American College Fundamentals of Estate Planning test 認定 HS330 試験問題:

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

A) All benefits of ownership remain available to the surviving spouse without interruption during the administration of the deceased spouse's estate.
B) The deceased spouse's interest in the property qualifies for the marital deduction since it passes outright to the surviving spouse.
C) Jointly held property between spouses does not pass through the probate estate of the first spouse to die.
D) In common-law states the total value of the property receives a stepped-up tax basis in the estate of the first spouse to die.

2. All the following statements concerning filing the federal estate tax return are correct EXCEPT:

A) An extension to file the estate tax return must be received and granted by the IRS before the time for filing the return expires.
B) The estate tax return must be filed within 9 months of death unless an extension is granted by the IRS.
C) An automatic one-year extension for filing the estate tax return is granted when the decedent dies overseas.
D) For persons dying this year, an estate tax return must be filed for gross estates plus adjusted taxable gifts that exceed $1.5 million.

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

A) Was the transferred property real property or personal property?
B) Was the value of the gift property in excess of the annual per-donee exclusion?
C) Was the property transferred for less than an adequate and full consideration in money or money's worth?
D) Did the donor absolutely, irrevocably, and currently divest himself of dominion and control over the property?

4. All the following statements concerning irrevocable trusts are correct EXCEPT:

A) A transfer of property to an irrevocable trust will be ineffective for the purpose of reducing the grantor's gross estate.
B) Property transferred to an irrevocable trust will not be included in the grantor's probate property.
C) An irrevocable trust is one which the grantor cannot terminate and reclaim the trust property.
D) An irrevocable trust is treated as a completed gift for estate, gift, and income tax purposes.

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

A) Income earned by one spouse becomes community property.
B) Community property loses its identity when a community-property couple moves to a common-law state.
C) All property that is not separate property is community property.
D) Property inherited during the marriage is the separate property of the spouse who inherited it.

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