Exercises: Estate Tax through his death to another or others either by his will

or by operation of law.
Part 1. a. Succession
b. Donation
1. Estate Tax is c. Prescription
a. A property tax because it is imposed on the d. Exchanges
property transmitted by the decedent to his
heirs. 8. Which statement is false about succession?
b. An indirect tax because the burden of paying the a. The successor inherits all the transmissible
tax id shifted on the executor or any of the heirs property of a decedent including his liabilities.
of the decedent. b. The successor can be made liable for the
c. An excise tax because the object of which is the obligations of the decedent beyond the value of
shifting of economic benefits and enjoyment of the asset he received.
property from the dead to the living. c. In succession, fruits and credits maturing after
d. A poll tax because it is also imposed on the death of the decedent pass to the heirs even
residents of the Philippines whether Filipino if the they were not subjected to estate tax.
citizens or not. d. In succession, the successor can refuse the
inheritance.
2. Estate tax accrues from:
a. The moment of death of the decedent 9. Which of the following could legally effect transfer of
b. The moment the notice of death is filed properties through succession?
c. The moment the estate tax return is filed I. By virtue of a will
d. The moment the properties are delivered to the II. By operations of law
heirs III. By onerous transfer

3. The taxpayer in estate tax is: a. I only

a. The decedent b. I and II only
b. The estate as a juridical entity c. I and III only
c. The heirs or succession d. I, II, III
d. The administrator or executor
10. An act whereby a person is permitted, with the
4. Who has the personal liability to pay estate tax? formalities prescribed by law, to control to a certain
a. The decedent degree the disposition of his estate, to take effect after
b. The estate as a juridical entity the death.
c. The heirs or succession a. Contract
d. The administrator or executor b. Trust
c. Heir
5. It is a well settled rule that estate taxation is governed d. Executor
by the statute in force at the time of:
a. Creation of the last will and testament or death 11. The following are the elements of succession, except:
of the decedent in case of intestate succession. a. Decedent
b. Death of the decedent b. Estate
c. Filing of the estate tax return c. Heir
d. Either letter “b” or “c” whichever will result to d. Executor
higher estate tax liability.
12. The properties, rights and obligations of a person
6. An executor or administrator, after paying the estate which are not extinguished by his death and those
tax, and to escape a future liability for a deficiency estate which have accrued thereto since the opening of
tax, must secure a written discharge from personal succession.
liability from: a. Inheritance
a. The heirs. b. Capital
b. The Commissioner of Internal Revenue c. Estate
c. The court where the estate was being settled d. Devisee
d. Need not to secure a written discharge as long
as he has a receipt on payment of estate tax. 13. Succession which results from the designation of an
heir, made in a will executed in the form prescribed by
7. It is a mode of acquisition by virtue of which the law
property, rights and obligations to the extent of the a. Legal or intestate succession
value of the inheritance, of a person are transmitted b. Testamentary succession
 c. Mixed succession c. the tangible personal property is in the
d. Ordinary succession Philippines.
d. the personal property is shares of stock of a
14. The portion of the decedent’s estate which the law domestic corporation 90% of whose business is
reserves to his compulsory heirs is called: in the Philippines.
a. Legitime 21. All of the following are considered intangible in the
b. Free portion Philippines, except:
c. Legacy a. Franchise which must be exercised in the
d. Bequest Philippines.
b. Shares, obligations or bonds issued by aby
15. Which of the following is a valid will? corporation or Sociedad anonima organized or
a. That which reduces the legitime of compulsory constituted in the Philippines in accordance with
heirs its laws.
b. That which increase the share of one heir c. Shares, obligations, or bonds by any foreign
without impairing the legitime of the other corporation 75% of the business of which is
heirs. located in the Philippines.
c. That which transfer the legitime of one heir to d. Shares, obligations of bonds issued by any
the other heir. foreign corporation if such shares, obligations,
d. That which impair the legitime of compulsory or bonds have acquired business situs in the
heirs. Philippines.

16. A person who inherits specific personal property 22. Part of the estate left by A are preference shares of
thru a will: Maynilad. The shares are listed and traded in the PSE.
a. Devisee Which of the following rules of valuation is correct?
b. Legatee a. The preference shares will be valued using the
c. Heir arithmetic mean between the highest and lowest
d. Successor quotation at the date nearest the date of death, if
none is available on the date of death itself.
b. The preference shares will be valued based on
17. A person who inherits specific real property thru a their book value.
will: c. The preference shares will be valued based on
a. Devisee their par value.
b. Legatee d. The preference shares will be valued based on
c. Heir their fair market value as determined by the
d. Successor Commissioner of Internal Revenue.

