Final Exam

A  inheritance tax

B  Income tax

C  Estate tax

D  Gift tax

A  Letters of Special Administration

B  Inventory and appraisal of the personal property of the decedent

C  Order Approving the final account and report of the special administrator

D  Oder Granting Special Administration

A  Mailing a copy of the notice at least seven days before the time set for the hearing.

B  Personally delivering a copy of the notice 14 days prior to the hearing.

C  Publishing the notice in the newspaper at least 14 days prior to the hearing.

D  Publishing the notice in the newspaper every other week for a month if the identity of interested parties is unknown

A  The descendant was employed prior to his/her death

B  The surviving spouse remarried before the close of the year.

C  The surviving spouse agrees to file a joint return

D  The surviving spouse lives in a different state

A  Private or public trusts

B  Inter vivos or testamentary trusts

C  Active or passive trusts

D  Implied or non implied trusts

A  The settlor, trustee and benficiary are three different people

B  The settlor is also the beneficiary and another person is the trustee

C  The settlor, is also a co-trustee and a co-beneficiary

D  The settlor is also the trustee and beneficiary

A  The computation and filing of a state inheritance tax return or waiver

B  Notice to creditors

C  The hearing on creditors’ claims and payment of allowed or approved claims

D  The opening of a safe deposit box

A  A copy of the affidavit was mailed to all distributes of the estate.

B  A notice to creditors was published more than six months, before the date of the affidavit.

C  All assets of the estate have been distributed in full to the persons entitled to them.

D  All federal and state taxes have been paid.

A  Real or personal property

B  One or more trustees

C  One or more beneficiaries

D  A sale or gift property

A  State Estate Tax Return

B  Federal Individual Income Tax Return

C  Federal Sales Tax Return

D  State Individual Tax Return

A  TRUE

B  FALSE

A  FALSE

B  TRUE

A  TRUE

B  FALSE

A  FALSE

B  TRUE

A  FALSE

B  TRUE

A  TRUE

B  FALSE

A  TRUE

B  FALSE

A  TRUE

B  FALSE

A  FALSE

B  TRUE

A  FALSE

B  TRUE