American College HS330 Valid Dump : Fundamentals of Estate Planning test

HS330 real exams

Exam Code: HS330

Exam Name: Fundamentals of Estate Planning test

Updated: Jun 19, 2026

Q & A: 400 Questions and Answers

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American College Fundamentals of Estate Planning test Sample Questions:

1. An individual who is a resident of State W is also the sole proprietor of a business located in State
W. He owns real property located in State X that is used by the proprietorship. While on vacation in State Y, the individual meets an untimely death. Under the terms of his will, his entire estate is bequeathed to a resident of State Z.
Which state will tax the real property used by the proprietorship?

A) State Y
B) State W
C) State X
D) State Z


2. A married man died this year leaving a gross estate of $2,700,000. Some additional facts concerning his estate are:
1.Administration expenses and debts $300,000
2.Marital deduction 800,000
3.Applicable credit amount (2005) 555,800
4.Applicable exclusion amount (2005) 1,500,000
5.State death taxes payable 17,700
Under the Unified Rate Schedule for computing estate taxes if the amount with respect to which the tentative tax to be computed is over $1,000,000 but not over $1,250,000, the tentative tax is $345,800, plus 41 percent of the excess of such amount over $1,000,000. If the amount is over $1,250,000 but not over $1,500,000, the tentative tax is then $448,300, plus 43 percent of the excess of such amount over $1,250,000. If the amount is over $1,500,000 but not over $2,000,000 the tentative tax is then $555,800 plus 45% of the excess of such amount over $1,500,000. Based on these facts, the net federal tax payable is

A) $47,065
B) $42,865
C) $37,035
D) 0


3. All the following statements concerning real property ownership by married couples as joint tenants with right of survivorship are correct EXCEPT:

A) All benefits of ownership remain available to the surviving spouse without interruption during the administration of the deceased spouse's estate.
B) In common-law states the total value of the property receives a stepped-up tax basis in the estate of the first spouse to die.
C) The deceased spouse's interest in the property qualifies for the marital deduction since it passes outright to the surviving spouse.
D) Jointly held property between spouses does not pass through the probate estate of the first spouse to die.


4. Which of the following transactions is a taxable gift for federal gift tax purposes?

A) A man deeded real estate to his sister but did not record the deed nor did he deliver the deed to his sister.
B) A father made a deposit of $100,000 into a bank account titled jointly with his son, and the son has not yet made any withdrawals.
C) A grandmother purchased a U.S. savings bond that is registered as payable to her and her two grandchildren and the bond has not yet been surrendered for cash.
D) A mother purchased listed common stocks titling them in joint names with her daughter and the stocks have not yet been sold.


5. All the following statements concerning wills are correct EXCEPT:

A) A codicil is a valid modification of a will.
B) In most states a surviving spouse can elect against a will that completely disinherits him or her.
C) A testator may lose the capacity to revoke a will prior to death.
D) Once a person is named as an executor in awill, he or she is required to serve.


Solutions:

Question # 1
Answer: C
Question # 2
Answer: C
Question # 3
Answer: B
Question # 4
Answer: D
Question # 5
Answer: D

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