Updated: Jul 26, 2026
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| Certification Vendor: | The American College of Financial Services |
| Exam Name: | Fundamentals of Estate Planning |
| Exam Number: | HS330 |
| Exam Format: | Multiple-choice, Scenario-based questions |
| Available Languages: | English |
| Passing Score: | 700 out of 1000 (70%) |
| Real Exam Qty: | 85–100 |
| Exam Price: | $295 USD |
| Certificate Validity Period: | No expiration; course credit remains valid for designation completion |
| Exam Duration: | 120 minutes |
| Related Certifications: | Chartered Financial Consultant (ChFC) Chartered Life Underwriter (CLU) CFP Certification Education |
| Recommended Training: | HS 330 Official Study Materials |
| Exam Registration: | Official Course & Exam Registration Pearson VUE Scheduling |
| Sample Questions: | American College HS330 Sample Questions |
| Exam Way: | Computer-based proctored exam: onsite at Pearson VUE centers or online remote proctoring |
| Pre Condition: | No mandatory prerequisites; recommended prior knowledge of basic financial and tax concepts |
| Official Syllabus URL: | https://www.theamericancollege.edu/learn/courses/hs-330-fundamentals-estate-planning |
| Section | Weight | Objectives |
|---|---|---|
| Estate Planning Process & Legal Foundations | 20% | - Objectives and ethical considerations - Wills, powers of attorney, and advance directives - Probate process and non-probate transfers - Property ownership forms and titling |
| Trusts & Fiduciary Arrangements | 20% | - Revocable and irrevocable trusts - Generation-skipping transfer tax (GSTT) - Trust income taxation - Specialized trust structures |
| Federal Estate Tax System | 25% | - Credits and tax computation - Gross estate inclusion rules - Marital and charitable deductions - State death taxes and basis adjustments |
| Advanced Planning Strategies | 15% | - Charitable giving techniques - Business succession planning & buy-sell agreements - Life insurance in estate planning - Planning for incapacity and special needs |
| Federal Gift Tax System | 20% | - Gift tax calculation and strategies - Exclusions, exemptions, and valuation rules - Taxable gifts and filing requirements |
1. A widower dies leaving a net probate estate of $300,000. At the time of his death, his descendants are as follows:
*A son, Joe, who has no children;
*A deceased daughter, Mary, whose two children, Irene and Sally, survive; and
*A daughter, Anne, who has one child, Harry
Assuming that the widower's will provides for the distribution of his assets in equal shares to his children, per stirpes, which of the following correctly states the amounts each descendant will receive?
A) $100,000 to Joe, $50,000 to Irene, $50,000 to Sally, and $100,000 to Anne
B) $60,000 to Joe, $60,000 to Irene, $60,000 to Sally, $60,000 to Anne, and $60,000 to Harry
C) $100,000 to Joe, $50,000 to Irene, $50,000 to Sally, $50,000 to Anne, and $50,000 to Harry
D) $75,000 to Joe, $75,000 to Irene, $75,000 to Sally, and $75,000 to Anne
2. All the following transfers are subject to the generation-skipping transfer tax (GSTT) EXCEPT:
A) A termination of a trust at the death of thenonskip life income beneficiary with the remainder distributed solely to skip persons.
B) A direct cash payment of $28,000 from a grandparent to a private prep school to cover the tuition costs for her grandchild.
C) A direct cash gift of $50,000 from a grandparent to his grandchild if such grandchild's parents are still alive.
D) A distribution to a grandchild from a sprinkle trust created by a grandparent to benefit both skip and non-skip beneficiaries.
3. Mr. Barlow died early this year. Under the terms of his will he left all his real estate and tangible personal property to his son. All the remainder of his probate estate was left to his wife, Mrs.
Barlow. The following is a list of Mr. Barlow's probate assets and their fair market values at the time of his death:
*Commercial real estate $200,000
*Furniture and fixtures 100,000
*Listed common stock 150,000
*Notes receivable 250,000
In addition, Mrs. Barlow owned a $400,000 life insurance policy on Mr. Barlow's life with Mr. Barlow's estate designated as beneficiary. Based on this information, what is the amount of property in Mr. Barlow's estate qualifying for the federal estate tax marital deduction?
A) $400,000
B) $150,000
C) $800,000
D) $1,100,000
4. Which of the following acts by a person other than a lawyer is (are) clearly an unauthorized practice of law?
1.A trust officer gives a client advice about the taxation of a trust.
2.A CPA designs an estate plan for presentation to a client.
A) Neither 1 nor 2
B) 1 only
C) 2 only
D) Both 1 and 2
5. Nontax benefits of lifetime gifts include all the following EXCEPT to
A) provide for the education of thedonee
B) reduce probate and administrative costs
C) obtain privacy that is not possible to obtain through testamentary transfers
D) avoid claims of creditors evidenced by liens
Solutions:
| Question # 1 Answer: A | Question # 2 Answer: B | Question # 3 Answer: C | Question # 4 Answer: A | Question # 5 Answer: D |
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