American College Fundamentals of Estate Planning test : HS330 valid dumps

HS330 real exams

Exam Code: HS330

Exam Name: Fundamentals of Estate Planning test

Updated: Mar 30, 2025

Q & A: 400 Questions and Answers

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American College Fundamentals of Estate Planning test Sample Questions:

1. The failure of an individual to have a will can result in all the following EXCEPT:

A) A surviving spouse receives only his or her elective share.
B) Unnecessary death taxes may be imposed.
C) Testamentary gifts to charity cannot be made.
D) The decedent's state of domicile might receive the property left by the decedent.


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

A) The amount of a charitable deduction may not exceed 50 percent of a decedent's adjusted gross estate.
B) The amount of a charitable deduction is reduced by any taxes and administrative expenses chargeable against the bequest.
C) An estate may deduct the value of the remainder interest in a charitable remainder trust.
D) 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.


3. Which of the following statements concerning property is correct?

A) A tree growing on land is tangible personal property.
B) A mortgage on real estate is real property.
C) A bond issue secured solelyby a corporation assets is tangible personal property.
D) Any property that is not real property is personal property.


4. A man recently died with only probate assets. Under the terms of his will, he left his entire probate estate outright to his wife. The following are relevant facts about the estate:
*Gross estate $2,000,000
*Estate administration expenses 50,000
*Debts of decedent 200,000
*Allowable funeral expenses 5,000
The amount of the allowable marital deduction is

A) $1,800,000
B) $1,750,000
C) $1,795,000
D) $1,745,000


5. Which of the following statements concerning both estates and complex trusts is correct?

A) Both are required to file income tax returns.
B) Both must have more than one beneficiary.
C) Both come into being by operation of law.
D) Both are monitored by the courts.


Solutions:

Question # 1
Answer: A
Question # 2
Answer: A
Question # 3
Answer: D
Question # 4
Answer: D
Question # 5
Answer: A

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