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______________

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.

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 __________