1Which property is covered by the reciprocity exemption?

Intangible personal property in the Philippines

Tangible personal property abroad

Intangible personal property abroad

Tangible personal property in the Philippines

2Mr. A made an irrevocable donation in trust in favor of Mr. C. Mr. C died two years after receiving the donation. Which is correct?

None of these

The property shall be excluded in the gross estate of Mr. C.

The property shall be included in the gross estate of Mr. A.

The property shall be included in the gross estate of Mr. C.

3Statement 1: Under absolute community of property, properties are presumed community unless proven otherwise. Statement 2: Under conjugal partnership of gains, properties are presumed conjugal unless proven otherwise. Which is correct?*

Statement 2

Both statements

Statement 1

Neither statement

4The proceeds of life insurance designated by the decedent to his/her executor is excluded in gross estate

under no circumstances.

if the designation is revocable

without regard to the designation as revocable or irrevocable

if the designation is irrevocable

Answer only