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[Aug.-2017-New From Google Drive]Most Accurate Microsoft MCP 70-348 Dumps Exam Questions And Answers with Pass Results for Microsoft Office 365 Video Series

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Exam Code: 70-348
Exam Name: Managing Projects and Portfolios with Microsoft PPM (beta)
Updated: Aug 16, 2017
Q&As: 48

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70-348 dumps

2017 Microsoft 70-348 Dumps (All 48 Q&As) From Pass4itsure:

QUESTION 1
Many trust instruments provide for the removal of the original trustee. Valid reasons for removing the
original trustee include which of the following?
– A shift in trust situs is desirable because of changes in law.
– The beneficiary has moved his or her residence to a distant state.
A. Neither 1 nor 2
B. 1 only
C. Both 1 and 2
D. 2 only
70-348 exam 
Correct Answer: C
QUESTION 2
In which of the following situations will the grantor be taxed on income from trust property.
– The grantor of a trust gives one of the trust beneficiaries the right to add or delete beneficiaries.
– An adverse party to the grantor holds the power to determine the timing of trust distributions to the
beneficiaries.
A. 1 only
B. Both 1 and 2
C. 2 only
D. Neither 1 nor 2
Correct Answer: D
QUESTION 3
The following are facts concerning a decedent’s estate:
– Taxable estate $1,800,000
– Pre-1977 taxable gifts 100,000
– Post-1976 adjusted taxable gifts 150,000
– Post-1976 gifts made to a qualified charity 200,000
A. $1,800,000
B. $1,950,000
C. $1,650,000
D. $2,150,000
70-348 dumps 
Correct Answer: B
QUESTION 4
Items that are deductions from a decedent’s gross estate in determining his adjusted gross estate include
which of the following?
– Foreign death taxes
– State death taxes
A. Neither 1 nor 2
B. Both 1 and 2
C. 1 only
D. 2 only
Correct Answer: A
QUESTION 5
All the following trust provisions avoid causing the inclusion of an irrevocable life insurance trust in an
insured’s gross estate EXCEPT
A. a trustee’s power to pay estate expenses
B. a trust beneficiary’s power to withdraw contributions to the trust
C. a trustee’s power to loan assets to the estate at the trustee’s discretion
D. a trustee’s power to purchase assets from the estate at the trustee’s discretion
70-348 pdf 
Correct Answer: A
QUESTION 6
Which of the following terms applies to the blending together of separate and community properties of
spouses in community-property states?
A. Inception
B. Transmutation
C. Commingling
D. Proration
Correct Answer: C
QUESTION 7
All the following statements concerning wills are correct EXCEPT:
A. Once a person is named as an executor in a will, he or she is required to serve.
B. A codicil is a valid modification of a will.
C. A testator may lose the capacity to revoke a will prior to death.
D. In most states a surviving spouse can elect against a will that completely disinherits him or her.
70-348 vce 
Correct Answer: A
QUESTION 8
If a grantor establishes an irrevocable trust, the income of the trust will be taxed to the grantor if it is used
to pay premiums for life insurance on the life of
A. a child of the grantor
B. the father of the grantor
C. the spouse of the grantor
D. a grandchild of the grantor
Correct Answer: C
QUESTION 9
Which of the following statements concerning ownership of property in the form of a joint tenancy with right
of survivorship is correct?
A. Qualified joint tenancies cannot be severed without mutual consent.
B. Upon the death of a joint tenant, the surviving joint tenant receives the decedent’s interest by operation
of law.
C. Nonqualified joint tenants may have unequal interests in the property.
D. This form of ownership is limited to real property.
70-348 exam 
Correct Answer: B
QUESTION 10
Which of the following statements concerning executors is correct?
A. An executor can be given broad and discretionary powers with respect to the management of the
estate.
B. All executors must post bonds.
C. The executor must be a licensed attorney in the decedent’s state of domicile.
D. The executor named in the will of a deceased person is automatically authorized to act.
Correct Answer: A
QUESTION 11
Which of the following statements concerning the generation-skipping transfer tax (GSTT) is (are) correct?
– An annual exclusion against GSTT will shelter gifts by a grandparent to a trust benefitting multiple
grandchildren.
– Tuition payments made directly by a grandparent to a university for a grandchild’s education are exempt
from GSTT.
A. Neither 1 nor 2
B. 1 only
C. Both 1 and 2
D. 2 only
70-348 dumps 
Correct Answer: D
QUESTION 12
All the following statements concerning real property ownership by married couples as joint tenants with
right of survivorship are correct EXCEPT:
A. All benefits of ownership remain available to the surviving spouse without interruption during the
administration of the deceased spouse’s estate.
B. In common-law states the total value of the property receives a stepped-up tax basis in the estate of
the first spouse to die.
C. Jointly held property between spouses does not pass through the probate estate of the first spouse to
die.
D. The deceased spouse’s interest in the property qualifies for the marital deduction since it passes
outright to the surviving spouse.
Correct Answer: B
QUESTION 13
Many trust instruments provide for the removal of the original trustee. All the following are valid reasons for
removal of a trustee EXCEPT:
A. A shift in trust situs is desirable because of changes in law.
B. The beneficiary is not able to get along with the present corporate trustee.
C. The beneficiary has moved his or her residence to a distant state.
D. The beneficiary has been successful with investments and wants to manage the trust assets.
70-348 pdf 
Correct Answer: D
QUESTION 14
A father bought stock for $100,000 and gave it to his son when it was worth $300,000. The father paid no
gift tax on the transfer. When the son sold the property 2 years after the gift, his income tax basis was
A. $100,000
B. 0
C. $300,000
D. $200,000

Correct Answer: A
QUESTION 15
A father deeded a house as a gift to his daughter in 1990 but retained the right to live in it until his death.
He died this year while still living in the house. The following are relevant facts: The father bought the
property in 1980 for $130,000. The fair market value of the property when the gift was made in 1990 was
$150,000. The father filed a timely gift tax return but paid no gift tax because of the applicable credit
amount. The fair market value of the property at the father’s death was $220,000. The daughter sold the
property 3 months after her father’s death for $220,000. She had a gain of
A. $120,000
B. 0
C. $140,000
D. $220,000
70-348 vce 
Correct Answer: B

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