Accredited Estate Planner (AEP®) Exam — Questions and Answers

Question 1: Which of the following is a key advantage of using a 'super-charged CRAT' or 'accelerated charitable remainder trust' strategy?

Funding a CRAT with a deferred annuity to defer trust payouts and extend the charitable deduction period (Correct answer)
Converting ordinary income to capital gain within the trust before distribution
Using a CLAT inside a CRAT to maximize both income and charitable deductions simultaneously
Eliminating all capital gains tax on highly appreciated assets transferred to the trust

Correct answer: Funding a CRAT with a deferred annuity to defer trust payouts and extend the charitable deduction period

A supercharged CRAT is funded with a deferred annuity that accumulates inside the trust on a tax-deferred basis, deferring distributions and potentially extending the charitable benefit period.

Question 2: A client with a blended family asks the AEP team to help structure an estate plan that treats children from a prior marriage differently than children from the current marriage. The team's fiduciary and ethical obligation is to:

Require equal shares as a condition of professional engagement
Refuse to draft documents that treat beneficiaries unequally
Advise the client of the implications and implement their informed, competent decision (Correct answer)
Implement the plan only if the current spouse consents in writing

Correct answer: Advise the client of the implications and implement their informed, competent decision

Competent adult clients have the right to distribute their estate as they choose; the professional team's obligation is to ensure the client is fully informed of the consequences and then implement the client's autonomous decision.

Question 3: Which of the following best describes the concept of 'portability' under federal estate tax law?

Moving assets into an irrevocable trust to preserve exemption
Allowing a surviving spouse to use the deceased spouse's unused estate tax exemption (Correct answer)
Carrying forward unused gift tax annual exclusions
Transferring assets across state lines tax-free

Correct answer: Allowing a surviving spouse to use the deceased spouse's unused estate tax exemption

Portability allows a surviving spouse to elect to use any unused federal estate tax exemption of the first deceased spouse by filing a timely estate tax return.

Question 4: What is the 'estate freeze' concept underlying a Family Limited Partnership (FLP) strategy?

Eliminating the step-up in basis at death
Transferring future appreciation to junior partners while retaining control (Correct answer)
Converting ordinary income assets to capital gain assets
Converting partnership interests to annuities

Correct answer: Transferring future appreciation to junior partners while retaining control

An FLP freezes the senior generation's interest at today's value while transferring future appreciation to limited partnership interests held by heirs, reducing the taxable estate over time.

Question 5: For estate tax purposes, a charitable bequest to a qualifying organization reduces the taxable estate because:

The bequest qualifies for the unlimited marital deduction
The bequest shifts the tax burden to the charitable beneficiary
IRC Section 2055 allows an unlimited deduction for qualifying charitable bequests (Correct answer)
Charitable bequests are treated as lifetime exclusion amounts

Correct answer: IRC Section 2055 allows an unlimited deduction for qualifying charitable bequests

IRC §2055 provides an unlimited estate tax deduction for property passing to qualifying charitable organizations, meaning there is no ceiling on the amount deductible from the gross estate.

Question 6: Under the special use valuation rules of IRC §2032A, qualifying real property used in a farm or closely held business can be reduced in value by a maximum of:

$500,000
$750,000
$2,000,000
$1,390,000 (2024 indexed amount) (Correct answer)

Correct answer: $1,390,000 (2024 indexed amount)

IRC §2032A permits qualifying real property to be valued at its actual use rather than highest-and-best use, with the reduction capped at an annually indexed amount (approximately $1,390,000 in 2024).

Question 7: The generation-skipping transfer (GST) tax exemption in 2024 is indexed for inflation and applies to transfers that skip how many generations?

Two or more generations below the transferor
At least one generation below the transferor (Correct answer)
Any transfer to a minor
One generation

Correct answer: At least one generation below the transferor

The GST tax applies when assets pass to a 'skip person,' generally a beneficiary at least one generation below the transferor, such as a grandchild.

Question 8: A family limited partnership (FLP) used in business succession planning primarily achieves which estate planning benefit?

Allows valuation discounts on transferred limited partnership interests, reducing gift and estate tax (Correct answer)
Avoids the generation-skipping transfer tax entirely
Eliminates all capital gains taxes on asset transfers
Qualifies the family for the §2032A special use valuation

Correct answer: Allows valuation discounts on transferred limited partnership interests, reducing gift and estate tax

Transferring limited partnership interests in an FLP allows the donor to apply DLOM and DLOC discounts, reducing the taxable value of gifts and estate transfers to family members.

Question 9: A Qualified Personal Residence Trust (QPRT) removes the value of a home from a grantor's taxable estate by:

Donating the home to charity after the trust term
Transferring the remainder interest to heirs at a discounted gift tax value (Correct answer)
Converting the home into a rental property
Allowing the IRS a first lien on the property

Correct answer: Transferring the remainder interest to heirs at a discounted gift tax value

A QPRT transfers a discounted remainder interest to heirs gift-tax-efficiently because the present value of the future remainder is less than the current fair market value of the home.

Question 10: When a decedent's estate exceeds the federal estate tax exemption, what is the marginal federal estate tax rate applied to the excess?

35%
40% (Correct answer)
37%
45%

Correct answer: 40%

The federal estate tax applies a flat 40% rate on taxable estates exceeding the applicable exclusion amount.

Question 11: A sale to an intentionally defective grantor trust (IDGT) avoids gift tax on the appreciation because the transaction is structured as a:

Bona fide sale in exchange for a promissory note (Correct answer)
Deferred compensation arrangement
Charitable remainder annuity payment
Qualified terminable interest property election

Correct answer: Bona fide sale in exchange for a promissory note

In an IDGT sale, the grantor sells assets to the trust in exchange for a promissory note at the AFR, so no gift tax applies to the appreciation, and because the trust is a grantor trust, no capital gains tax is recognized on the sale.

Question 12: What is the primary risk associated with a 'reciprocal trust' arrangement between spouses?

The IRS may 'uncross' the trusts and include assets in each grantor's estate (Correct answer)
Loss of step-up in basis for trust assets
Disqualification from the marital deduction
Gift tax exposure on trust contributions

Correct answer: The IRS may 'uncross' the trusts and include assets in each grantor's estate

The reciprocal trust doctrine allows the IRS to uncross mirror-image trusts created by spouses, effectively including the assets back in each spouse's taxable estate.

