American College HS330 Exam Dumps

Get All Fundamentals of Estate Planning test Exam Questions with Validated Answers

HS330 Pack
Vendor: American College
Exam Code: HS330
Exam Name: Fundamentals of Estate Planning test
Exam Questions: 400
Last Updated: November 20, 2025
Related Certifications: Chartered Financial Consultant
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Free American College HS330 Exam Actual Questions

Question No. 1

All the following items of property will be included in a decedent's gross estate for federal estate tax purposes EXCEPT:

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Correct Answer: B

Question No. 2

Which of the following statements concerning the generation-skipping transfer tax (GSTT) is (are) correct?

1. An annual exclusion against GSTT will shelter gifts by a grandparent to a trust benefiting multiple grandchildren.

2. Tuition payments made directly by a grandparent to a university for a grandchild's education are exempt from GSTT.

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Correct Answer: B

Question No. 3

Which of the following statements concerning the obligation of the personal representative of a decedent to file a federal estate tax return is (are) correct?

l. A return must be filed by a decedent's estate if the gross estate plus adjusted taxable gifts equals the applicable exclusion amount or more, even though no federal estate tax is due.

ll. Unless extensions are granted, the return must be tiled and the tax paid within 9 months of the decedent's death.

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Correct Answer: C

Question No. 4

Alan, a widower, is a retired executive with substantial assets. He wishes to provide for the financial security of his two grandchildren since their father, Alan's son, has always managed money poorly. This year Alan would like to provide each grandchild with a substantial gift. Which of the following statements concerning the impact of the generation-skipping transfer tax (GSTT) on these transfers is correct?

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Correct Answer: D

Question No. 5

All the following are characteristics of a buy-sell agreement EXCEPT :

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Correct Answer: A

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