18. Succession wherein the decedent did not leave any 23. Binat died on April 13, 2018, leaving the following
will: properties:
a. Voluntary succession  Common stock of Chris Corporation, 2,000
b. Legal succession shares, listed in the PSE, highest – P 40; lowest –
c. Mixed succession P 39
d. Testamentary succession  Common stocks of Cristina Corporation, 1,500
shares, not listed in the stock exchange. Cost – P
19. One of the following is subject to estate tax on 50 per share; book value – P 45 per share;
properties situated within the Philippines only  Preference shares of Christopher Corp., 3,000
a. Resident citizen shares, not listed in the stock exchange. Cost – P
b. Resident alien 70 per share; book value – P 60 per share; par
c. Non-resident citizen value – P 50 per share
d. Non-resident alien  Car, cost P 600,000; book value – P 350,000;
market value – P 400,000.
20. The personal properties of a non-resident citizen, not  Real Properties, zonal value – P 120,000;
citizen of the Philippines, would not be included in the assessed value – P 72,000.
gross estate if:  
a. the intangible personal property in the The gross estate of Binat is –
Philippines.
a. P 817,500 c. P 824,000
b. the intangible personal property is in the
b. P 816,500 d. P 846,500
Philippines and the reciprocity clause of the
estate tax law applies.
24. Nila Langaw, Filipina, died in Cambodia leaving the
following properties:
House and lot in Cambodia 1,000,000
Vacant lot in Manila 2,000,000
Shares of stock in a domestic
Corp., 60% of the business is
Located in the Philippines 100,000
Shares of stock in a foreign
Corp., 70% of the business is
Located in the Philippines 200,000
Car in Manila 500,000
How much is the gross estate?
a. P 3,800,000 c. P 2,500,000
b. P 2,600,000 d. P 2,000,000
25. Based on the preceding number, but assuming the
decedent is a non-resident alien, the gross estate is:
a. P 3,800,000 c. P 2,500,000
b. P 2,600,000 d. P 2,000,000
26. Continuing number 25, and the rule of reciprocity
applies, the gross estate is:
a. P 3,800,000 c. P 2,500,000
b. P 2,600,000 d. P 2,000,000
27. Lolo Sot, 95 years old, had been suffering from
various ailments. Motivated by though of death, he
decided to dispose all his properties to his children and
relatives. He executed a last will and testament
disposing all his properties in the Philippines to his
relatives. On the same day, he made donations inter-
vivos to his other relatives as to his properties in the
United States. Lolo Sot died three months after
disposing all his properties. Should the properties
donated by Lolo Sot to his other relatives be included in
the gross estate upon his death?
a. No, because they were not his properties
anymore at the time of death.
b. Yes, because the donations were donations
mortis causa and should be governed by the
rules on estate taxation.
c. No, if the donor’s tax had been paid already on
the donations.
d. No, because they were not transfer in
contemplation of death, since the donations
were not simultaneous with the execution of the
last will and testament.
28. One of the following donations is not included as
part of gross estate.
a. Revocable transfers
b. Transfers with revocation of certain rights
c. Transfer under special power of appointment
d. Transfer in contemplation of death
29. 1st statement: A died giving B power to appoint a
person who will inherit A’s house and lot. B, however,
can only choose among C, D, and F. B decided to
transfer the property to C in B’s will when he was old
already. The transfer from B to C is subject to estate tax.
2nd statement: During A’s lifetime, he decided to give B
his (A0 car subject to the condition that if B does not
become a CPA within 3 years, A shall revoke the
transfer. In the second year however, A died. The car
should form part of A’s gross estate.
a. True, true c. True, false
b. False, False d. False, true
30. Pedro, decedent, owns a property valued at P
1,500,00 at the time of his death. The said property was
sold by Pedro during his lifetime to Juan for P 700,000
when its value was P 1,200,000. It was agreed by Pedro
and Juan that the former will enjoy the income of the
property as long as he lives. For Philippine estate tax
purposes, how much will be included in determining
gross estate?
a. P 500,000 c. P 800,000
b. P 1,200,000 d. P 0
31. Based on the preceding number, if the fair market
value of the property at the time of death is only P
600,000, how much is the gross estate?
a. P 500,000 c. P 800,000
b. P 1,200,000 d. P 0
32. Yna died on October 20, 2018. During his lifetime,
upon knowing that he had stage 4 cancer, sold his car to
his son for P4M. The fair market value of the car at the
time of sale is P 3,000,000 while it is already valued at P
5,000,000 at the time of death. The amount that will be
added to gross estate is:
a. P 1,000,000 c. P 2,000,000
b. P 5,000,000 d. nil
33. Based on the preceding number, if the consideration
is fictitious, how much is the gross estate?
a. P 1,000,000 c. P 2,000,000
b. P 5,000,000 d. 0
34. Which of the following life insurance proceeds shall
not be included in the computation of gross estate?
a. Beneficiary is the estate, executor, administrator
and the designation of the beneficiary is
revocable.
b. Beneficiary is the estate, executor, administrator
and the designation of the beneficiary is
irrevocable.
c. Beneficiary is other than the estate, executor,
administrator and the designation of the
beneficiary is revocable.
d. Beneficiary is other than the estate, executor,
administrator and the designation of the
beneficiary is irrevocable.
35. The list provided below is exempt from the gross
estate, except.
a. Share in common properties of the surviving
spouse.
b. Exclusive property of the surviving spouse
c. Properties outside the Philippines of a non-
resident alien decedent
d. Intangible personal property in the Philippines
of a non-resident alien when the rule of