Question 13: In a redemption (entity-purchase) buy-sell agreement, which party owns the life insurance policies on the owners?

The business entity itself (Correct answer)
Each owner individually on the other owners
A trustee named in the agreement
The owners' spouses

Correct answer: The business entity itself

In a redemption agreement, the business entity owns and is the beneficiary of policies on each owner's life, using the death proceeds to redeem the deceased owner's interest.

Question 14: What is the primary purpose of regulatory compliance & ethics in the context of Accredited Estate Planner?

To eliminate the need for ongoing training
To replace established industry guidelines
To reduce organizational costs exclusively
To ensure consistent quality and professional accountability (Correct answer)

Correct answer: To ensure consistent quality and professional accountability

Regulatory Compliance & Ethics in Accredited Estate Planner primarily ensures consistent quality and professional accountability, forming the foundation of competent practice in this field.

Question 15: Which of the following best describes the 'duty of impartiality' as it applies to a trustee administering a trust with both income beneficiaries and remainder beneficiaries?

Investing solely for growth to maximize the remainder estate
Balancing investment and distribution decisions so neither class of beneficiaries is unreasonably favored (Correct answer)
Maximizing total return regardless of its allocation between income and principal
Distributing all income annually to current beneficiaries as required by law

Correct answer: Balancing investment and distribution decisions so neither class of beneficiaries is unreasonably favored

The duty of impartiality requires a trustee to balance the competing interests of income and remainder beneficiaries rather than favoring one class over the other.

Question 16: What is a common challenge professionals face when applying regulatory compliance & ethics principles in Accredited Estate Planner?

Balancing theoretical knowledge with practical application (Correct answer)
Having too much support from colleagues
Excessive simplicity of industry regulations
Lack of any professional development opportunities

Correct answer: Balancing theoretical knowledge with practical application

Balancing theoretical knowledge with practical application is a well-recognized challenge, as real-world scenarios often present complexities not covered in standard training.

Question 17: Under the Uniform Trust Code, what is the general standard of care required of a trustee when investing trust assets?

Preservation of principal above all else
Following the grantor's investment philosophy regardless of current conditions
Maximizing return without regard to risk
The prudent investor standard (Correct answer)

Correct answer: The prudent investor standard

The Uniform Prudent Investor Act requires trustees to invest as a prudent investor would, considering risk, return, and the overall trust portfolio.

Question 18: Which tax form is used by the executor of an estate to report the federal estate tax?

Form 1041
Form 709
Form 706 (Correct answer)
Form 1040

Correct answer: Form 706

Form 706, United States Estate (and Generation-Skipping Transfer) Tax Return, is filed by the executor within nine months of the decedent's death (with extensions available).

Question 19: What is a common challenge professionals face when applying financial analysis & reporting principles in Accredited Estate Planner?

Excessive simplicity of industry regulations
Balancing theoretical knowledge with practical application (Correct answer)
Lack of any professional development opportunities
Having too much support from colleagues

Correct answer: Balancing theoretical knowledge with practical application

Balancing theoretical knowledge with practical application is a well-recognized challenge, as real-world scenarios often present complexities not covered in standard training.

Question 20: The 'estate equalization' strategy is most beneficial for married couples where one spouse has a significantly larger estate because it:

Maximizes the portability election for the surviving spouse
Minimizes state income taxes on investment income
Allows unlimited marital deduction transfers at the first death
Ensures both estates fully utilize the applicable exclusion amount (Correct answer)

Correct answer: Ensures both estates fully utilize the applicable exclusion amount

Estate equalization transfers assets between spouses so that each estate is sized to fully utilize the applicable exclusion amount, avoiding the scenario where one spouse's estate far exceeds their exclusion while the other's is underutilized.

Question 21: A grantor retained annuity trust (GRAT) is most effective as an estate planning tool when:

The grantor has a long life expectancy and wishes to minimize income taxes
Interest rates are low and the transferred assets are expected to outperform the IRS §7520 rate (Correct answer)
Interest rates are high and asset growth is expected to be low
The trust holds only fixed-income investments

Correct answer: Interest rates are low and the transferred assets are expected to outperform the IRS §7520 rate

A GRAT works best when the assets appreciate at a rate exceeding the §7520 hurdle rate, because the excess passes to heirs free of gift tax.

Question 22: A 'zeroed-out GRAT' is structured so that the present value of the retained annuity payments equals the full value of assets transferred, which means the taxable gift at inception is:

Zero, eliminating any gift tax at formation (Correct answer)
Equal to the §7520 rate applied to the transferred assets
Equal to the full fair market value of transferred assets
50% of the assets' fair market value

Correct answer: Zero, eliminating any gift tax at formation

A zeroed-out GRAT is designed so the present value of retained annuity payments exactly equals the contribution, resulting in a zero taxable gift at creation while still transferring excess returns to heirs.

Question 23: What is the purpose of naming a beneficiary on a life insurance policy?

To avoid paying premiums.
To transfer ownership to the insurer.
To bypass the court process upon death. (Correct answer)
To cancel the policy on death.

Correct answer: To bypass the court process upon death.

The purpose of naming a beneficiary on a life insurance policy is to bypass the court process upon death. When a beneficiary is designated, the death benefit is paid directly to that individual or entity, outside of the probate process. This ensures a quicker and more private distribution of funds to your chosen recipients.

Question 24: When implementing tax planning & strategy practices, what should a AEP professional prioritize first?

Speed of completion over thoroughness
Compliance with established standards and protocols (Correct answer)
Personal convenience and efficiency
Cost reduction at all levels

Correct answer: Compliance with established standards and protocols

Compliance with established standards and protocols must be the first priority, as it ensures safety, quality, and legal adherence in professional practice.

Question 25: Which federal tax is directly associated with transferring property at death?

Estate tax (Correct answer)
Income tax
Sales tax
Gift tax

Correct answer: Estate tax

The federal tax directly associated with transferring property at death is the estate tax. This tax is levied on the total value of a deceased person's assets, including cash, real estate, stocks, and other property, before distribution to heirs. It is distinct from income tax, which applies to earnings, and gift tax, which applies to transfers made during life.

Question 26: A trustee who fails to diversify trust investments without adequate justification may be liable for breach of:

The duty to inform the IRS
The spendthrift clause
The no-contest clause
The duty to prudently invest under the Uniform Prudent Investor Act (Correct answer)

Correct answer: The duty to prudently invest under the Uniform Prudent Investor Act

The Uniform Prudent Investor Act requires trustees to diversify trust investments unless special circumstances justify non-diversification, making failure to diversify a potential breach.

