At the Time of His Death, Jason Was a Participant

question 135

Multiple Choice

At the time of his death, Jason was a participant in Silver Corporation's qualified pension plan and group term life insurance. The balance of the survivorship feature in his pension plan is: The term insurance has a maturity value of $100,000. All amounts are paid to Pam, Jason's daughter. One result of these transactions is:

• A) Pam must pay income tax on $300,000.
• B) Pam must pay income tax on $1,100,000.
• C) Jason's gross estate must include $1,200,000.
• D) Jason's gross estate must include $1,500,000.
• E) None of the above.

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Definitions:

Leadership Grid

A conceptual framework used to evaluate and categorize leadership styles based on a leader’s concern for people versus their concern for production or task accomplishment.

Camaraderie

A spirit of friendship, trust, and solidarity among people who spend a lot of time together, typically in a work or military setting.

Tasks

Specific pieces of work to be done or undertaken by an individual or group.

Accountable

Being responsible or answerable for one's actions or decisions within an organizational or personal context.