Tfa Study guides, Class notes & Summaries

Cannon CTFA Prep Questions with complete Answers 2023 Jean and John Simmons are married and own their own home as tenants by entirety. When John dies the home is valued at $350,000. How much will be counted in his gross taxable estate? A. None, as it passes directly to his spouse, Jean. B. $175,000 - or one-half of the value C. $225,000 - or the full amount minus the $125,000 one-time exclusion for capital gains on a person residence. D. $350,000 - the full amount is includable. B. $175,...

This is a test - Answer-Test Nyu student - Answer-Steven Rules governing the actions of a trustee are determined by: - Answer-Governing Trust instrument State Trust Law Federal laws such as federal tax & environmental laws Legal title to trust property is vested in: - Answer-Trustee Equitable title to trust property is held by: - Answer-Beneficiaries Can settlor create trust by oral expression of intent? - Answer-Yes When a settlor creates a trust declaring herself or himself as a truste...

CTFA STUDY EXAM QUESTIONS & ANSWERS 2024 What is a J curve - ANSWER-The return pattern of private equity funds. The cumulative return is negative in the early life of a bond before turning positive. This is because in the early life of a private equity fund there are expenses incurred in the search for attractive investments but there are not any investments to generate returns. True or false? Private equity investing is an excellent source of liquidity. - ANSWER-False. Since private equ...

Tangible Personal Property personal property that can be moved (ex. gold bar, jewelry) Probate Estate the property of a decedent that is subject to administration by the executor or administrator of an estate Under joint tenants with rights of survivorship, when one tenant dies which of the following best describes the result? Her share passes to the surviving joint tenant regardless of what her will says In cutting down a tree, which of the following occurs? Real proper...

CTFA - Fiduciary & Trust Activities.

"Constructive Receipt" is normally applicable to the tax treatment of... Non-Qualified Deferred Compensation Plans Non-Qualified Deferred Compensation TCHRA: Compensation that is not immediately taxable. It does not qualify under ERISA for tax exemption. Taxation occurs once the individual receives the compensation or "property" A 1035 exchange refers to a tax free exchange of... Annuities 1035 Exchange IRS allows tax-free transfer of cash values between 2 LIKE polic...

CTFA Exam Questions & Answers 2024 Test - ANSWER-This is a test Steven - ANSWER-Nyu student Governing Trust instrument State Trust Law Federal laws such as federal tax & environmental laws - ANSWER-Rules governing the actions of a trustee are determined by: Trustee - ANSWER-Legal title to trust property is vested in: Beneficiaries - ANSWER-Equitable title to trust property is held by: Yes - ANSWER-Can settlor create trust by oral expression of intent? Express Trust - ANS...

Jean and John Simmons are married and own their own home as tenants by entirety. When John dies the home is valued at $350,000. How much will be counted in his gross taxable estate? A. None, as it passes directly to his spouse, Jean. B. $175,000 - or one-half of the value C. $225,000 - or the full amount minus the $125,000 one-time exclusion for capital gains on a person residence. D. $350,000 - the full amount is includable. : B. $175,000 - or one-half the value Once a will is prope...

"Constructive Receipt" is normally applicable to the tax treatment of... : Non-Qualified Deferred Compensation Plans Non-Qualified Deferred Compensation : TCHRA: Compensation that is not immediately taxable. It does not qualify under ERISA for tax exemption. Taxation occurs once the individual receives the compensation or "property" A 1035 exchange refers to a tax free exchange of... : Annuities 1035 Exchange : IRS allows tax-free transfer of cash values between 2 LIKE policies (i...