Question 27: In Accredited Estate Planner, what role does regulatory compliance & ethics play in ensuring client/stakeholder satisfaction?

It replaces the need for direct communication
It has no direct impact on stakeholder satisfaction
It builds trust through demonstrated competence and consistency (Correct answer)
It only matters during initial certification

Correct answer: It builds trust through demonstrated competence and consistency

Regulatory Compliance & Ethics builds trust through demonstrated competence and consistency, which directly contributes to stakeholder satisfaction and confidence in the AEP professional.

Question 28: What type of planning is a Family Limited Partnership (FLP) primarily used for?

Transferring wealth within families. (Correct answer)
Retirement income planning.
Funding educational plans.
Short-term investing.

Correct answer: Transferring wealth within families.

A Family Limited Partnership (FLP) is an estate planning tool primarily used to transfer wealth to younger generations while retaining some control and achieving valuation discounts for gift and estate tax purposes. Assets, such as real estate or business interests, are transferred into the FLP, and partnership interests are then gifted to family members. This structure can also offer asset protection benefits.

Question 29: A grantor retained annuity trust (GRAT) is most effective when the assets transferred into it are expected to:

Generate stable income equal to the annuity payment
Appreciate at a rate exceeding the IRS Section 7520 rate (Correct answer)
Be distributed to charity at the end of the term
Decline in value during the annuity term

Correct answer: Appreciate at a rate exceeding the IRS Section 7520 rate

A GRAT succeeds when trust assets outperform the Section 7520 hurdle rate, passing the excess appreciation to heirs gift-tax-free.

Question 30: Which of the following is true about marital deductions in estate planning?

They are capped at $1 million.
They allow unlimited transfers between spouses (Correct answer)
They are limited to non-citizens.
They apply only to siblings.

Correct answer: They allow unlimited transfers between spouses

The unlimited marital deduction is a fundamental principle in U.S. estate and gift tax law. It allows spouses to transfer an unlimited amount of assets to each other, either during their lifetime or at death, without incurring federal gift or estate tax. This deduction is designed to ensure that married couples can manage their assets without immediate tax implications, deferring any potential estate tax until the death of the surviving spouse.

Question 31: Which of the following is NOT subject to federal estate tax?

Jointly owned property
Life insurance not owned by the deceased (Correct answer)
Life insurance owned by the deceased
Property held in a revocable trust

Correct answer: Life insurance not owned by the deceased

Life insurance proceeds are generally included in the deceased's taxable estate if the deceased owned the policy or had incidents of ownership at the time of death. However, if the life insurance policy is neither owned by the deceased nor payable to their estate, such as a policy owned by another individual or an irrevocable life insurance trust, the proceeds are typically not subject to federal estate tax in the deceased's estate. This is a common estate planning strategy to remove assets from the taxable estate.

Question 32: Under the Prudent Investor Rule, a trustee who delegates investment functions to an agent and monitors the agent appropriately will generally:

Be required to obtain court approval before any delegation can be effective
Remain fully liable for all investment losses regardless of the agent's performance
Be relieved of liability for the agent's actions that fall within the scope of the delegation (Correct answer)
Be personally liable unless the delegation is approved by all beneficiaries

Correct answer: Be relieved of liability for the agent's actions that fall within the scope of the delegation

Under the UPIA, a trustee who prudently selects an agent, defines the scope of delegation, and monitors performance appropriately is generally relieved of liability for the agent's investment decisions within that scope.

Question 33: Which quality improvement method is most applicable to regulatory compliance & ethics in Accredited Estate Planner?

Making changes only when mandated by regulators
Implementing changes without measuring outcomes
Plan-Do-Check-Act (PDCA) continuous improvement cycle (Correct answer)
Ignoring feedback and maintaining status quo

Correct answer: Plan-Do-Check-Act (PDCA) continuous improvement cycle

The PDCA cycle is widely recognized as the most effective quality improvement method, allowing AEP professionals to systematically improve regulatory compliance & ethics practices.

Question 34: Under IRC §2503(c), a trust qualifies for the annual gift tax exclusion for transfers to minors if the assets must be distributed to the minor by age:

30
18
21 (Correct answer)
25

Correct answer: 21

A §2503(c) minor's trust must provide that the trust property and its income may be expended for the minor's benefit and must pass to the minor at age 21 to qualify for the annual exclusion.

Question 35: A Charitable Lead Annuity Trust (CLAT) differs from a Charitable Remainder Annuity Trust (CRAT) primarily in that:

A CLAT eliminates all estate taxes on the transferred assets
A CLAT requires the grantor to be at least 60 years old
A CLAT provides the annuity stream to the charity first, with the remainder passing to heirs (Correct answer)
A CLAT must be funded only with cash, not appreciated property

Correct answer: A CLAT provides the annuity stream to the charity first, with the remainder passing to heirs

In a CLAT, the charitable organization receives the annuity payments for the trust term, and any remainder passes to the grantor's heirs—opposite of a CRAT's structure.

Question 36: How does continuing education relate to regulatory compliance & ethics for AEP certified professionals?

It is optional and rarely impacts practice quality
It is only needed when changing employers
It is required only for entry-level practitioners
It ensures professionals stay current with evolving standards and best practices (Correct answer)

Correct answer: It ensures professionals stay current with evolving standards and best practices

Continuing education ensures AEP professionals stay current with evolving standards, technologies, and best practices in regulatory compliance & ethics, maintaining competency throughout their careers.

Question 37: Which type of property ownership includes a right of survivorship that automatically transfers the deceased owner's interest to surviving owners?

Tenancy by the entirety
Joint tenancy (Correct answer)
Tenancy in common
Community property

Correct answer: Joint tenancy

Joint tenancy includes the right of survivorship, meaning the deceased joint tenant's share passes automatically to surviving joint tenants.

Question 38: Under IRC Section 2036, an FLP may be included in the grantor's estate if the grantor retained which type of interest?

Any interest in the FLP exceeding 5% of total value
A limited partnership interest only
A general partner interest with no economic rights
The right to possess, enjoy, or receive income from transferred property (Correct answer)

Correct answer: The right to possess, enjoy, or receive income from transferred property

IRC §2036 pulls assets back into the estate when the decedent retained the right to possess, enjoy, or receive income from transferred property, which courts have applied aggressively to FLPs.

