American College HS330 問題集

質問 1：
A father wants to accumulate funds for his 12-year-old son's college education. On the advice of his attorney, the father establishes an IRC Section 2503(c) trust and funds it with annual gifts. All the following statements concerning this arrangement are correct EXCEPT:
A. The trust must be irrevocable.
B. Any accumulated income and all trust principal must be available for distribution to the son when he attains age 21.
C. In the event of the son's death prior to age 21, trust assets must either be payable to the son's estate or be subject to a general power of appointment held by the son.
D. The father's annual gift tax exclusion must be reduced by any amount used to pay college tuition costs.
正解：D

質問 2：
All the following factors are important in assessing liquidity needs in estate planning EXCEPT the
A. marital status of the testator
B. ages of the residuary estate beneficiaries
C. types of assets that comprise the estate
D. projected estate tax liability
正解：B

質問 3：
A man died in February of this year. Last year, when he learned that he had terminal illness, he immediately made the following gifts and filed the required gift tax return:
Fair Market Value Gift of listed stock to
*a qualified charity $200,000
*Gift of listed bonds to his wife 300,000
*Gift of a boat to his son 10,000
*Gift of a sports car to his daughter 10,000
What amount must be brought back to the man's estate as an adjusted taxable gift in the calculation of his federal estate taxes?
A. 0
B. $200,000
C. $520,000
D. $290,000
正解：A

質問 4：
When the owner of a closely held business dies, the payment of a portion of the federal estate tax may be deferred for a period of several years if the estate otherwise qualifies under the provisions of IRC Section 6166. Which of the following statements concerning this deferral of federal estate tax is correct?
A. The interest on the unpaid estate tax is payable over the first 10 years, after which the tax plus interest on the balance is payable in equal installments for the last 5 years.
B. The interest rate on the deferred tax is determined by the prime rate in effect on the date of death.
C. Under certain circumstances, the estate will forfeit its right to tax deferral, and all the remaining unpaid estate tax will become due and payable immediately.
D. To qualify for the tax deferral, the closely held business must represent more than 50 percent of the value of the decedent's adjusted gross estate.
正解：C

質問 5：
A father died leaving his property equally to his wealthy son and his poor daughter. The son wishes to disclaim his share of the inheritance so that it will pass to his sister without his incurring any gift tax liability. In this situation, all the following acts on the part of the son are required EXCEPT:
A. His refusal to accept the inheritance must direct specifically that his sister is to receive it instead.
B. His refusal to accept the inheritance must be received by the executor of his father's estate within 9 months of his father's death.
C. His refusal to accept the inheritance must be in writing.
D. He must not have received any part of his inheritance or any income from it prior to his refusal to accept it.
正解：A

質問 6：
All the following statements concerning an estate for a term of years are correct EXCEPT:
A. An interest may extend beyond the lifetime of the grantor.
B. It is an interest in property established for a specific duration.
C. The tenant may transfer the property at the end of the term of his interest.
D. The tenant has the right to possess the property during the term of his interest.
正解：C