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American College HS330 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Trusts | - Trust taxation and control
|
| Estate and Gift Taxation | - Gift tax rules
|
| Wills and Probate | - Wills
|
| Property Transfer and Liquidity Planning | - Estate liquidity strategies
|
| Introduction to Estate Planning | - Purpose and objectives of estate planning
|
American College Fundamentals of Estate Planning test Sample Questions:
1. Which of the following areas of consideration present common ethical issues for the estate planner?
A) Consistency
B) Contracts
C) Compatibility
D) Compensation
2. Many trust instruments provide for the removal of the original trustee. Valid reasons for removing the original trustee include which of the following?
1.A shift in trust situs is desirable because of changes in law.
2.The beneficiary has moved his or her residence to a distant state.
A) Neither 1 nor 2
B) Both 1 and 2
C) 2 only
D) 1 only
3. Important factors in assessing liquidity needs in estate planning include which of the following?
1.The types of assets that comprise the estate
2.The date of drafting the will
A) Neither 1 nor 2
B) Both 1 and 2
C) 2 only
D) 1 only
4. Many trust instruments provide for the removal of the original trustee. Valid reasons for removing the original trustee include which of the following?
1.A shift in trust situs is desirable because of changes in law.
2.The beneficiary has moved his or her residence to a distant state.
A) Neither 1 nor 2
B) Both 1 and 2
C) 2 only
D) 1 only
5. Having a will enables an individual to do which of the following?
1.Make testamentary bequests to selected charitable organizations
2.Make specific bequests to selected friends
A) Neither 1 nor 2
B) Both 1 and 2
C) 2 only
D) 1 only
Solutions:
| Question # 1 Answer: D | Question # 2 Answer: B | Question # 3 Answer: D | Question # 4 Answer: B | Question # 5 Answer: B |