Question 39: In Accredited Estate Planner, what role does risk assessment & mitigation play in ensuring client/stakeholder satisfaction?

It has no direct impact on stakeholder satisfaction
It builds trust through demonstrated competence and consistency (Correct answer)
It replaces the need for direct communication
It only matters during initial certification

Correct answer: It builds trust through demonstrated competence and consistency

Risk Assessment & Mitigation builds trust through demonstrated competence and consistency, which directly contributes to stakeholder satisfaction and confidence in the AEP professional.

Question 40: Which type of fiduciary standard generally applies to an Accredited Estate Planner providing financial planning advice in their capacity as a fiduciary advisor?

Safe harbor standard, protecting advisors who follow industry norms
Caveat emptor standard, placing responsibility on the client to evaluate advice
Best interest standard, requiring advice that places the client's interests above the advisor's own (Correct answer)
Suitability standard, requiring only that recommendations be suitable for the client

Correct answer: Best interest standard, requiring advice that places the client's interests above the advisor's own

Fiduciary advisors, including those acting in an AEP capacity, are generally held to a best-interest standard that requires placing the client's interests above their own personal or financial interests.

Question 41: What is a common challenge professionals face when applying risk assessment & mitigation principles in Accredited Estate Planner?

Having too much support from colleagues
Balancing theoretical knowledge with practical application (Correct answer)
Lack of any professional development opportunities
Excessive simplicity of industry regulations

Correct answer: Balancing theoretical knowledge with practical application

Balancing theoretical knowledge with practical application is a well-recognized challenge, as real-world scenarios often present complexities not covered in standard training.

Question 42: What is the minimum required payout rate for a Charitable Remainder Trust to qualify under IRC Section 664?

5% of net fair market value (Correct answer)
10% of net fair market value
7.5% of net fair market value
3% of initial net fair market value

Correct answer: 5% of net fair market value

IRC §664 requires that a CRT pay at least 5% of net fair market value annually to qualify as a charitable remainder trust.

Question 43: A fiduciary holds a trust with a spendthrift provision. A creditor of the income beneficiary demands that the trustee redirect income distributions directly to them. The trustee should:

Comply with the creditor's demand to avoid personal liability
Seek court approval before distributing to either the beneficiary or creditor
Refuse the demand, as spendthrift provisions generally protect trust distributions from creditor claims prior to receipt (Correct answer)
Distribute half to the beneficiary and half to the creditor as a compromise

Correct answer: Refuse the demand, as spendthrift provisions generally protect trust distributions from creditor claims prior to receipt

A valid spendthrift provision prevents creditors from attaching trust distributions before the beneficiary actually receives them, so the trustee should refuse the creditor's demand.

Question 44: What is the primary benefit of titling assets as community property with right of survivorship (CPWROS) compared to joint tenancy for a married couple?

Avoidance of estate taxes
Both spouses' shares receive a full step-up in basis at the first death (Correct answer)
Greater creditor protection
Elimination of probate in all states

Correct answer: Both spouses' shares receive a full step-up in basis at the first death

CPWROS gives both the deceased and surviving spouse's halves a stepped-up basis at the first death, while joint tenancy provides a step-up only on the deceased's half.

Question 45: The generation-skipping transfer (GST) tax exemption amount in 2024 is most closely aligned with:

The applicable federal midterm rate times the transferred assets
$5,000,000 per transferor
The annual gift tax exclusion multiplied by the number of skip persons
The basic exclusion amount for federal estate tax purposes (Correct answer)

Correct answer: The basic exclusion amount for federal estate tax purposes

The GST tax exemption is equal to the basic exclusion amount for federal estate and gift tax purposes, which is $13.61 million in 2024.

Question 46: A trustee's duty to keep beneficiaries 'reasonably informed' under the Uniform Trust Code typically includes which of the following?

Providing beneficiaries with copies of all attorney-client privileged communications
Furnishing annual trust accountings and responding to reasonable requests for information (Correct answer)
Notifying beneficiaries only when distributions are made
Disclosing all investment strategies in advance and obtaining beneficiary approval

Correct answer: Furnishing annual trust accountings and responding to reasonable requests for information

Under the UTC, the duty to keep beneficiaries reasonably informed generally includes providing annual accountings and responding to reasonable requests for information about trust administration.

Question 47: Which of the following best describes a key competency required for regulatory compliance & ethics in AEP certification?

Ability to work independently without any oversight
Delegation of all complex tasks to supervisors
Memorization of all relevant regulations verbatim
Critical thinking and evidence-based decision making (Correct answer)

Correct answer: Critical thinking and evidence-based decision making

Critical thinking and evidence-based decision making is essential for regulatory compliance & ethics, as professionals must analyze situations and apply knowledge appropriately.

Question 48: How should a AEP professional handle a situation where tax planning & strategy protocols conflict with practical constraints?

Always ignore the protocols in favor of practicality
Document the conflict and seek guidance from appropriate authorities (Correct answer)
Avoid addressing the conflict entirely
Make a unilateral decision without consultation

Correct answer: Document the conflict and seek guidance from appropriate authorities

When protocols conflict with practical constraints, the professional approach is to document the conflict and seek guidance, ensuring transparency and compliance while working toward a resolution.

Question 49: Under the concept of 'bargain sale' to a charity, which of the following correctly describes the tax treatment?

The entire fair market value is treated as a charitable deduction
No gain is recognized because the transaction is partially charitable
Gain is recognized proportionally based on the ratio of the sale price to the fair market value (Correct answer)
The donor's basis is fully allocated to the sold portion, eliminating all gain

Correct answer: Gain is recognized proportionally based on the ratio of the sale price to the fair market value

In a bargain sale, the donor's adjusted basis is allocated between the sold and donated portions proportionally, so gain is recognized on the sold portion in the ratio of sale price to fair market value.

Question 50: Under the special use valuation election (IRC §2032A), farm or closely held business real property may be valued at its actual use value rather than fair market value, subject to a maximum reduction of approximately:

$500,000
$5,000,000
$1,390,000 (indexed for inflation) (Correct answer)
$750,000

Correct answer: $1,390,000 (indexed for inflation)

IRC §2032A permits a reduction in the value of qualified real property up to the indexed limit (approximately $1.39 million in recent years), reducing the estate tax burden for qualifying farms and businesses.

Question 51: Which estate planning technique allows a parent to 'freeze' the value of a business interest in their estate while transferring future appreciation to the next generation income-tax free?

