1) A, an individual, has a 30 percent interest in a partnership. The partnership, P, owns 40% of X co. A owns the remaining 60% of X co. Which statement is true regarding the ownership of X co.?

	a.	A - 60% and P - 52%
	b.	None of these.
	c.	A - 100% and P - 100%
	d.	A - 72% and P - 70%
	e.	A - 72% and P - 100%

2)

A and B are unrelated and each owns 50 percent of X co. A owns 30% of Y co. and X co. owns the remaining 70% of Y co. Which statement is true regarding the ownership of Y co.?

	a.	A -100% B - 35% X co. - 100%
	b.	A -65% B - 50% X co. - 85%
	c.	A -65% B - 50% X co. - 100%
	d.	None of these.
	e.	A - 65% B - 35% X co. - 100%

3) Which statement is false?

	a.	A redemption not essentially equivalent to a dividend receives sale or exchange treatment.
	b.	Code 318 attribution rules apply to redemptions under Code 302.
	c.	A proportionate redemption receives sale or exchange treatment.
	d.	None of these.
	e.	More than one of these.

4) H, his wife W, their only child S and their grandson, G each own 20 shares of Z co. H's brother B owns the remaining 20 shares of Z co. Utilizing the attribution rules of I.R.C. 318, which statement is true?

	a.	H owns 100% of Z co.
	b.	More than one of these.
	c.	None of these.
	d.	G owns 60% of Z co.
	e.	S owns 80% of Z co.

5)

H and his grandfather (GF) each own 25% of X co. Z co. owns the other 50% of X co. H owns 60% of Z co. and B, unrelated to H, owns 40% of Z co. H's wife W owns none of X co. directly. Utilizing the attribution rules of Code 318, which statement is true?

	a.	B owns 20% of X co.
	b.	None of these.
	c.	More than one of these.
	d.	W owns 55% of X co.
	e.	H owns 25% of X co.