Quiz No. 1

Which of the following statements is false? Transfer tax is

• Imposed upon gratuitous transfer of property

• of two kinds: estate tax and donor's tax

• classified as national tax

• none of the above

The object of estate tax is the:

• right to transmit

• decedent

• properties of the decedent

• beneficiaries

The tax imposed on the transfer of property without consideration between two or more persons who are living at the time the transfer is made is (a)  

Which of the following is a compulsory heir? Check all possible answers.

• legitimate children

• uncle and aunts

• widow or widower

• parents or ascendants

• brothers and sisters

Which of the following are the kinds of succession?Check all possible answers.

• testamentary or testate succession

• constitutional succession

• legal or intestate succesion

• direct succession

• mixed succession

If the surviving heirs in an estate succession are the parents and a legitimate child of the decedent, what is the share of the parents in the legitimes?

• 1/3

• 1/2

• 1/4

• none

In which of the following cases is a will invalid?

• when no heir has been instituted

• when the will was executed in a language not known to the testator

• when the institution does not cover the entire estate

• when the instituted heir is incapacitated to succeed

It deprives an heir to inherit properties by the decedent through the issuance of a will.

(a)  

Which is not authorized to take charge of the estate during intestate period?

• executor

• court

• administrator

• heirs

Certain portion of the estate of a deceased Filipino citizen cannot be freely disposed of because Philippine law reserves them for the "compulsory heirs". This portion is known as (a)