HS330 is an American College certification exam, so HS330 is the first step to set foot on the road of American College certification. HS330 certification exam become more and more fiery and more and more people participate in HS330 exam, but passing rate of HS330 certification exam is not very high.When you select HS330 exam, do you want to choose an exam training courses?

Pass4Test not only provide the products which have high quality to each candidate, but also provides a comprehensive after-sales service. If you are using our products, we will let you enjoy one year of free updates. So that you can get the latest exam information in time. We will be use the greatest efficiency to service each candidate.

American College HS330 exam is very popular in IT field. Having HS330 certificate is the best for those people who want to be promoted and is also a valid selection. And with the aid of HS330 certification test, you can improve your skills and master some useful techniques in your job so that you can finish your work better and demonstrate your great ability before other people. Only in this way can you get more development opportunities.

Are you worried about how to passs the terrible American College HS330 exam? Do not worry, With Pass4Test's American College HS330 exam training materials in hand, any IT certification exam will become very easy. Pass4Test's American College HS330 exam training materials is a pioneer in the American College HS330 exam certification preparation.

Exam Code: HS330
Exam Name: Fundamentals of Estate Planning test
One year free update, No help, Full refund!
HS330 Test Questions Total Q&A: 400 Questions and Answers
Last Update: 2014-05-16

HS330 Exam Dumps Detail : Click Here

Don't you want to make a splendid achievement in your career? Certainly hope so. Then it is necessary to constantly improve yourself. Working in the IT industry, what should you do to improve yourself? In fact, it is a good method to improve yourself by taking IT certification exams and getting IT certificate. American College certificate is very important certificate, so more and more people choose to attend American College certification exam.

HS330 Free Demo Download: http://www.pass4test.com/HS330.html

NO.1 The following are facts concerning a decedent's estate:
An executor elects to value the assets of the estate at the alternative valuation date 6 months after death.
Which of the following statements concerning the estate tax value of assets included in this estate is
correct?
Taxable estate $1,700,000
Pre-1977 taxable gifts 200,000
Post-1976 adjusted taxable gifts 50,000
Post-1976 gifts made to a qualified
charity
100,000
The tentative tax base of this estate is
A. $1,700,000
B. $1,750,000
C. $1,850,000
D. $1,900,000
Answer: B

American College Exam Tests   HS330 Exam PDF   HS330 dumps torrent   HS330 Practice Exam
A. An annuity included in the gross estate that diminishes with the mere passage of time is includible at
the date of death value.
B. Property sold before the alternate valuation date is valued at the alternate valuation date.
C. Property that has increased in value since the date of death may be valued at the date of death if the
executor so elects.
D. Property distributed under the will before the alternate valuation date is valued at the date of death.
Answer:A

American College Exam Questions   HS330 exam   HS330 test questions   HS330 dumps   HS330   HS330
4. A father and son have been farming land owned by the father for the past 12 years. Just prior to his
death, the father was offered $1,200,000 for his farm because of its possible use as a shopping center.
The son would like to continue to farm the land if it can be included in his father's estate at its current use
value. Additional facts are:
1.Average annual gross rentals from nearby farms of similar acreage are $56,000.
2.Average annual state and local real estate taxes on the farm are $8,000.

NO.2 Which of the following is an example of a taxable gift for federal gift tax purposes?
A. A father gives his 19-year-old daughter a note promising to give her his Rolls Royce when she reaches
the age of 21.
B. Instead of parents paying an outside executive $60,000, a son runs their business for 8 months without
charging a fee.
C. The parents of a married son permit their son and his family to use a summer cottage that rents for
$3,000 per month on a rent-free basis.
D. A father cancels a $50,000 note his daughter gave him when he made a loan to her 2 years ago.
Answer: D

American College questions   HS330   HS330   HS330 Exam Prep   HS330 test questions

NO.3 The interest rate for loans from the Federal Land Bank is 8 percent.
For federal estate tax purposes, the farm method valuation formula would result in a current use value for
the farm of
A. $500,000
B. $600,000
C. $700,000
D. $820,000
Answer: B

