Important American College HS330 Exam Questions
American College Fundamentals of Estate Planning test HS330 Exam
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| Vendor: | American College |
|---|---|
| Exam Name: | Fundamentals of Estate Planning test |
| Registration Code: | HS330 |
| Related Certification: | American College ChFC Certification |
| Exam Audience: | Finance Accountants, Financial Consultant, |
Question: 1
Which of the following statements concerning charitable remainder unitrusts is correct?
Question: 2
Which of the following statements concerning charitable guaranteed annuity interests is (are) correct?
l. To qualify for an estate tax charitable deduction, guaranteed annuity interests must be made in trust.
ll. These interests refer to the charity right to receive a determinable income amount at least annually for a specific term or life (lives) or one or more no charitable beneficiaries.
Question: 3
Which of the following statements concerning the so-called ''kiddie-tax'' on unearned income of children under age 14 is (are) correct?
l. The rules apply to earned income of the children.
II. The rules apply to trust income received by a child under age 14 only if the trust was established by the child's parents.
Question: 4
A widower dies leaving a net probate estate of $300,000. At the time of his death, his descendants are as follows:
A son, Joe, who has no children;
A deceased daughter, Mary, whose two children, Irene and Sally, survive; and A daughter, Anne, who has one child, Harry Assuming that the widower's will provides for the distribution of his assets in equal shares to his children, per stripes, which of the following correctly states the amounts each descendant will receive?
Question: 5
Which of the following statements concerning the so-called ''kiddie-tax'' on unearned income of children under age 14 is (are) correct?
l. The rules apply to earned income of the children.
II. The rules apply to trust income received by a child under age 14 only it the trust was
established by the child's parents.