American College Fundamentals of Estate Planning Test HS330 Dumps in PDF

Free American College HS330 Real Questions (page: 5)

A father plans to create a trust for the benefit of his 22-year-old son and wishes to take advantage of the gift tax annual exclusion. He has named a bank as trustee. Which of the following trust provisions would cause the gifts to be ineligible to qualify for the gift tax annual exclusion?

1. The trust income is to be paid to the son or accumulated at the discretion of the trustee.
2. The income is to be accumulated until the son reaches age 32 when all accumulated income and principal are to be distributed to him.

  1. 1 only
  2. Neither 1 nor 2
  3. Both 1 and 2
  4. 2 only

Answer(s): C



Which of the following statements concerning the inclusion and valuation of all or part of a commercial annuity in the estate of an annuitant is (are) correct?

1. A life annuity with a period certain is includible to the extent of the present value of any
remaining guaranteed payments.
2. If the executor elects the alternate valuation date, an annuity is includible at its replacement cost 6 months after death.

  1. Neither 1 nor 2
  2. Both 1 and 2
  3. 2 only
  4. 1 only

Answer(s): D



Generally all the following statements concerning life insurance arrangements for partnership buy sell agreements are correct EXCEPT:

  1. With an entity-purchase agreement the formula used for determining the number of life insurance policies needed is N (number of partners) + 1.
  2. With an entity-purchase agreement the partnership strives to maintain face amounts of coverage equal to its obligations under the agreement.
  3. With a cross-purchase agreement each partner purchases life insurance on the life of each of the other partners.
  4. With a cross-purchase agreement the individual partners are the applicants, owners, beneficiaries and premium-payers of the policies.

Answer(s): A



Which of the following statements concerning a testamentary trust is correct?

  1. It becomes effective only at the death of the grantor.
  2. It saves federal and state death taxes at the death of the grantor.
  3. The trust terms must be included in the will.
  4. The assets in the trust are free of probate costs.

Answer(s): A



Ignoring the annual per-donee exclusion, which of the following transfers is a gift for federal gift tax purposes?

  1. A creditor cancels the promissory note of a recently unemployed friend as a charitable gesture.
  2. A father promises to buy his daughter a condominium when she finishes college.
  3. A grandmother pays her grandson's $30,000 tuition at an Ivy League university.
  4. An individual gratuitously performs valuable services for the benefit of a close friend.

Answer(s): A



Share your comments for American College HS330 exam with other users:

N
Nagendra Pedipina
7/12/2023 9:10:00 AM

q:37 c is correct

J
John
9/16/2023 9:37:00 PM

q6 exam topic: terramearth, c: correct answer: copy 1petabyte to encrypted usb device ???

S
SAM
12/4/2023 12:56:00 AM

explained answers

A
Andy
12/26/2023 9:35:00 PM

plan to take theaws certified developer - associate dva-c02 in the next few weeks

S
siva
5/17/2023 12:32:00 AM

very helpfull

M
mouna
9/27/2023 8:53:00 AM

good questions

B
Bhavya
9/12/2023 7:18:00 AM

help to practice csa exam

M
Malik
9/28/2023 1:09:00 PM

nice tip and well documented

R
rodrigo
6/22/2023 7:55:00 AM

i need the exam

D
Dan
6/29/2023 1:53:00 PM

please upload

A
Ale M
11/22/2023 6:38:00 PM

prepping for fsc exam

A
ahmad hassan
9/6/2023 3:26:00 AM

pd1 with great experience

Ž
Žarko
9/5/2023 3:35:00 AM

@t it seems like azure service bus message quesues could be the best solution

S
Shiji
10/15/2023 1:08:00 PM

helpful to check your understanding.

D
Da Costa
8/27/2023 11:43:00 AM

question 128 the answer should be static not auto

B
bot
7/26/2023 6:45:00 PM

more comments here

K
Kaleemullah
12/31/2023 1:35:00 AM

great support to appear for exams

B
Bsmaind
8/20/2023 9:26:00 AM

useful dumps

B
Blessious Phiri
8/13/2023 8:37:00 AM

making progress

N
Nabla
9/17/2023 10:20:00 AM

q31 answer should be d i think

V
vladputin
7/20/2023 5:00:00 AM

is this real?

N
Nick W
9/29/2023 7:32:00 AM

q10: c and f are also true. q11: this is outdated. you no longer need ownership on a pipe to operate it

N
Naveed
8/28/2023 2:48:00 AM

good questions with simple explanation

C
cert
9/24/2023 4:53:00 PM

admin guide (windows) respond to malicious causality chains. when the cortex xdr agent identifies a remote network connection that attempts to perform malicious activity—such as encrypting endpoint files—the agent can automatically block the ip address to close all existing communication and block new connections from this ip address to the endpoint. when cortex xdrblocks an ip address per endpoint, that address remains blocked throughout all agent profiles and policies, including any host-firewall policy rules. you can view the list of all blocked ip addresses per endpoint from the action center, as well as unblock them to re-enable communication as appropriate. this module is supported with cortex xdr agent 7.3.0 and later. select the action mode to take when the cortex xdr agent detects remote malicious causality chains: enabled (default)—terminate connection and block ip address of the remote connection. disabled—do not block remote ip addresses. to allow specific and known s

Y
Yves
8/29/2023 8:46:00 PM

very inciting

M
Miguel
10/16/2023 11:18:00 AM

question 5, it seems a instead of d, because: - care plan = case - patient = person account - product = product2;

B
Byset
9/25/2023 12:49:00 AM

it look like real one

D
Debabrata Das
8/28/2023 8:42:00 AM

i am taking oracle fcc certification test next two days, pls share question dumps

N
nITA KALE
8/22/2023 1:57:00 AM

i need dumps

C
CV
9/9/2023 1:54:00 PM

its time to comptia sec+

S
SkepticReader
8/1/2023 8:51:00 AM

question 35 has an answer for a different question. i believe the answer is "a" because it shut off the firewall. "0" in registry data means that its false (aka off).

N
Nabin
10/16/2023 4:58:00 AM

helpful content

B
Blessious Phiri
8/15/2023 3:19:00 PM

oracle 19c is complex db

S
Sreenivas
10/24/2023 12:59:00 AM

helpful for practice

AI Tutor 👋 I’m here to help!