Testamentary bypass trust
Installment sale to an IDGT (Correct answer)
Charitable remainder trust funded with business interests
Section 303 stock redemption

Correct answer: Installment sale to an IDGT

An installment sale of business interest to an IDGT freezes the seller's estate at the note value while all future appreciation accrues income-tax free inside the grantor trust for the next generation.

Question 52: A trustee discovers a trust document is silent on a specific administrative power needed to manage trust assets. Under the Uniform Trust Code, what is the trustee permitted to do?

Petition the court for every action not expressly authorized
Transfer assets to a custodial account until clarified
Exercise any power that a prudent person would exercise given the trust's purpose (Correct answer)
Refuse to act until the trust is amended

Correct answer: Exercise any power that a prudent person would exercise given the trust's purpose

The UTC grants trustees implied administrative powers that a prudent person would exercise to carry out the trust's purposes, even if not expressly listed in the document.

Question 53: Which document expresses a person's wishes regarding end-of-life medical treatment but does NOT appoint an agent to act on their behalf?

Durable power of attorney
Living will (advance directive) (Correct answer)
Healthcare proxy
Healthcare power of attorney

Correct answer: Living will (advance directive)

A living will states the individual's own medical wishes regarding life-sustaining treatment but does not designate a decision-making agent.

Question 54: Which documentation practice is most important for regulatory compliance & ethics in the AEP field?

Maintaining complete, accurate, and timely records (Correct answer)
Documenting only when legally required
Recording only successful outcomes
Using informal notes instead of official records

Correct answer: Maintaining complete, accurate, and timely records

Maintaining complete, accurate, and timely records is crucial for accountability, quality assurance, and legal compliance in regulatory compliance & ethics.

Question 55: A dynasty trust is designed to last for multiple generations primarily to avoid which tax?

Self-employment taxes on business income
Generation-skipping transfer (GST) tax on repeated transfers (Correct answer)
Income tax on trust earnings
State inheritance taxes in all 50 states

Correct answer: Generation-skipping transfer (GST) tax on repeated transfers

By allocating GST exemption to a dynasty trust at inception, assets can pass through multiple generations without incurring GST tax each time they transfer.

Question 56: Which of the following best describes 'surcharge liability' as it applies to an estate planning fiduciary?

The legal obligation of a fiduciary to make beneficiaries whole for losses caused by a breach of duty (Correct answer)
An additional fee the fiduciary charges for complex trust administration
The process of charging investment management expenses to the trust
A penalty imposed by the IRS for late estate tax filings

Correct answer: The legal obligation of a fiduciary to make beneficiaries whole for losses caused by a breach of duty

Surcharge liability refers to a court's authority to require a fiduciary to compensate the trust or beneficiaries for losses that resulted from the fiduciary's breach of duty.

Question 57: An irrevocable life insurance trust (ILIT) keeps life insurance proceeds out of the insured's gross estate primarily because:

The insured holds no incidents of ownership in the policy (Correct answer)
Life insurance proceeds are always income-tax-free
The trust files its own estate tax return
State law exempts life insurance from probate

Correct answer: The insured holds no incidents of ownership in the policy

Under IRC §2042, life insurance is included in the gross estate if the decedent held any incident of ownership; an ILIT ensures the trust, not the insured, owns the policy.

Question 58: What ethical consideration is most relevant to regulatory compliance & ethics in AEP practice?

Prioritizing personal advancement over professional duties
Avoiding all professional development activities
Maintaining confidentiality and acting in the best interest of stakeholders (Correct answer)
Following only those rules that are convenient

Correct answer: Maintaining confidentiality and acting in the best interest of stakeholders

Maintaining confidentiality and acting in the best interest of stakeholders is the cornerstone ethical consideration for regulatory compliance & ethics in professional practice.

Question 59: What does the step-up in basis rule apply to?

Life insurance proceeds
Inherited assets (Correct answer)
Assets sold before death
Income earned after death

Correct answer: Inherited assets

The step-up in basis rule applies specifically to inherited assets. When an asset is inherited, its cost basis for the beneficiary is "stepped up" to its fair market value on the date of the decedent's death, rather than the original purchase price. This rule is highly advantageous for beneficiaries, as it can significantly reduce or even eliminate capital gains tax if they choose to sell the asset shortly after inheritance.

Question 60: Which fiduciary role involves distributing a decedent’s assets under a will?

CPA
Attorney
Executor (Correct answer)
Trustee

Correct answer: Executor

The executor is the fiduciary responsible for carrying out the instructions outlined in a decedent's will. Their duties include identifying and collecting the deceased's assets, paying any outstanding debts and taxes, and ultimately distributing the remaining assets to the designated beneficiaries according to the will's terms. This role is central to the probate process.

Question 61: What is the significance of peer review in regulatory compliance & ethics for AEP professionals?

It is primarily used for disciplinary purposes
It replaces the need for self-assessment
It is only relevant for newly certified professionals
It promotes accountability, knowledge sharing, and quality improvement (Correct answer)

Correct answer: It promotes accountability, knowledge sharing, and quality improvement

Peer review promotes accountability, knowledge sharing, and quality improvement by allowing AEP professionals to benefit from collective expertise and identify areas for growth.

Question 62: Which technology trend is most likely to impact regulatory compliance & ethics in the AEP field in coming years?

Return to exclusively paper-based systems
Digital tools for enhanced data collection, analysis, and reporting (Correct answer)
Complete elimination of human professionals
Reduction in the need for professional certification

Correct answer: Digital tools for enhanced data collection, analysis, and reporting

Digital tools for enhanced data collection, analysis, and reporting represent the most significant and practical technology trend impacting regulatory compliance & ethics, augmenting rather than replacing professional expertise.

Question 63: Which of the following describes a 'net income with makeup charitable remainder unitrust' (NIMCRUT)?

A CRUT that pays the lesser of net income or the unitrust percentage, with a makeup account for deficiencies paid in future years (Correct answer)
A CRUT that allows the trustee to accumulate all income until the trust terminates
A CRUT that pays the greater of net income or the unitrust percentage, with no makeup provision
A CRUT that pays a fixed annuity from trust income only

Correct answer: A CRUT that pays the lesser of net income or the unitrust percentage, with a makeup account for deficiencies paid in future years

A NIMCRUT pays the lesser of net income or the stated unitrust percentage each year, and maintains a 'makeup account' so deficiencies from low-income years can be paid out when trust income exceeds the unitrust percentage in later years.

