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American College HS330 dumps torrent : Fundamentals of Estate Planning test
- Exam Code: HS330
- Exam Name: Fundamentals of Estate Planning test
- Updated: Sep 15, 2026 Q & A: 400 Questions and Answers
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American College HS330 Exam Syllabus Topics:
| Section | Objectives |
|---|---|
| Legal Principles | - Legal Principles
|
| Tax Laws | - Tax Laws
|
| Estate Planning Concepts | - Estate Planning Concepts
|
| Financial Planning Strategies | - Financial Planning Strategies
|
American College Fundamentals of Estate Planning test Sample Questions:
Question #1
Many trust instruments provide for the removal of the original trustee. All the following are valid reasons for removal of a trustee EXCEPT:
- A. The beneficiary is not able to get along with the present corporate trustee.
- B. A shift in trustsitus is desirable because of changes in law.
- C. The beneficiary has been successful with investments and wants to manage the trust assets.
- D. The beneficiary has moved his or her residence to a distant state.
Correct Answer: C 🗳️
Question #2
To determine whether a taxable gift has been made, the IRS focuses on all the following factors EXCEPT:
- A. Was the value of the gift property in excess of the annual per-donee exclusion?
- B. Was the transferred property real property or personal property?
- C. Was the property transferred for less than an adequate and full consideration in money or money's worth?
- D. Did the donor absolutely, irrevocably, and currently divest himself of dominion and control over the property?
Correct Answer: B 🗳️
Question #3
Which of the following items of property will be included in a decedent's gross estate for federal estate tax purposes?
1.The value of property subject to a general power of appointment that the decedent possessed at death
2.The value of all gratuitous lifetime transfers of property made within 3 years of death
- A. Neither 1 nor 2
- B. 2 only
- C. 1 only
- D. Both 1 and 2
Correct Answer: C 🗳️
Question #4
All the following transfers are subject to the generation-skipping transfer tax (GSTT) EXCEPT:
- A. A direct cash payment of $28,000 from a grandparent to a private prep school to cover the tuition costs for her grandchild.
- B. A termination of a trust at the death of thenonskip life income beneficiary with the remainder distributed solely to skip persons.
- C. A direct cash gift of $50,000 from a grandparent to his grandchild if such grandchild's parents are still alive.
- D. A distribution to a grandchild from a sprinkle trust created by a grandparent to benefit both skip and non-skip beneficiaries.
Correct Answer: A 🗳️
Question #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. 2 only
- C. 1 only
- D. Both 1 and 2
Correct Answer: D 🗳️
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