Reviewer
Reviewer
Reviewer
Estate tax is the tax on the right of transfer property at the death and on certain transfers which
are made by law the equivalent of testamentary disposition and is measured by the value of the
property. TRUE
2. Estate tax is an excise tax. TRUE
3. The taxpayer in estate taxation is the estate of the decedent as a juridical person. TRUE
4. The estate tax accrues as of the date of the actual possession or enjoyment of the state by the
beneficiary. FALSE
5. Executor is the person appointed by a court to carry out the directions and requests of a
decedent in his will and to dispose of the property according to his testamentary provision after
his death. FALSE
6. Intestate succession arise when there is transmission of properties in the absence of a will or if
there is a will the same is void or loss its validity or nobody succeeds in the will. TRUE
7. Every will may be in writing and executed in a language not necessarily known by the testator.
FALSE
8. Holographic will is a will entirely written by the testator with his own hand and maybe witness
or attested. FALSE
9. The will of an alien residing abroad produces effects in the Philippines if made with the
formalities prescribe by law of the place in which he resides. TRUE
10. The person has unlimited right to make donation in his last will and testament. FALSE
11. The rights to succession are transmitted from the moment the heirs received their share on
inheritance. FALSE
12. The law presumes that every person is of sound mind in the absence of proof to the contrary.
TRUE
13. Brothers and sisters whether half or full-blooded can be intestate heirs. TRUE
14. There cannot be a disinheritance for compulsory heirs. FALSE
15. Relatives by affinity are strangers for estate tax purposes. TRUE
16. An heir who inherits specific personal property by will is known as devisee. FALSE
17. Codicil is a supplement or addition to will. TRUE
18. Under the law of legitime, if the only survivor is the widow or widower he or she can have been
entitled half of the hereditary estate. TRUE
19. Representation is a right created by fiction of law, by virtue. TRUE
20. The standard deduction allowed in non-resident alien state is 500,000 pesos. TRUE
21. The standard deduction is an addition to all other deductions to which Filipino citizens and
residents alien are entitled. TRUE
22. Only husband and wife may constitute a family home. FALSE
23. The amount for inclusion in the gross estate for family home may be less than its fair market
value. TRUE
24. The amount for inclusion in the deduction from gross estate for family home maybe less than its
fair market value. TRUE
25. The amount for inclusion in the deduction from the gross estate from the family home maybe
less than 10 million. TRUE
26. When the amount being claimed as deduction for family home is less than 10 million, the
difference between that two amounts is subject to estate tax. FALSE
27. Any amount received by heirs from the decedent’s employer as a consequence of the death of
the decedent employee in accordance with republic act 4917, shall be deductible from the gross
estate of the decedent. TRUE
28. Only properties within the Philippines shall be considered when determining the gross estate
and deduction of a non-resident alien estate. TRUE
29. -----
30. -----
MULTIPLE CHOICE
16. Which is true the legal or intestate succession does not take place
a. If person dies without will ow with a void will or one which has subsequently lost its validity.
b. When the heirs instituted is capable of succeeding
c. When the will does not dispose of all the property belonging to that testator
d. If the suspensive condition attached to the instructions of heir does not happen or it is not
fulfilled.
17. Which of the following is a valid will
a. That which reduces the legitime of the compulsory heirs
b. That which increased the share of one heir without impairing the legitime of the other heirs.
c. That which transfers the legitime of one heir to another heir.
d. That which impaired the legitime of compulsory heir
18. Which of the following is a will invalid.
a. When no heirs has been instituted
b. When the will was executed in a language not known to the testator
c. When the institution does not cover in the entire estate
d. When the instituted heir is incapacitated to succeed
19. Which of the following statement is true.
a. The sharing of heirs in intestate succession does not satisfy the rule on legitime
b. The sharing of heirs in testamentary succession must satisfy the rules on legitime
c. Compulsory heir cannot receive more than his legitime.
d. There cannot be disinheritance of compulsory heir.
20. It deprives an heir to inherit properties by the decedent through the issuance of a will is
called____.
a. Disinheritance
b. Distribution share
c. Legitimate
d. Disqualification
21. No will shall be revoked except
a. By implication of law
b. By some will codicil or other writing executed as provided in the case of will
c. By burning, tearing, canceling, or oblitering the will with the intention or revoking the
testator himself or some other person in his present and by his express direction
d. All of the above
e. None of the above
22. A ______ deduction the maximum of which is 10 million but the amount claim may be less than
maximum. What is it?
Answer: FAMILY HOME
23. Which of the following may a non-resident alien estate deduct
a. Vanishing deduction
b. Amount received by a heirs under R. A. 4917
c. Family home
d. None of the above
24. The following deductions fall under losses, indebtedness and taxes which does not
a. Claims of the disease against insolvent person
b. Claims againts the estate
c. Unpaid mortgage
d. Property previously tax
25. The deduction allowed in a non-resident alien estate for losses, indebtedness and taxes is
a. World gross estate/PH gross estate x World losses etc.
b. Ph losses etc./World losses etc. x World gross estate
c. World losses etc./Ph losses etc. x World gross estate
d. Ph gross estate/world gross estate x World losses etc.
26. Unsettled obligations of the decedent refers to what
a. Claim against the estate
b. Claim against insolvent person
c. Unpaid mortgage
d. Casualty loss
27. Which is not a requisites, in order that the claim against the estate maybe deducted gross
estate
a. Certain in amount
b. Contracted in good faith
c. For less than adequate or full consideration
d. Existing against legally inforceable against estate
28. When founded upon promises or agreement the deduction to be allowed claim against the
estate, unpaid mortgage or any indebtedness shall be
a. Limited to the extent that they were contracted bona fide
b. For an adequate and full consideration in money or money’s worth
c. Both a and b
d. Neither a nor b