It Training and Preparation Tests
American College
HS330 exam
Nov 19th
Fundamentals of Estate Planning test
Exam Number/Code : HS330
Exam Name : Fundamentals of Estate Planning test
Questions and Answers : 400 Q&As
Update Time: 2009-10-30
Price: $ 122.00
1. Which of the following is an example of a taxable gift for federal gift tax purposes?
A. A father gives his 19-year-old daughter a note promising to give her his Rolls Royce when she reaches the age of 21.
B. Instead of parents paying an outside executive $60,000, a son runs their business for 8 months without charging a fee.
C. The parents of a married son permit their son and his family to use a summer cottage that rents for $3,000 per month on a rent-free basis.
D. A father cancels a $50,000 note his daughter gave him when he made a loan to her 2 years ago.
Answer: D
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American College Fundamentals of Estate Planning test (American College
) Passing Score: Marks range from 300-1000 (last known passing score 849/1000)
Number of Questions: 45-80 Questions in 90 minutes Read the rest of this entry »