reciprocity applies.
36. The following are transactions and acquisitions
exempt from transfer tax, except:
a. transmission from the first heir or donee in favor
of another beneficiary in accordance with the
desire of the predecessor
b. Transmission or delivery of the inheritance or
legacy by the fiduciary heir or legatee to the
fideicommissary.
c. The merger of usufruct in the owner of the
naked title.
d. All bequest, devises, legacies, or transfers to
social welfare, cultural and charitable
institutions.
37. Statement 1: A devised in his will a piece of land;
naked title to B and usufruct to C for as long as C lives
thereafter to B. The transmission from A to B and C is
subject to estate tax but the merger of the usufruct and
the naked title to B upon the death of C is exempt.
Statement 2: X devised in his will real property to his
brother Y who is entrusted with the obligation to
preserve and transmit the property to Z, a son of Y,
when Z becomes of age. The transmission from Y to his
son Z is subject to tax.
a. First statement is correct, second statement is
wrong.
b. Both statements are not correct.
c. Both statements are correct.
d. First statement is wrong, second statement is
correct.
38. Statement 1: In the absence of marriage settlement
executed before the marriage, the property relationship
between husband and wife shall be governed by local
custom and by the provision of law, respectively.
Statement 2: Claims against insolvent persons may be
charged against exclusive property
a. Only statement 1 is correct
b. Only statement 2 is correct
c. Both statements are correct
d. Both statements are incorrect
39. One of the following is a conjugal property of the
spouses
a. That which is brough to the marriage as his or
her own
b. That which each acquires during the marriage
by inheritance.
c. The fruits of an exclusive property.
d. Fruits of the property inherited before marriage.
40. One of the following is not a community property of
the spouses.
a. Property inherited by the husband before
marriage
b. Winnings in gambling
c. Fruits of property inherited during the marriage
d. Fruits of property inherited before the marriage
Part 2.
41. If the decedent is married under CGP, vanishing
deduction shall be chargeable against?
a. Exclusive properties
b. Conjugal properties
c. Either exclusive or conjugal properties
d. Neither exclusive or conjugal properties.
The next four (4) questions are based on the data
provided below:
Mr. J Chavez die leaving the following properties:
Rest house in Cebu, acquired before marriage, P 6M
Income from rest house in Cebu, P 600,000
Condominium in Davao, brough to marriage by wife,
P3.6M
Income from condominium in Davao, P 360,000
Town house in Quezon City, acquired during marriage,
P10.5M
Income from town house in Quezon City, P 1,050,000
Car, inherited by wife during marriage (the decedent
provided in his will that it shall form part of the
common properties of the spouses), P 1.3M
Jewelry, acquired during marriage for exclusive use of
the wife, P 200,000
42. How much is the conjugal properties under CGP?
a. P 12,510,000 c. P 18,510,000
b. P 22,310,000 d. P 23,610,000
43. How much is the gross estate under CGP?
a. P 12,510,000 c. P 18,510,000
b. P 22,310,000 d. P 23,610,000
44. How much is the community properties under ACP?
a. P 12,510,000 c. P 18,510,000
b. P 22,310,000 d. P 23,610,000
45. How much is the gross estate under ACP?
a. P 12,510,000 c. P 18,510,000
b. P 22,310,000 d. P 23,610,000
50. Deductible claims against the estate or indebtedness
is respect of property may arise out of, except
 a. Contract
b. Tort
c. Operation of law
d. None of the choices
54. The following data were taken from estate of Pedro:
 Claims against Juan (insolvent), P 100,000 fully
uncollectible.
 Claims against Manuel (insolvent), P 200,000,
50% collectible.
 Claims against a person who absconded, P
300,000.
Based on the data provided, how much should be
deducted from the gross estate?
a. P 600,000 c. P 200,000
b. P 500,000 d. P nil
55. Which statement is incorrect about claim against
insolvent persons?
a. They must be included in the gross estate even if
uncollectible.
b. They must be duly notarized as a rule.
c. The deduction is only the uncollectible portion.
d. The insolvency of the debtor must be
established.
56. The following are the requisites in order for the
claims against the estate may be deductible except which
one?
a. They must be personal debt of the decedent.
b. They must be enforceable in court.
c. They may have been condoned prior to death.
d. If the loan was contracted 3 years before death,
submit statement showing the disposition of the
proceeds.
57. Mr. Pobre is in need of money to start a small
business. However, he has no property to secure a loan
from a bank so he sought the help of his good friend, Mr.
Rich. Mr. Rich obtained a loan from Banco de Oro
amounting to P1M pesos secured by a real property
worth P2M to accommodate the request of Mr. Pobre. If
subsequent to securing the loan and delivering to Mr.
Pobre the proceeds, Mr. Rich died, how much gross
estate should be reported?
a. P 100,000 c. P 3,000,000
b. P 2,000,000 d. nil.
58. Which of the following is not a requirement in
claiming unpaid mortgage as deduction for estate tax
purposes?
a. The fair market value of the mortgaged
property, net of the mortgage indebtedness,
should be included in the gross estate;
b. The fair market value of the mortgaged property
undiminished by the mortgage indebtedness
should be included in the gross estate;
c. The loan must be contracted in good faith;
d. The loan must be for an adequate and full
consideration.
59. If a loan is found to be merely an accommodation
loan where the loan proceeds went to another person,
which of the following statements is incorrect?
a. The value of the unpaid loan must be included
as a receivable of the estate.
b. If there is a legal impediment to recognize the
