Free American College HS330 Exam Questions
Absolute Free HS330 Exam Practice for Comprehensive Preparation
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American College HS330 Exam Questions
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Provided By: American College
- Exam: Fundamentals of Estate Planning test
- Certification: ChFC
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Total Questions: 400
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Updated On: Sep 03, 2026
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Rated: 4.9 |
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Online Users: 800
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Question 1
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A wife with substantial property in her own name would like to provide for her husband in the event
of her prior death but does not want him to be able to leave her property to a second wife if he
remarries. She would also like to take advantage of the marital deduction to save federal estate
taxes. Her attorney has advised her that qualified terminable interest property (QTIP) will accomplish
her objectives. To qualify such property for the marital deduction, all the following requirements
must be met EXCEPT:
Answer: D
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A wife with substantial property in her own name would like to provide for her husband in the event
of her prior death but does not want him to be able to leave her property to a second wife if he
remarries. She would also like to take advantage of the marital deduction to save federal estate
taxes. Her attorney has advised her that qualified terminable interest property (QTIP) will accomplish
her objectives. To qualify such property for the marital deduction, all the following requirements
must be met EXCEPT:
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Question 2
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A father is considering giving his daughter a gift. For tax planning purposes, the father should give his
daughter which of the following?
Answer: A
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A father is considering giving his daughter a gift. For tax planning purposes, the father should give his
daughter which of the following?
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Question 3
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Which of the following statements concerning the generation-skipping transfer tax (GSTT) is correct?
Answer: B
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Which of the following statements concerning the generation-skipping transfer tax (GSTT) is correct?
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Question 4
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Many trust instruments provide for the removal of the original trustee. Valid reasons for removing
the original trustee include which of the following?
I .A shift in trust situs is desirable because of changes in law.
II. The beneficiary has moved his or her residence to a distant state.
Answer: C
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Many trust instruments provide for the removal of the original trustee. Valid reasons for removing
the original trustee include which of the following?
I .A shift in trust situs is desirable because of changes in law.
II. The beneficiary has moved his or her residence to a distant state.
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Question 5
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The Decedent, T, died this year. The facts concerning T estate are:
Gross estate $2,700,000
Marital deduction 900,000
Charitable deduction 110,000
Gifts made after 1976 130,000
State death taxes payable 165,000
What is T taxable estate?
Answer: C
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The Decedent, T, died this year. The facts concerning T estate are:
Gross estate $2,700,000
Marital deduction 900,000
Charitable deduction 110,000
Gifts made after 1976 130,000
State death taxes payable 165,000
What is T taxable estate?