At His Death Tyrone's Life Insurance Policy Paid His Estate

question 110

Multiple Choice

At his death Tyrone's life insurance policy paid his estate $85,000. What amount, if any, is included in Tyrone's gross estate?

• A)$85,000.
• B)$85,000 if Tyrone had an incident of ownership of the policy at the time of his death.
• C)zero if Tyrone did not transfer any ownership of the policy within three years of his date of death.
• D)zero-life insurance proceeds due to the death of the decedent are not included in the gross estate.
• E)zero if Tyrone's estate uses the insurance proceeds to pay Tyrone's estate tax.

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Definitions:

Yea-Sayers

Individuals who have a tendency to agree with statements or questions, often affecting the validity of survey or psychological test results.

Naysayers

Individuals who express negativity or skepticism towards ideas, plans, or changes, often discouraging progress.

Misses

In the context of signal detection theory, instances where a present signal is not detected or recognized.

Pupil

The opening in the center of the iris of the eye that regulates the amount of light that enters.