24. Which of the following charitable trusts allow investments in securities that are exempt from taxes? 1. CRATS. 2. CRUTS. 3. Pooled income fund. a. 1 only. b. 2 only. c. 1 and 2 . d. 1 and 3. 25. Which of the following charitable trusts allow sprinkling provisions? 1. CRATS. 2. CRUTS. 3. Pooled income fund. a. 1 only. b. 2 only. c. 1 and 2 . d. 2 and 3. 26. Which of the following charitable trusts allow both term certain up to 20 years and life annuities? 1. CRATs. 2. CRUTS. 3. Pooled income funds. a. 1 only. b. 2 only. c. 1 and 2 . d. 1,2 , and 3 . 27. On January 15th, Manny transfers property to a trust over which he retains a right to revoke one-fourth of the trust. The trust is to pay Holly 5% of the trust assets valued annually for her life with the remainder to be paid to a qualified charity. On September 1st, Manny dies and the trust becomes irrevocable. Which of the following trusts does this qualify as? a. A CRAT. b. A CRUT. c. A pooled income fund. d. None of the above. 28. On January 15 th, Lennox transfers property to a trust over which he retains a right to revoke one-fourth of the trust. The trust is to pay Claudia 5% of the trust assets valued annually for her life with the remainder to be paid to a qualified charity. On September 1st, Lennox dies and the trust becomes irrevocable. Which of the following statements is/are correct? 1. The trust is created January 15 th. 2. The trust is created when it becomes irrevocable at September 1 st. 3. Lennox receives a charitable deduction equal to the present value of 25% of the remainder interest. 4. Lennox receives a charitable deduction equal to the present value of 75% of the remainder interest. a. 1 only. b. 3 only. c. 1 and 2 . d. 3 and 4 . 29. Which of the following charitable techniques allow the grantor/transferor to manage the transferred assets? 1. CRATs. 2. CRUTS. 3. Pooled income fund. a. 1 only. b. 2 only. c. 3 only. d 1 and 2 . 30. Which of the following charitable trusts allow for additional inter vivos contributions to be made after the inception of the trust? 1. CRATs. 2. CRUTS. a. 1 only. b. 2 only. c. Both 1 and 2 . d. Neither 1 nor 2. 31. Which statement about the gift tax marital deduction is incorrect? a. One spouse may gift any amount to the other spouse without gift tax as long as the gift is not terminable interest property. b. The unlimited gift tax marital deduction is not available to non-citizen spouses. c. Non-citizen spouses may receive survivor benefits under a joint-and-survivor annuity. d. The regular annual exclusion available to all donees is available for gifts to non-citizen spouses. 32. The marital deduction for transfers to a U.S. citizen spouse is: a. Limited to $15,000 per year of marriage. b. Limited to $157,000 (as indexed for inflation for 2020 ). c. Unlimited. d. Unlimited except for lifetime gifts. 33. Only property that passes from the deceased spouse to the surviving spouse is eligible for the marital deduction. Which of the following will not qualify for the estate tax marital deduction? a. A terminable interest in property. b. Property passed under state intestacy laws. b. Limited to $157,000 (as indexed for inflation for 2020 ). c. Unlimited. d. Unlimited except for lifetime gifts. 33. Only property that passes from the deceased spouse to the surviving spouse is eligible for the marital deduction. Which of the following will not qualify for the estate tax marital deduction? a. A terminable interest in property. b. Property passed under state intestacy laws. c. Life insurance proceeds. d. Property passed by will. 34. Which of the following is not an advantage of the marital deduction? a. There is no estate tax at the first spouse's death. b. The surviving spouse receives a stepped-up basis on property qualifying for the marital deduction. c. With proper planning, it provides a way to minimize estate tax liability for both spouses. d. If the first spouse to die took full advantage of the marital deduction, all property in the surviving spouse's estate at his or her death is subject to the federal estate tax