American College dumps   HS330   HS330
5. Which of the following types of real property ownership will be deemed to be a tenancy in common?
A. Two brothers own equal amounts of all the common stock in a corporation, the only asset of which is
real property.
B. Two brothers own equal undivided interests in a piece of real property, with each brother being able to
divest himself of his interest by sale, gift, or will.
C. Two brothers are equal partners in a general partnership that owns a piece of real property used in the
partnership business.
D. Two brothers own equal fractional interests in a piece of real property and at the death of one of the
brothers the survivor will own the entire piece of property.
Answer: B

American College answers real questions   HS330 test questions   HS330 certification   HS330 Exam Cram
6. Which of the following statements concerning property ownership by a married couple residing in a
community-property state is correct?
A. All property owned by the couple is community property.
B. Community property loses its identity when a couple moves from a community-property state to a
common-law state.
C. Property inherited by one spouse during a marriage becomes community property.
D. Income earned by one spouse becomes community property.
Answer: D

American College   HS330   HS330 Exam Prep   HS330 PDF VCE   HS330 exam
7. Which of the following statements concerning a simple trust is correct?
A. Income and principal may be distributed to a qualified charity.
B. It receives a special tax deduction for income distributed to its beneficiaries.
C. Income is accumulated at the discretion of the trustee.
D. It limits the number of permissible beneficiaries.
Answer: B

American College test questions   HS330 Exam Cram   HS330 exam   HS330
8. On the advice of their attorney and accountant, Betsy and John have decided to make substantial
transfers. They would like to pass most of their considerable wealth to their grandchildren. Which of the
following statements concerning gifts made to their grandchildren is correct?
A. The GSTT annual exclusion may be utilized by Betsy and John for each grandchild during lifetime and
at death.
B. The value of Betsy and John's GSTT exemption amounts are slightly increased when used at death
rather than during lifetime.
C. The GSTT annual exclusion is unavailable for years in which Betsy and John make tuition gifts for the
grandchildren.
D. Betsy and John may elect to split any GSTT transfers to the grandchildren.
Answer: D

American College test   HS330 test questions   HS330 Test Questions
9.The decedent, D, died this year. The facts concerning D estate are:
On January 1, 2004 a father gave his daughter a $200,000 straight (ordinary) life insurance policy on his
life.
Premiums are paid annually. The pertinent facts about the policy are:
Date of issue: July 1, 1992
Premium paid on July 1, 2003 $3,200
Gross estate $3,400,000
Marital deduction 0
Charitable deduction 600,000
Funeral & administration
expenses
80,000
Gifts made after 1976 170,000
State death taxes payable 192,000
What is D taxable estate?
A. $2,138,000
B. $2,358,000
C. $2,528,000
D. $2,720,000
Answer: C

American College Exam PDF   HS330 Study Guide   HS330 Free download   HS330
10.Terminal reserve on July 1, 2003 20,000 Terminal reserve on July 1, 2004 24,000 What is the value of
the policy for federal gift tax purposes?
A. $ 21,600
B. $ 23,200
C. $ 23,600
D. $200,000
Answer: C

American College Practice Exam   HS330   HS330 Real Questions   HS330   HS330 Study Guide
11. A married man has two adult sons. His entire estate is in excess of $1,500,000 and consists entirely of
probate assets. He wants to make certain that if he predeceases his wife she will receive all estate
income as long as she lives, and the assets remaining at her death will pass equally to their two sons. He
wants to pass all assets to this wife and sons as free of federal estate taxes as possible. To best
accomplish these objectives, the man should include which of the following estate plans in his will?
A. Establish a QTIP trust for half his estate and bequeath the remainder to his wife
B. Establish a marital deduction trust with a general power of appointment for half his estate and place the
remainder in a QTIP trust
C. Establish a bypass trust equal to the applicable exclusion amount and place the remainder of his
estate in a QTIP trust
D. Establish a QTIP trust for his entire estate
Answer: C

American College Training online   HS330 Free download   HS330   HS330 dumps   HS330 pdf
12. Among the assets in a decedent's gross estate is stock in a closely held corporation that was left to a
nephew. The interest passing to the nephew is required to bear the burden of all estate taxes and
expenses. The relevant facts about this
estate are:
Adjusted gross estate $1,200,000
Fair market value of stock in the
closely held corporation 500,000
Administration and funeral
expenses
25,000
State inheritance taxes 40,000
Federal estate taxes 160,000
What amount of closely held corporate stock may be redeemed under IRC Section 303 so that the
redemption will be treated as a sale or exchange rather than a dividend distribution?
A. 0
B. $ 65,000
C. $225,000
D. $500,000
Answer: C

