Accounting 175 - Estate Gift and Trust Taxation » Spring 2021 » Week 4 Test

Need help with your exam preparation?

Existing Quiz Clients Login here
Question #1
Once executed, a will can be revoked only by changing it or writing an entirely new will.
A.   FALSE
B.   TRUE
Question #2
An agent is required to help with the purchase of long-term care insurance.
A.   TRUE
B.   FALSE
Question #3
Which person is generally NOT automatically covered when the term children is used in a will?
A.   Stepchild
B.   Adopted child
C.   Non marital child
D.   Natural marital child
Question #4
Which is a tangible personal property?
A.   Cash
B.   Automobiles
C.   Vacation home
D.   Stocks and bonds
Question #5
Which is a Medicare qualified facility that specialized in skilled care or rehabilitation services under the supervision or license nurses and based on a doctors orders?
A.   Assisted living facility
B.   Nursing home
C.   Skilled nursing home facility
D.   Continuing care retirement community
Question #6
Which of the following is not covered by Medicare?
A.   Hospice care
B.   Long-term care expenses in a nursing home or at home
C.   Physician services
D.   Prescription drugs
Question #7
Which is NOT a way to accomplish revocation?
A.   By intent
B.   By subsequent writing
C.   By physical act
D.   By Operation of law
Question #8
Which part of a will names the person whom the testator wishes to care for his/her events of the testators death?
A.   Testamentary trust clause
B.   Appointment of personal and/or property guardian
C.   Provision for residue of estate
D.   testimonium clause
Question #9
The passage of an intestate decedents property to the state when there is no surviving blood relative or a spouse
A.   testacy
B.   escheat
C.   legacy and bequest
D.   succession
Question #10
What is the name of an orally made will?
A.   holographic will
B.   statutory will
C.   living will
D.   nuncupative will

Need help with your exam preparation?

Existing Quiz Clients Login here