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American College Fundamentals of Estate Planning Test HS330 Dumps in PDF

Free American College HS330 Real Questions (page: 2)

Page 2 of 81 HS330 PDF — 400 Questions

QUESTION: 6

Which of the following terms applies to the blending together of separate and community properties of spouses in community-property states?

Inception
Transmutation
Commingling
Proration

Answer(s): C

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QUESTION: 7

All the following statements concerning wills are correct EXCEPT:

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

Answer(s): A

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QUESTION: 8

If a grantor establishes an irrevocable trust, the income of the trust will be taxed to the grantor if it is used to pay premiums for life insurance on the life of

a child of the grantor
the father of the grantor
the spouse of the grantor
a grandchild of the grantor

Answer(s): C

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QUESTION: 9

Which of the following statements concerning ownership of property in the form of a joint tenancy with right of survivorship is correct?

Qualified joint tenancies cannot be severed without mutual consent.
Upon the death of a joint tenant, the surviving joint tenant receives the decedent's interest by operation of law.
Nonqualified joint tenants may have unequal interests in the property.
This form of ownership is limited to real property.

Answer(s): B

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QUESTION: 10

Which of the following statements concerning executors is correct?

An executor can be given broad and discretionary powers with respect to the management of the estate.
All executors must post bonds.
The executor must be a licensed attorney in the decedent's state of domicile.
The executor named in the will of a deceased person is automatically authorized to act.

Answer(s): A

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Dave Gregen

9/4/2023 3:17:00 PM

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Sarah

6/13/2023 1:42:00 PM

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Shuv

10/3/2023 8:19:00 AM

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8/22/2023 4:39:00 PM

question #3 refers to vnet4 and vnet5. however, there is no vnet5 listed in the case study (testlet 2).

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Sumita Bose

7/21/2023 1:01:00 AM

qs 4 answer seems wrong- please check

A

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9/7/2023 12:53:00 AM

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9/20/2023 11:15:00 AM

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SK

7/15/2023 3:51:00 AM

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Anorag

9/6/2023 9:24:00 AM

i just wrote this exam and it is still valid. the questions are exactly the same but there are about 4 or 5 questions that are answered incorrectly. so watch out for those. best of luck with your exam.

N

Nathan

1/10/2023 3:54:00 PM

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1

1

10/28/2023 7:32:00 AM

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A

Anand

1/20/2024 10:36:00 AM

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6/23/2023 1:07:00 PM

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11/15/2023 3:01:00 AM

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1/17/2024 3:00:00 PM

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LOL what a joke

9/10/2023 9:09:00 AM

some of the answers are incorrect, i would be wary of using this until an admin goes back and reviews all the answers

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