Question 64: Which strategy is best for asset protection in estate planning?

Keeping all assets in a joint account.
Avoiding all trust planning.
Establishing irrevocable trusts. (Correct answer)
Using revocable living trusts.

Correct answer: Establishing irrevocable trusts.

Irrevocable trusts are a cornerstone of asset protection in estate planning because, once assets are transferred into them, the grantor generally relinquishes control and ownership. This separation of ownership can shield assets from future creditors, lawsuits, and even divorce settlements, as the assets are no longer considered part of the grantor's personal estate. Unlike revocable trusts, irrevocable trusts offer a higher degree of protection due to their permanent nature.

Question 65: In a cross-purchase buy-sell agreement among three business owners, how many life insurance policies are typically required?

9
12
6 (Correct answer)
3

Correct answer: 6

In a cross-purchase agreement, each owner insures every other owner, so with three owners the formula is n(n-1) = 3×2 = 6 policies.

Question 66: Under the Uniform Disposition of Community Property Act, how is community property treated when a couple moves from a community property state to a common law state?

It automatically converts to joint tenancy
It must be retitled within one year
It retains its community property character (Correct answer)
It becomes the separate property of each spouse

Correct answer: It retains its community property character

The UDCPA, adopted by some common law states, preserves the community property character of assets acquired in a community property state.

Question 67: The three-year rule under IRC §2035 requires inclusion in the gross estate of life insurance policies transferred within three years of death primarily to prevent:

Double taxation of the same assets
Deathbed transfers designed to avoid estate tax on life insurance proceeds (Correct answer)
Income tax on policy cash value
Generation-skipping transfers

Correct answer: Deathbed transfers designed to avoid estate tax on life insurance proceeds

IRC §2035 recaptures life insurance policies transferred within three years of death into the gross estate to prevent deathbed transfers intended to exploit the ILIT exclusion.

Question 68: How can jointly owned property affect estate planning?

It is always taxed at a higher rate.
It must go through probate court.
It avoids probate when rights of survivorship apply. (Correct answer)
It becomes part of the deceased's taxable estate automatically.

Correct answer: It avoids probate when rights of survivorship apply.

Jointly owned property can significantly affect estate planning because it avoids probate when rights of survivorship apply. In such cases, the property automatically passes to the surviving owner(s) upon the death of one owner, without needing to go through the court-supervised probate process. This can simplify asset transfer and save time and costs for the heirs.

Question 69: Which IRC section provides favorable installment sale treatment when a business owner sells to an ESOP, potentially allowing deferral of capital gains tax?

IRC §1042 (Correct answer)
IRC §1014
IRC §1031
IRC §2057

Correct answer: IRC §1042

IRC §1042 allows a C-corporation owner who sells qualifying stock to an ESOP to defer capital gains tax by reinvesting proceeds in qualified replacement property.

Question 70: What is one benefit of collaboration among estate planning professionals?

Reduces client meetings.
Creates an integrated and effective plan. (Correct answer)
Eliminates documentation.
Increases paperwork and delays.

Correct answer: Creates an integrated and effective plan.

Collaboration among estate planning professionals, such as attorneys, financial advisors, CPAs, and insurance specialists, is crucial because it ensures all facets of a client's financial and legal situation are considered. This interdisciplinary approach leads to a comprehensive, integrated, and highly effective estate plan. It minimizes oversights, optimizes tax efficiency, and aligns all components of the plan with the client's overarching goals.

Question 71: What is the primary purpose of risk assessment & mitigation in the context of Accredited Estate Planner?

To reduce organizational costs exclusively
To replace established industry guidelines
To ensure consistent quality and professional accountability (Correct answer)
To eliminate the need for ongoing training

Correct answer: To ensure consistent quality and professional accountability

Risk Assessment & Mitigation in Accredited Estate Planner primarily ensures consistent quality and professional accountability, forming the foundation of competent practice in this field.

Question 72: What is the generation-skipping transfer (GST) tax designed to prevent?

Direct transfers to children
Transfers to spouses
Avoidance of estate tax via skipping generations (Correct answer)
Charitable donations

Correct answer: Avoidance of estate tax via skipping generations

The Generation-Skipping Transfer (GST) tax is a federal tax designed to prevent wealthy individuals from avoiding estate taxes by transferring assets directly to grandchildren or later generations. Without the GST tax, assets could bypass one or more generations, thus avoiding estate tax at each skipped generation's level. This tax ensures that wealth transfers are subject to taxation at each generational level, maintaining the integrity of the estate tax system.

Question 73: What is the primary purpose of tax planning & strategy in the context of Accredited Estate Planner?

To replace established industry guidelines
To reduce organizational costs exclusively
To ensure consistent quality and professional accountability (Correct answer)
To eliminate the need for ongoing training

Correct answer: To ensure consistent quality and professional accountability

Tax Planning & Strategy in Accredited Estate Planner primarily ensures consistent quality and professional accountability, forming the foundation of competent practice in this field.

Question 74: What is the generation-skipping transfer (GST) tax designed to prevent?

Transfers to non-citizen spouses
Multiple step-up in basis events on the same asset
Avoiding estate tax by skipping generations and transferring wealth directly to grandchildren or lower (Correct answer)
Charitable deductions from reducing estate tax liability

Correct answer: Avoiding estate tax by skipping generations and transferring wealth directly to grandchildren or lower

The GST tax imposes a separate tax on transfers to beneficiaries two or more generations below the transferor, preventing families from avoiding estate taxes by skipping a generation.

Question 75: A Special Needs Trust (SNT) is designed primarily to supplement benefits from which government programs without disqualifying the beneficiary?

CHIP and unemployment insurance
Medicare and Social Security retirement
Medicaid and Supplemental Security Income (SSI) (Correct answer)
Veterans benefits and SNAP

Correct answer: Medicaid and Supplemental Security Income (SSI)

An SNT supplements Medicaid and SSI benefits by holding assets for a disabled beneficiary without counting those assets as available resources for program eligibility.

Question 76: What is a key feature of an Irrevocable Life Insurance Trust (ILIT)?

It allows the insured to access the cash value.
It automatically pays off debts.
It holds life insurance policies outside the taxable estate. (Correct answer)
It is revocable at any time.

Correct answer: It holds life insurance policies outside the taxable estate.