same as receivable of the estate, said unpaid
obligation shall not be allowed as a deduction
from gross estate.
c. In all instances, the mortgaged property, to the
extent of the decedent’ interest therein, should
always form part of the gross estate.
d. None of the choices.
60. The following are the requisites of vanishing
deduction, except:
a. The estate tax of the prior succession must have
been finally determined and paid.
b. The present decedent died within five (5) years
from the date of death of the prior decedent.
c. The property with respect to which deduction is
sought can be identified as having been received
by the present decedent from the prior decedent.
d. The property must have formed part of the gross
estate situation outside the Philippines of the
prior decedent.
61. AF, a citizen of the Philippines and resident of
Tacloban City, died testate on may 10, 2018. Among his
gross estate were properties inherited, from his deceased
father who died on April 4, 2019. What percentage of
deduction would be used in computing the amount of
vanishing deduction?
a. 80% c. 40%
b. 60% d. 20%
62. Ded Nha, a citizen of the Philippines and resident od
Manila died intestate on November 2, 2018. Among his
gross estate are properties acquired through public sale
of properties left by Bernardo who died 4 ½ years ago.
What percentage of deduction will be used in computing
the amount of vanishing deduction?
a. 60% c. 20%
b. 40% d. nil
63. Mr. Sibillo, a resident decedent, married, died,
leaving the following properties:
 Real and personal properties acquired during
the marriage, P 3M
 House and lot inherited from his father one year
and 3 months before he died (FMV when
inherited, P1.5M) used as the decedent’s family
home, P2M
 Car purchased with cash received as gift from
his mother during the year he died, P 500,000
  Cash (inclusive of P 500,000 received as Statement 2: A single individual can never claim a
inheritance from the father), P 1.5M family home allowance against the gross estate.
a. Only statement 1 is correct.
The following obligations and expenses were also made b. Only statement 2 is correct.
available: c. Both statements are correct.
 Claims against conjugal properties, P 600,000; d. Both statements are incorrect.
 Unpaid mortgage on the inherited house and lot
(original mortgage was P 600,000), P 100,000; 69. A decedent died leaving a family home composed of
the following. Conjugal house worth P 8M, and the land
How much is the vanishing deduction? which he exclusively owned valued at P4M. He also
a. P 1,530,000 c. P 1,000,000 owns a vacation house in Baguio worth P7M.
b. P 1,080,000 d. None of the choices
The deductible amount of family home is:
64. The Pok died on November 20, 2018. Some of the a. P 8M c. P 19M
properties he left are the following: b. P 12M d. P 10M
Mode of Date FMV
Asset Acquisition Acquired Acquired Death 70. Based on the preceding number, if the house is also
Land Purchase 7-3-14 500,000 350,000 an exclusive property, how much is the deductible
Car Donation 10-2-17 800,000 980,000 family home?
a. P 8M c. P 19M
Other information: b. P 12M d. P 10M
a. The gross estate of the decedent, P3M
b. The car was mortgaged for P50,000 when it was 71. The following statements are correct regarding
acquired and The Pok paid the same before he standard deduction, except:
died. a. A deduction in the amount of P 5M shall be
c. The allowable deductions totaled P125,000, allowed as additional deduction without need of
which includes medical expenses of P 30,000. It substantiation.
excludes bequest to a charitable institution in the b. The full amount of P 5M shall be allowed as
amount of P 50,000. deduction for the benefit of the decedent.
c. Standard deduction is a deduction from the
The vanishing deduction is: conjugal or community properties of married
a. P 581,000 c. P 648,783 decedents.
b. P 571,000 d. P 637,617 d. Standard deduction is allowed to decedent who
are non-resident aliens.
65. Which of the following is not deductible from the
gross estate of the decedent? 72. Which of the following is not correct?
I. Income taxes on income received after death. a. When a compulsory heir is given by will less
II. Property taxes not accrued before death. than his legitime, the provisions of the will
III. Estate tax should be modified in such a way that he will
receive his legitime.
a. I and II only c. All of the above b. The CIR may examine the bank deposit of a
b. II and III only d. None of the above decedent for the purpose of determining his
gross estate even if the estate did not request for
67. Which of the following statements is incorrect in a compromise on the ground of financial
connection with family home deduction? incapacity.
a. Family home deduction shall be allowed only if c. The medical expenses are allowable deduction
such family home is situated in the Philippines. in computing the net estate of the decedent.
b. The total value of the family home must be d. The sharing of heirs in testamentary succession
included as part of the gross estate of the must satisfy the rules on legitime.
decedent.
c. For purposes of availing family home deduction, 73. All of the following, except one, are not deductible
a person may constitute only one family home. from the gross estate of a non – resident alien:
d. Family home deduction may not be lower than P a. Expenses, losses, indebtedness and taxes
10,000,000. b. Death benefits under RA 4917
c. Family home allowance
68. Statement 1: For estate tax purposes, several family d. None of the choices
homes may be deducted, provided that the maximum
amount is P 10,000,000. 74. One of the following cannot be claimed as deduction
from the gross estate of a non-resident alien decedent:
 a. Vanishing deduction
b. Medical expenses 80. Based on the preceding number, the taxable net
c. Share of the surviving spouse estate if he is a resident citizen decedent, is
d. Transfer for public use _______________?

