Weber State University

Lesson Three Quiz:
Click on your response for the correct answer.

1. “Estate shrinkage” can result from:		3. These estate assets may create income tax liability for heirs, unless left to charity:
A. federal estate tax Please try again.		A. cash Please try again.
B. costs of estate administration Please try again.		B. savings bonds and IRAs Congratulations, correct answer.
C. both A and B Congratulations, correct answer.		C. assets that have declined in value Please try again.

2. For estate tax purposes, your assets are valued at:		4. A 100% estate tax deduction shelters bequests to:
A. your original cost for each item Please try again.		A. minor children or grandchildren Please try again.
B. their date of death value (generally) Congratulations, correct answer.		B. family pets Please try again.
C. the amount estimated by IRS Please try again.		C. spouses and charities Congratulations, correct answer.