Which of the Following Is Not a Test for an Interest

question 80

Multiple Choice

Which of the following is not a test for an interest to qualify for the marital deduction?

• A) If a QTIP transfer is made, the spouse must be entitled to all of the income at least annually for life.
• B) The interest conveyed must not be a nondeductible terminable interest.
• C) The property must be included in the decedent's gross estate.
• D) All of the above are required.

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Definitions:

Tariff

A tax levied on imported and, less commonly, exported goods, used to regulate trade by increasing the price of foreign products to encourage or protect domestic industry.

Real Exchange Rate

The rate at which a person can trade goods and services of one country for those of another, adjusted for inflation.

Import Quota

A limit set by a government on the quantity of a specific good that can be imported into the country.

Interest Rate

The amount charged by lenders to borrowers for the use of money, expressed as a percentage of the principal per period of time.