75. In computing estate tax, which of the following shall 83. Mrs. Nathy Gok died on March 20, 2018 leaving a
be allowed tax credit for taxes paid abroad? gross estate of P 12M including the land inherited from
a. Resident alien decedent his uncle on October 15, 2014 and a car donated to him
b. Non-resident alien decedent on April 20, 2012. The following data pertain to the two
c. Resident citizen decedent properties.
d. Non-resident decedent Unpaid FMV upon FMV upon
Mortgage receipt death
Next two (2) questions are based on the following: Land P 100,000 P 1,800,000 P 1,250,000
Car 50,000 300,000 400,000
A decedent left the following:
Philippines USA The decedent was able to pay ½ of the unpaid mortgage
Gross estate P 3,000,000 P 3,400,000 on the land before his death. The deductions are:
Allowable deductions 1,700,000 2,300,000
(inclusive of estate tax paid)  Expenses, losses, indebtedness, taxes (excluding
Estate tax paid 100,000 the unpaid mortgages above but including
actual funeral expenses of P 300,000 and medical
76. How much is the estate tax payable in the Philippines expenses of P 600,000), P 1.2M
assuming the decedent is a non-resident citizen?  Standard deduction, P5M
a. P 190,000 c. P 98,800  Transfer to Government, included above, P
b. P 90,000 d. P 79,000 300,000
 Family home, included above 2,000,000.
77. How much is the estate tax payable in the Philippines
assuming the decedent is a non-resident citizen? The allowable vanishing deduction is ___________?
a. P 190,000 c. P 168,000
b. P 90,000 d. P 98,800 84. The taxable net estate based on the preceding
number ___________?
78. Mr. Bamboo, Filipino died on April 10, 2018 with the
following data: 85. Mr. Nakalimot Huminga, head of the family died on
Gross Estate Deductions Estate Tax Paid January 15, 2018, leaving the following properties and
Phils. P 1,375,000 P 1,075,000 - obligations:
China 300,000 150,000 P 3,750
Japan 450,000 525,000 - Cash in bank, 50%, donated mortis causa to Nat’l Govt;
USA 600,000 225,000 P 18,000 50% to QC Govt., P 300,000
House and lot in Makati, family home, P 1.5M
The estate tax payable in the Philippines is Personal properties, P 2.5M;
a. P 13,500 c. P 14,000 Farm lot, P 4M;
b. P 9,000 d. P 13,250 Claim against an insolvent debtor, P 225,000
Transfer in contemplation of death (gratuitous), P 1.5M
79. Jahaya, non-resident Japanese, died leaving the Transfer passing under general power of appointment, P
following: 75,000