American College   HS330 demo   HS330   HS330 Dumps PDF
13. A married man died this year leaving a gross estate of $3,200,000. Additional facts concerning his
estate are: Administration expenses and debts $ 250,000 Marital deduction 1,200,000 Applicable credit
amount (2005) 555,800 Applicable exclusion amount (2005) 1,500,000 State death taxes payable 20,400
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 estate tax
payable is
A. 0
B. $103,320
C. $123,720
D. $128,280
Answer: B

American College exam dumps   HS330 Exam PDF   HS330 test
14. Which of the following statements concerning both estates and complex trusts is correct?
A. Both must have more than one beneficiary.
B. Both come into being by operation of law.
C. Both are monitored by the courts.
D. Both are required to file income tax returns.
Answer: D

American College Braindumps   HS330 VCE Dumps   HS330 demo   HS330   HS330
15. A widow made the following cash gifts during the current year: Donee Amount of Gift
A qualified charity $40,000
A close friend 30,000
Her sister 5,000
Her daughter 15,000
Her brother 10,000
The total amount of the taxable gifts made this year was
A. $23,000
B. $45,000
C. $52,000
D. $95,000
Answer:A

American College Practice Test   HS330   HS330 Dumps PDF   HS330 dumps
16. A man is planning to establish and fund a 20-year irrevocable trust for the benefit of his two sons,
aged 19 and 22, and plans to give the trustee power to sprinkle trust income. From the standpoint of
providing federal income, gift, and estate tax savings, which of the following would be the best choice of
trustee?
A. The grantor of the trust
B. The grantor's 70-year-old father
C. The grantor's 22-year-old son
D. A bank or trust company
Answer: D

American College Training online   HS330 test   HS330 study guide
17. A man died in February of this year. Last year, when he learned that he had a terminal illness, he
immediately made the following gifts and filed the required gift tax return:
Fair Market Value
Gift of listed stock to a
qualified charity $100,000
Gift of listed bonds to his wife 200,000
Gift of a boat to his son 10,000
Gift of a sports car to his daughter
10,000
What amount must be brought back to the man's estate as an adjusted taxable gift in the calculation of his
federal estate taxes?
A. 0
B. $ 90,000
C. $280,000
D. $320,000
Answer:A

American College Test Questions   HS330 practice test   HS330 questions   HS330 PDF VCE
18. A widower dies leaving a net probate estate of $300,000. At the time of his death, his descendants are
as follows:
A son, Joe, who has no children;
A deceased daughter, Mary, whose two children, Irene and Sally, survive; and
A daughter, Anne, who has one child, Harry
Assuming that the widower's will provides for the distribution of his assets in equal shares to his children,
per stirpes,
which of the following correctly states the amounts each descendant will receive?
A. $100,000 to Joe, $50,000 to Irene, $50,000 to Sally, and $100,000 to Anne
B. $100,000 to Joe, $50,000 to Irene, $50,000 to Sally, $50,000 to Anne, and $50,000 to Harry
C. $75,000 to Joe, $75,000 to Irene, $75,000 to Sally, and $75,000 to Anne
D. $60,000 to Joe, $60,000 to Irene, $60,000 to Sally, $60,000 to Anne, and $60,000 to Harry
Answer:A

American College   HS330 Actual Test   HS330
19. Which of the following areas of consideration present common ethical issues for the estate planner?
A. Contracts
B. Compatibility
C. Consistency
D. Compensation
Answer: D

American College questions   HS330 braindump   HS330   HS330 practice test   HS330 Study Guide
20. A father deeded a house as a gift to his daughter in 1990 but retained the right to live in it until his
death. He died this
year, while still living in the house. The following are relevant facts:
The father bought the property in 1980 for $140,000. The fair market value of the property when the gift
was made in
1990 was $170,000. The father filed a timely gift tax return but paid no gift tax because of the applicable
credit amount.
The fair market value of the property at the father's death was $200,000. The daughter sold the property 3
months after
her father's death for $200,000. She had a gain of
A. 0
B. $130,000
C. $160,000
D. $200,000
Answer:A

American College Test Questions   HS330 Braindumps   HS330 exam dumps   HS330