NACVA Exam CVA Topic 4 Question 22 Discussion

Actual exam question for NACVA's CVA exam

Question #: 22
Topic #: 4

Any Buy-Sell agreement, restrictions, or other similar factor relating to the right to use or sell the property will be ignored for estate gift, and generation skipping tax purposes unless the agreement meets any of the following test EXCLUDING:

AIt is a bona fide business arrangement

BIt must be a device to transfer the property to the natural objects of the transferor's bounty (such as family members) for less than adequate and full consideration in money or money's worth

CIts terms must be comparable to similar arrangements entered into by persons in an arm's length transaction

DIt is a key player in Buy-Sell arrangements

Show Suggested Answer

Suggested Answer: D

by Mitzie at May 03, 2022, 02:28 PM

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