Lesson Three Quiz:

Click on your response for the correct answer.

1. Estate depletion can result from:

A. federal estate tax Please try again.

B. costs of estate administration Please try again.

C. both A and B Congratulations, correct answer.

2. For estate tax purposes, your assets are valued at:

A. your original cost for each item Please try again.

B. their date of death value (generally) Congratulations, correct answer.

C. the amount estimated by IRS Please try again.

3. These estate assets may create income tax liability for heirs, unless left to charity:

A. cash Please try again.

B. savings bonds and IRAs Congratulations, correct answer.

C. assets that have declined in value Please try again.

4. A 100% estate tax deduction shelters bequests to:

A. minor children or grandchildren Please try again.

B. family pets Please try again.

C. spouses and charities Congratulations, correct answer.

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