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02 Quiz 1 (FINAL)

This document contains a 15 item true/false quiz about estate tax and succession. It tests understanding of key concepts like whether succession is similar to donation, what intestate and testate refer to, who can prepare a will, what types of successions are subject to estate tax, and who qualifies as an heir. The student answered most items correctly, incorrectly identifying succession as similar to donation and the role of an executor. This quiz assessed a student's knowledge of important legal concepts regarding estate tax and succession under Philippine law.

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Fritch Solis
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145 views1 page

02 Quiz 1 (FINAL)

This document contains a 15 item true/false quiz about estate tax and succession. It tests understanding of key concepts like whether succession is similar to donation, what intestate and testate refer to, who can prepare a will, what types of successions are subject to estate tax, and who qualifies as an heir. The student answered most items correctly, incorrectly identifying succession as similar to donation and the role of an executor. This quiz assessed a student's knowledge of important legal concepts regarding estate tax and succession under Philippine law.

Uploaded by

Fritch Solis
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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BM1903

NAME: DATE: SCORE:

Estate Tax (13 items x 3 points: 2 points for each correct answer and 1 point for the justification)
Identify whether each statement is TRUE or FALSE and justify your answer on the space provided.

FALSE1. Succession is a mode of acquisition of property similar to donation.


SUCCESSION IS A GRATUITOUS TRANSFER OF PROPERTY UPON DEATH OF THE DONOR TO HIS/HER
HEIRS

TRUE 2. Inheritance refers to the property which will be transmitted to the heirs.
INHERITANCE INCLUDES ALL THE PROPERTY, RIGHTS, AND OBLIGATIONS

TRUE 3. The right to succession is transmitted from the moment of death of the decedent.
SUCCESSION IS A GRATUITOUS TRANSFER OF PROPERTY UPON DEATH OF THE DONOR TO HIS/HER
HEIRS

FALSE4. A decedent with a last will and testament is said to be intestate.


INTESTATE ARE THOSE WITHOUT A WILL

TRUE 5. The succession over properties of a decedent who prepared a will but covers only a portion of his
estate is called mixed succession.
MIXED IS THAT EFFECTED PARTLY BY WILL AND LAW

FASLE6. A person who prepared a will is referred to as the executor.


THE PERSON IS CALLED A DECEDENT

TRUE 7. A person who died with a will is said to be testate.


TESTATE ARE THOSE WITH WILL

TRUE 8. The succession by operation of law is called intestate succession.


INTESTATE ARE THOSE WITHOUT A WILL, THUS OPERATED BY LAW

FALSE9. The will may be prepared by the heirs of the decedent.


WILLS ARE PREPARED BY THE DECEDENT

FALSE10. The will may be prepared after the death of the decedent.
WILLS ARE ONLY PREPARED BEFORE THE DEATH OF THE DECEDENT

FALSE11. Only testamentary successions are subject to estate tax.


ALL SUCCESSION ARE SUBJECT TO ESTATE TAX

TRUE 12. Successions whether testamentary, intestate, or mixed are subject to estate tax.
ALL SUCCESSION ARE SUBJECT TO ESTATE TAX

TRUE 13. The decedent’s successors in interest are referred to as heirs.


TRANSFEREE IN DONATION MORTIS CAUSA IS CALLED HEIRS

FALSE14. With a last will and testament, the decedent can name any person which he wants as heir.
THE DECEDENT MUST STATE THE SUCCESSIONS DEPENDING ON THE HIERARCHY

FALSE15. The secondary compulsory heirs shall inherit only in default of concurring heirs.
SECONDARY COMPULSORY HEIRS SHOULD HAVE RIGHT TO INHERIT FIRST IN DEFAULT OF PRIMARY
COMPULSORY.

02 Quiz 1 *Property of STI


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