions from a decedent's gross estate in determining his adjusted gross estate include which of the following?
1.Foreign death taxes
2.State death taxes

A. 1 only

B. Neither 1 nor 2

C. Both 1 and 2

D. 2 only

正確答案: B

問題4

Which of the following statements concerning ownership of property held in trust is (are) correct?
1.The legal owner of property held in trust is a trustee.
2.The equitable owner of property held in trust is a beneficiary.

A. 1 only

B. Neither 1 nor 2

C. Both 1 and 2

D. 2 only

正確答案: C

問題5

All the following statements concerning a federal estate tax deduction for a bequest or gift to a qualified charity are correct EXCEPT:

A. A life insurance policy that was assigned to a charity as a gift less than 3 years prior to the insured's death qualifies for a charitable deduction.

B. An estate may deduct the value of the remainder interest in a charitable remainder trust.

C. The amount of a charitable deduction is reduced by any taxes and administrative expenses chargeable against the bequest.

D. The amount of a charitable deduction may not exceed 50 percent of a decedent's adjusted gross estate.

正確答案: D

問題6

All the following statements concerning the gift and estate tax chartiable deduction are correct EXCEPT:

A. An estate tax charitable deduction is allowed for the full value of property transferred to a qualified charity but only if the property is included in the donor gross estate.

B. If the donor retains an interest in property contributed to a qualified charity during lifetime, the value of the property may be included in the donor gross estate.

C. It is possible for a charitable contribution made during the donor lifetime to generate both income and transfer tax deductions for the donor.

D. A donor is denied a charitable deduction for property that passes to a qualified charity as the result of a qualified disclaimer if the donor original transfer was to anoncharitable donee.

正確答案: D

問題7

In addition to substantial probate assets, a married man with two minor children has a $1,000,000 ordinary life insurance policy payable to his estate. He wants to make certain that if he predeceases his wife the death proceeds will be available to provide income for his wife during her lifetime and to provide for their two children after her death. He would like the policy and/or its death proceeds to be as free of federal gift and estate taxes as possible with respect to both him and his wife. Which of the following courses of action would best accomplish these objectives?

A. Assign the policy to an irrevocable intervivos trust with five and five powers and designate the trustee to receive the death proceeds

B. Designate his wife as beneficiary and she will establish a testamentary trust in her will to receive the proceeds at her subsequent death

C. Assign the policy to his wife who will establish a revocable intervivos trust to receive the death proceeds

D. Establish a revocable intervivos trust and designate the trustee to receive death proceeds

正確答案: A

問題8

The primary objective in estate planning is to

A. reduce estate taxes to the lowest amount possible

B. preserve the marital deduction and applicable credit amount credit

C. prevent the intestate distribution of assets

D. reflect accurately the client's wishes concerning the disposition of his or her wealth

正確答案: D

問題9

Which of the following provisions is (are) generally common to all buy-sell agreements?
1.Provisions specifying how the purchase price is to be funded.
2.Statement indicating the purpose of the agreement.

A. 1 only

B. Neither 1 nor 2

C. Both 1 and 2

D. 2 only

正確答案: C

問題10

A number of states have passed statutes governing "living wills." Which of the following statements concerning a living will is (are) correct?
1.A living will is an alternative to an inter vivos trust under certain circumstances.
2.A living will is an oral will made by the testator during a final illness when it is impossible to write one.

A. 1 only

B. Neither 1 nor 2

C. Both 1 and 2

D. 2 only

正確答案: B

問題11

Which of the following statements concerning revocable trusts is correct?

A. A transfer of property to a revocable trust is treated as a completed gift.

B. A transfer of income-producing property to a revocable trust will result in favorable income tax treatment for the grantor.

C. The transfer of property to a revocable trust is typically motivated by nontax reasons.

D. Property of a revocable trust will be included in the grantor's probate property.

正確答案: C

問題12

Which of the following statements concerning charitable remainder annuity trusts is correct?

A. The interest paid to the charity must be paid at least quarterly.

B. The donor receives an estate tax charitable deduction for the value of the remainder interest.

C. It provides a fixed annuity income interest to a qualified charity.

D. The term of charitable remainder annuity arrangements is limited to 10 years.

正確答案: B

問題13

Which of the following statements concerning the valuation of intangible personal property in the gross estate of a decedent is correct?

A. If there were no trades of a listed common stock on the date of the stockholder's death, the stock's value is based on its average daily price for the previous month prior to the shareholder's death.

B. Valuing closely held stock requires the consideration of several factors outlined by IRS rulings.

C. Certain U.S. Treasury bonds that are used to pay federal estate taxes at par are valued at their market price on the date of death of the owner.

D. When a minority stockholder in a closely held corporation dies, his stock is valued on the basis of the "blockage" rule.

正確答案: B

問題14

Which of the following statements concerning the generation-skipping transfer tax (GSTT) is correct?

A. An annual exclusion is available for direct skip gifts to a grandchild.

B. The GSTT is inapplicable to transfers to nonrelated transferees.

C. The applicable credit amount may be applied against generation-skipping transfers.

D. The GSTT is imposed only if no federal estate or gift tax applies to a transfer.

正確答案: A

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