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American College HS330 Exam Questions
- Topic 1: Estate Planning Concepts: Professionals who want to validate their skills in financial planning and legal industries through the HS330 exam must cover sub-topics related to asset protection strategies, trusts, wills, and probate.
- Topic 2: Legal Principles: This topic of the American College Fundamentals of Estate Planning exam focuses on contract law, property law, estate planning, and trust law. Professionals in the financial planning and legal industries must demonstrate their proficiency in identifying potential legal issues and creating effective estate planning documents.
- Topic 3: Tax Laws: In this topic, aspiring American College financial planning and legal industries professionals learn about complex tax laws. These laws are related to gift and estate, and estate planning.
- Topic 4: Financial Planning Strategies: This topic of the HS330 exam is all about financial planning strategies. The exam covers investment planning, risk management, and asset allocation.
Free American College HS330 Exam Actual Questions
Note: Premium Questions for HS330 were last updated On Jun. 22, 2025 (see below)
Mr. Barlow died early this year. Under the terms of his will he left all his real estate and tangible personal property to his son. All the remainder of his probate estate was left to his wife, Mrs. Barlow. The following is a list of Mr. Barlow's probate assets and their fair market values at the time of his death:
Commercial real estate $150,000
Furniture and fixtures 75,000
Listed common stock 300,000
Other securities 200,000
In addition, Mr. Barlow also owned a $1 00,000 life insurance policy on his life with Mrs. Barlow designated as beneficiary. Based on this information, what is the amount of property in Mr. Barlow's estate qualifying for the federal estate tax marital deduction?
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 $3200
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?
Items that are deductions from a decedent's gross estate in determining his adjusted gross estate include which of the following?
1. Foreign death taxes
2. State death taxes
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 $3200
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 father died leaving his property equally to his wealthy son and his poor daughter. The son wishes to disclaim his share of the inheritance so that it will pass to his sister without his incurring any gift tax liability. In this situation, all the following acts on the part of the son are required EXCEPT:
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