1. Using RIA Checkpoint, answer this question and questions 2 - 15. Using the TOOLS function calculate the total amount you would save over the life of the loan, by taking a 15-year mortgage instead of a 30-year mortgage. Assume a $300,000 loan with an interest rate of 4%, aand that your marginal rate of tax is 22%, for both loans.

a. $116,175

b. $144,167.

c. $787.

d. None of the above.

2. Which paragraph of the Federal Tax Coordinator Analysis addresses extensions of tax deadlines on account of the COVID-19 pandemic?

a. M-1200 .

b. G-1300.

c. S-8501.07A.

d. S-1820.

3. Find the following case: 108 TC 507. Using the "citator" button determine how many times the case was "Cited Favorably" by another court.

a. 3.

b. 2.

c. 11.

d. 4.

4. Find the Internal Revenue Code section that governs disallowance of losses between related parties. What is the code section?

a. IRC Section 351.

b. IRC Section 302.

c. IRC Section 267.

d. IRC Section 318.

5. Did the U.S. Supreme Court reverse of affirm the Court of Appeals inIndopco v. Comm.,503 US 79.

a. affirm.

b. reverse.

6. Locate the Revenue Ruling that addresses whether an amount paid to construct a swimming pool is deductible as a medical expense, and indicate whether the expense was deductible or not deductible.

a. Rev. Rul. 83-33, not deductible.

b. Rev. Rul. 83-33, deductible.

c. IRC 83, deductible.

d. IRC 83, not deductible.

7. Find the case with the following citation: TC Memo 1983-667. Did the IRS issue an acquiescence or nonacquiescence?

a. Acquiescence.

b. Nonacquiescence.

8. What is the topic of Announcement 2009-56?

a. IRA Rollovers.

b. Security Related to Fraudulent Returns.

c. Net Operating Losses.

d. Gambling Winnings.

9. Locate a tax court case where a man was disallowed a casualty deduction when, because he was mad, started his wife's clothes on fire, and accidently burned down the house. What is the Volume number of the tax court case?

a. 77,

b, 88.

c. 677.

d. 26.

10. Find a journal article written in theJournal of Taxationby Steven Petra and Nina Dorata regarding illegal business expenses. When was the article published?

a. Oct 2017.

b. Sept 2009.

c. Dec 2013.

d. May 2018.

11. What will the following search retrieve: Depreciation /5 driveway.

a. All documents with the word depreciation located within five words of the word driveway.

b. All documents with the word depreciation located within five sentences of the word driveway.

c. All documents that contain either the word depreciation or the word driveway or both words.

d. Only documents that contain the phrase "Depreciation /5 driveway".

12. Is a Private Letter Ruling authoritative for all taxpayers?

a. Yes.

b. No,

13. Are Treasury Regulations primary sources of law?

a. Yes.

b. No.

14. The earliest Revenue Procedures you can find on RIA Checkpoint are from the year:

a. 1967.

b. 1953.

c. 1955.

d. 2017.

15. The best search connector to use if you want to find documents containing variations of a keyword such as "dependent" would be:

a. #.

b. ^.

c. ?.

d. *.