An Irrevocable Life Insurance Trust (ILIT) is specifically designed to own life insurance policies, removing the death benefit proceeds from the insured's taxable estate. By doing so, the ILIT helps avoid estate taxes on the insurance payout, which can be substantial. The trust is irrevocable, meaning the grantor gives up control over the policy, ensuring it is not included in their estate for tax purposes.

Question 77: A Delaware Incomplete Non-Grantor (DING) Trust is primarily designed to achieve which tax planning objective?

Eliminate federal estate taxes on transferred assets
Maximize the annual gift tax exclusion
Avoid state income tax in high-tax states (Correct answer)
Shift income to lower-bracket beneficiaries

Correct answer: Avoid state income tax in high-tax states

A DING trust is structured so that the trust is taxed in a no-income-tax state like Delaware or Nevada, allowing the grantor in a high-tax state to reduce state income tax liability.

Question 78: Under the Uniform Prudent Investor Act (UPIA), which factor is NOT among those a trustee must consider when making investment decisions?

The personal investment preferences of the trustee (Correct answer)
Tax consequences of investment decisions
The role each investment plays within the overall portfolio
General economic conditions

Correct answer: The personal investment preferences of the trustee

The UPIA requires trustees to consider economic conditions, portfolio context, and tax consequences, but a trustee's personal investment preferences are irrelevant and may constitute a conflict of interest.

Question 79: In Accredited Estate Planner, what role does tax planning & strategy play in ensuring client/stakeholder satisfaction?

It only matters during initial certification
It replaces the need for direct communication
It builds trust through demonstrated competence and consistency (Correct answer)
It has no direct impact on stakeholder satisfaction

Correct answer: It builds trust through demonstrated competence and consistency

Tax Planning & Strategy builds trust through demonstrated competence and consistency, which directly contributes to stakeholder satisfaction and confidence in the AEP professional.

Question 80: What is the primary estate planning risk of naming a minor child as a direct beneficiary of a life insurance policy or retirement account?

A court-appointed guardian or conservator will be required to manage the assets until the child reaches majority (Correct answer)
The proceeds will be included in the surviving parent's estate
The proceeds will be subject to the kiddie tax
The child's inheritance will be permanently lost

Correct answer: A court-appointed guardian or conservator will be required to manage the assets until the child reaches majority

Minors cannot legally control assets, so a court must appoint a guardian of the property to manage the funds until the child reaches the age of majority, which can be costly and inflexible.

Question 81: Which type of trust allows the grantor to retain the right to receive a fixed annuity payment for a specified term, with the remainder passing to heirs?

Charitable Remainder Trust
Grantor Retained Annuity Trust (GRAT) (Correct answer)
Intentionally Defective Grantor Trust (IDGT)
Qualified Personal Residence Trust (QPRT)

Correct answer: Grantor Retained Annuity Trust (GRAT)

A GRAT allows the grantor to receive fixed annuity payments for a set term, and any remaining assets pass to heirs with reduced gift tax exposure.

Question 82: Why are valuation discounts important in advanced estate planning?

They increase tax on appreciated assets.
They reduce the value for transfer tax calculations. (Correct answer)
They simplify probate court procedures.
They are required by all estate plans.

Correct answer: They reduce the value for transfer tax calculations.

Valuation discounts are crucial in advanced estate planning because they allow for the transfer of certain assets, such as interests in closely held businesses or real estate, at a value lower than their pro-rata share of the underlying assets. These discounts, often for lack of marketability or lack of control, reduce the taxable value of the gift or estate. This can significantly lower gift and estate tax liabilities, enabling more wealth to be passed to beneficiaries.

Question 83: A Charitable Gift Annuity (CGA) differs from a Charitable Remainder Annuity Trust (CRAT) primarily because:

A CGA assets are segregated from the charity's general assets
A CGA is a direct contract between the donor and the charity, not a separate trust (Correct answer)
A CGA requires a minimum transfer of $100,000
A CGA provides a larger charitable deduction than a CRAT for the same gift amount

Correct answer: A CGA is a direct contract between the donor and the charity, not a separate trust

A CGA is a simple bilateral contract between the donor and the charity where the charity promises annuity payments from its general assets; it does not create a separate trust entity like a CRAT.

Question 84: How does a Charitable Remainder Trust (CRT) benefit estate planning?

It allows tax-free withdrawals.
It avoids probate completely.
It increases estate tax liability.
It enables charitable giving with income and tax advantages. (Correct answer)

Correct answer: It enables charitable giving with income and tax advantages.

A Charitable Remainder Trust (CRT) allows individuals to make a significant charitable donation while retaining an income stream for themselves or other non-charitable beneficiaries for a specified term or life. Upon the trust's termination, the remaining assets are distributed to the designated charity. This strategy offers immediate income tax deductions, potential capital gains tax avoidance on appreciated assets, and reduces the donor's taxable estate.

Question 85: For a Qualified Charitable Distribution (QCD) from an IRA to qualify for exclusion from gross income, which requirement must be met?

The IRA owner must be at least 59½ years old
The IRA must have been open for at least five years
The charity must be a private foundation
The distribution must not exceed $100,000 per year per taxpayer (Correct answer)

Correct answer: The distribution must not exceed $100,000 per year per taxpayer

To qualify as a QCD, the distribution to an eligible public charity must not exceed $100,000 per taxpayer per year (adjusted for inflation in subsequent years), and the owner must be at least 70½.

Question 86: What distinguishes a per stirpes distribution from a per capita distribution among beneficiaries?

Per stirpes excludes adopted children; per capita includes them
Per stirpes applies only to real property; per capita applies to all property
Per stirpes distributes equally among all living descendants; per capita distributes by bloodline branches
Per stirpes distributes by bloodline branches; per capita distributes equally among all living descendants at the same generation level (Correct answer)

Correct answer: Per stirpes distributes by bloodline branches; per capita distributes equally among all living descendants at the same generation level

Per stirpes divides an estate by family branches so descendants of a deceased heir step into their parent's share; per capita distributes equally among all living members of a generation.

Question 87: What is the federal gift tax annual exclusion amount per recipient for 2024?

$16,000
$15,000
$18,000 (Correct answer)
$17,000

Correct answer: $18,000

The annual gift tax exclusion increased to $18,000 per recipient in 2024, up from $17,000 in 2023.

