Reference no: EM132932423

Problem 1: The taxable estate for federal estate tax purposes is calculated in the following manner:

A) Gross estate less allowable expenses less the federal estate tax exclusion amount

B) Gross estate less a conservation easement less allowable deductions

C) Gross estate less allowable expenses less only the charitable deduction

D) Gross estate less the federal estate tax exclusion amount less the marital deduction

Problem 2: All of the following reduces the value of the estate which is subject to estate tax except:

A) The marital deduction

B) The federal estate tax exemption amount

C) Funeral and administration expenses

D) All of the above reduces the value of the estate subject to tax

Problem 3: As a general rule, the estate tax must be paid:

A) 9 months after the date of death

B) In installments over 14 years

C) 9 months after the estate has been probated

D) 9 months after the funeral