Marital Deductions - Sample Questions 1 - 4
1. Which of the following are required in order to utilize the marital deduction?
(1) Spouse must be a U.S citizen.
(2) Property passing to the spouse must be included in the decedent's gross estate.
(3) Decedent must be married for at least five years.
(4) Decedent must be legally married at time of death.
(5) Spouse must file a gift tax return for the property received.
A) 1, 2, 3 only
B) 2, 4 and 5 only
C) 1, 2 and 4 only
D) All of the above
2. Which of the following are advantages of a Qualified Domestic Trust (QDOT)?
I. Taxes are paid at the death of the first spouse.
II. Taxes are delayed until the death of the surviving spouse.
III. This trust provides assets for the non-U.S. citizen spouse.
IV. Allows the non-citizen spouse to qualify for the marital deduction.
A) I and III only
B) II, III and IV only
C) I and IV only
D) II and III only
3. Which of the following is not a method of leaving assets to a spouse under the marital deduction?
A) Naming your spouse as an IRA beneficiary
B) Power of appointment
C) QTIP trust
D) Specific outright bequest
4. All of the following are exceptions to the terminal interest rule, EXCEPT:
A) QTIP income for life
B) General power of appointment
C) Property that reverts to the children if surviving spouse remarries
D) CRAT beneficiary
Mutual Funds & ETFsLearn about the characteristics and suitability of the top inflation-protected bond mutual funds, and how investors can use these funds to their advantage.
Investing BasicsInvestors benefit when company research incorporates seasonality trends that predict relative strength and weakness throughout the calendar year.
InvestingWe are still unsure of how to implement a currency hedge strategy based on the dollar's movement. So let’s focus on what’s easier to measure: time horizon.
Mutual Funds & ETFsExplore detailed analysis of the top three equity energy mutual funds, and learn about the characteristics and suitability of these funds.
Mutual Funds & ETFsDiscover detailed analysis of the top three mutual funds offering exposure to the emerging markets bonds, and learn about the suitability of these funds.
Stock AnalysisExamine the current state of Netflix Inc., and learn about three of the major fundamental risks that the company is currently facing.
Mutual Funds & ETFsLearn about the top three metals and mining exchange-traded funds (ETFs), and explore analyses of their characteristics and how investors can benefit from these ETFs.
ProfessionalsUnderstand the differences between a career in financial planning and wealth management, and identify which is better for you based on your goals and talents.
Mutual Funds & ETFsDiscover analyses of the top three California municipal bond mutual funds, and learn about their characteristics, historical performance and suitability.
Mutual Funds & ETFsFind out why mutual funds are not insured by the FDIC, including why the FDIC was created and how to minimize your risk with educated mutual fund investments.
The excess return that investing in the stock market provides ...
The amount of risk that an insurance company retains after subtracting ...
Coverage that provides financial protection to investors, financial ...
The maximum loss from a peak to a trough of a portfolio, before ...
The absolute level of a fund's investments.
A technique used by insurance companies to calculate loss reserves.
Like all securities, mutual funds are subject to market, or systematic, risk. This is because there is no way to predict ... Read Full Answer >>
Mutual funds have become an incredibly popular option for a wide variety of investors. This is primarily due to the automatic ... Read Full Answer >>
While your auto insurance company cannot pull your full motor vehicle report, or MVR, it does pull a record summary that ... Read Full Answer >>
While the majority of financial advisors work for financial institutions such as banks, a large proportion of them are self-employed ... Read Full Answer >>
The Federal Deposit Insurance Corporation, or FDIC, is a government-run agency that provides protection against losses if ... Read Full Answer >>
The rise of index trading may increase the overall vulnerability of the stock market due to increased correlations between ... Read Full Answer >>