5. If Janice were to name Carolyn as the beneficiary of the life insurance policy on her mother, and then her mother dies, the tax consequences would be:

   1. a) Janice would be subject to gift taxation for a gift to her daughter

   2. b) Janices mother would be subject to gift taxation for a gift to her daughter

   3. c) Janices mother would be subject to generation-skipping taxes for a gift to her granddaughter

   4. d) None of the above