Question 88: An inter vivos trust created during the grantor's lifetime that cannot be changed or revoked is classified as:

Resulting trust
Irrevocable inter vivos trust (Correct answer)
Revocable living trust
Testamentary trust

Correct answer: Irrevocable inter vivos trust

An irrevocable inter vivos trust is established during the grantor's lifetime and, once executed, generally cannot be modified or terminated by the grantor.

Question 89: In Accredited Estate Planner, what role does financial analysis & reporting play in ensuring client/stakeholder satisfaction?

It has no direct impact on stakeholder satisfaction
It replaces the need for direct communication
It only matters during initial certification
It builds trust through demonstrated competence and consistency (Correct answer)

Correct answer: It builds trust through demonstrated competence and consistency

Financial Analysis & Reporting builds trust through demonstrated competence and consistency, which directly contributes to stakeholder satisfaction and confidence in the AEP professional.

Question 90: A trustee receives a request from the primary beneficiary to invest the entire trust corpus in a single real estate venture the beneficiary controls. Under the UPIA, the trustee's most appropriate response is to:

Refuse and maintain a diversified portfolio absent compelling circumstances (Correct answer)
Invest half in the venture as a compromise position
Request approval from the remainder beneficiaries before deciding
Comply as the primary beneficiary's wishes should take precedence

Correct answer: Refuse and maintain a diversified portfolio absent compelling circumstances

The UPIA requires diversification as a default standard of prudence, and investing the entire corpus in a single venture controlled by a beneficiary would also create a prohibited conflict of interest.

Question 91: Who is primarily responsible for filing estate tax returns?

Financial planner
Beneficiary
Executor (Correct answer)
CPA

Correct answer: Executor

The executor (or personal representative) is the individual appointed in a will or by the court to administer the decedent's estate. A key responsibility of the executor is to identify and gather assets, pay debts and taxes, and distribute the remaining assets to beneficiaries. This includes the crucial task of preparing and filing all necessary tax returns, including the federal estate tax return (Form 706) if required.

Question 92: Which estate planning technique uses the applicable federal rate (AFR) as a key benchmark for determining whether a loan between family members is treated as a bona fide loan or a taxable gift?

Intra-family loan strategy under IRC §7872 (Correct answer)
Deferred sales trust
Qualified opportunity zone investment
Grantor retained unitrust (GRUT)

Correct answer: Intra-family loan strategy under IRC §7872

IRC §7872 requires that intra-family loans charge at least the applicable federal rate (AFR); loans below the AFR trigger imputed interest income and a deemed gift of the interest shortfall.

Question 93: When implementing regulatory compliance & ethics practices, what should a AEP professional prioritize first?

Personal convenience and efficiency
Compliance with established standards and protocols (Correct answer)
Speed of completion over thoroughness
Cost reduction at all levels

Correct answer: Compliance with established standards and protocols

Compliance with established standards and protocols must be the first priority, as it ensures safety, quality, and legal adherence in professional practice.

Question 94: How should a AEP professional handle a situation where regulatory compliance & ethics protocols conflict with practical constraints?

Document the conflict and seek guidance from appropriate authorities (Correct answer)
Always ignore the protocols in favor of practicality
Avoid addressing the conflict entirely
Make a unilateral decision without consultation

Correct answer: Document the conflict and seek guidance from appropriate authorities

When protocols conflict with practical constraints, the professional approach is to document the conflict and seek guidance, ensuring transparency and compliance while working toward a resolution.

Question 95: How should a AEP professional handle a situation where financial analysis & reporting protocols conflict with practical constraints?

Avoid addressing the conflict entirely
Always ignore the protocols in favor of practicality
Document the conflict and seek guidance from appropriate authorities (Correct answer)
Make a unilateral decision without consultation

Correct answer: Document the conflict and seek guidance from appropriate authorities

When protocols conflict with practical constraints, the professional approach is to document the conflict and seek guidance, ensuring transparency and compliance while working toward a resolution.

Question 96: When implementing financial analysis & reporting practices, what should a AEP professional prioritize first?

Personal convenience and efficiency
Cost reduction at all levels
Speed of completion over thoroughness
Compliance with established standards and protocols (Correct answer)

Correct answer: Compliance with established standards and protocols

Compliance with established standards and protocols must be the first priority, as it ensures safety, quality, and legal adherence in professional practice.

Question 97: Which documentation practice is most important for risk assessment & mitigation in the AEP field?

Using informal notes instead of official records
Documenting only when legally required
Recording only successful outcomes
Maintaining complete, accurate, and timely records (Correct answer)

Correct answer: Maintaining complete, accurate, and timely records

Maintaining complete, accurate, and timely records is crucial for accountability, quality assurance, and legal compliance in risk assessment & mitigation.

Question 98: Which estate planning tool allows a donor to make a large irrevocable gift to a pooled fund managed by a charity while retaining the right to income for life, with the remainder passing to the charity?

Charitable Lead Trust
Supporting Organization
Pooled Income Fund (Correct answer)
Donor-Advised Fund

Correct answer: Pooled Income Fund

A Pooled Income Fund (PIF) pools contributions from multiple donors, each retaining a pro-rata income interest based on investment earnings, with the remainder passing to the sponsoring charity at the donor's death.

Question 99: An AEP serving on an estate planning team is asked by the client's adult child (who is not a client) to share information about the parent's estate plan. The AEP's proper response is to:

Share information only after the client's death when probate records become public
Provide information only if the child signs a non-disclosure agreement
Share general information since the child will eventually be a beneficiary
Decline to disclose any client information absent the client's explicit authorization (Correct answer)

Correct answer: Decline to disclose any client information absent the client's explicit authorization

A professional's fiduciary duty of confidentiality prohibits disclosing any client information to third parties, including family members, without the client's explicit authorization.

Question 100: An AEP acting as a personal representative discovers the decedent's estate includes a closely held business with no formal valuation. What is the most critical fiduciary step?

Sell the business immediately to avoid ongoing fiduciary exposure
Engage a qualified independent business valuator (Correct answer)
Distribute the business to the residuary beneficiary at book value
Use the decedent's original purchase price as fair market value

Correct answer: Engage a qualified independent business valuator

A personal representative must engage a qualified independent appraiser to determine the fair market value of a closely held business for proper estate administration and tax reporting.

Accredited Estate Planner (AEP®) Exam

The AEP® designation signifies advanced knowledge and experience in estate planning, covering legal, tax, and financial aspects of wealth transfer.

100

Questions

120 min

Time Limit

70%

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