American College HS330 Questions & Answers - in .pdf
- Total Q&A: 400
- Update: Jul 12, 2026
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- Vendor: American College
- Exam Code: HS330
- Exam Name: Fundamentals of Estate Planning test
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American College HS330 Q&A - Testing Engine
- Total Q&A: 400
- Update: Jul 12, 2026
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- Exam Code: HS330
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American College Fundamentals of Estate Planning test Sample Questions:
1. Which of the following statements concerning antenuptial agreements is (are) correct?
1.They are frequently used prior to second marriages.
2.They can affect a surviving spouse's right to receive an intestate share of a deceased spouse's estate.
A) Both 1 and 2
B) 2 only
C) 1 only
D) Neither 1 nor 2
2. All the following trust provisions avoid causing the inclusion of an irrevocable life insurance trust in an insured's gross estate EXCEPT
A) a trustee's power to pay estate expenses
B) a trust beneficiary's power to withdraw contributions to the trust
C) a trustee's power to purchase assets from the estate at the trustee's discretion
D) a trustee's power to loan assets to the estate at the trustee's discretion
3. All the following statements concerning a complex trust are correct EXCEPT:
A) Beneficiaries are taxed on their share of distributable net income when received by them.
B) The trustee may make distributions of principal to trust beneficiaries.
C) A complex trust may make gifts to charity.
D) Beneficiaries must receive all distributable net income in the year received by the trust.
4. The federal gift tax is
A) a tax on the right of the donor to make the gift
B) a tax on the right of thedonee to receive the property
C) a flat tax based on gifts made in any taxable year
D) levied directly on the gift
5. To qualify the seller of property for installment sale tax treatment, the transaction must meet which of the following conditions?
A) At least 30 percent of the purchase price must be paid in the year of sale.
B) There must be no more than ten installments.
C) The entire purchase price must not be paid in the taxable year of sale.
D) All installments must be in equal amounts of principal.
Solutions:
Question # 1
Answer: A | Question # 2
Answer: A | Question # 3
Answer: D | Question # 4
Answer: A | Question # 5
Answer: C |
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