Weber State University

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

5. Life insurance policies owned by you:		7. Estate taxes should not be a concern if your taxable estate totals:
A. are taxable in your estate at full face value Congratulations, correct answer.		A. $2 million or less Please try again.
B. pass free of all death taxes Please try again.		B. $5 million or less Congratulations, correct answer.
C. are taxable to the death beneficiary Please try again.		C. $10 million or less Please try again.

6. Assets you own jointly with another person:		8. The following items are not subject to federal estate tax:
A. are subject to estate tax only when the surviving owner dies Please try again.		A. dining room furniture Please try again.
B. are included 50% in your estate if owned with a spouse Congratulations, correct answer.		B. gifts under $13,000 you make during life Congratulations, correct answer.
C. are included in your probate estate Please try again.		C. assets that you inherited Please try again.

		9. People who don’t face estate taxes still need to plan for:
		A. wise distribution of their estates Please try again.
		B. probate costs and other estate expenses Please try again.
		C. both A and B Congratulations, correct answer.