Exclusive properties, Philippines P 15,600,000 Deductions claimed:

Conjugal properties, Philippines
Conjugal properties, abroad
Unpaid expenses
Losses, occurring 3 mos. after death
due to fire
Donation mortis causa to
Makati City Hall
Family home (included above, located
abroad)
Standard deduction
4,200,000
1,820,000 Funeral expenses, P 575,000
3,510,000 Judicial expenses, 67,500
Donation mortis causa to QC govt., 150,000
1,200,000 Unpaid mortgage on the farm lot, 75,000
Medical expenses, 225,000
1,800,000
The farm lot was inherited 5 1/2 years ago by the
10,000,000 decedent before his death with a value then of P 3M and
5,000,000 a mortgage indebtedness of 150,000.

The taxable net estate is ____________________? The taxable net estate is ___________________?
 d. None of the choices.
87. Lolo Sot died leaving a gross estate amounting to P
150,000 only. No estate tax is due based on the tax code. 94. A died leaving a house and lot to B on March 31,
The gross estate is composed of a second hand car worth 2018 which was questioned by C and it is under
P 80,000, shares of stocks valued at P 50,000 and P litigation, but subsequently, the parties executed an
20,000-time deposit. The administrator believes that only extra – judicial settlement. The last day for filing the
notice of death should be filed since the value of the estate tax return is: ___________________?
gross estate is exempt from tax. What will you tell him?
a. Estate Tax Return has to be filed because the 95. The last day for payment of estate tax may be
gross estate, though below P 5,000,000, is extended until ___________?
consists of registered or registrable properties.
b. Notice of death is required to file because the
gross estate is below P 5,000,000.
c. Notice of death and estate tax return have to be
filed because the gross estate comprises of
registered or registrable properties.
d. None of the choices.

88. Who of the following shall file the Estate tax Return?
a. Executor c. Administrator
b. Any of the legal heirs d, Any of them

90. In case of a resident decedent, the administrator or

executor shall register the estate of the decedent and
secure new TIN from the
a. Office of the Commissioner.
b. RDO where the administrator or executor is
registered.
c. RDO where the decedent was domiciled at the
time of his death.
d. Duly authorized treasurer of the city or
municipality where the decedent is domiciled at
the time of his death.

91. Can the estate tax be paid in installment?

a. Yes, in case the available cash of the estate is not
sufficient to pay its estate tax liability.
b. Yes, at the option of the heirs with
corresponding interest charges.
c. No, tax is the lifeblood of the State, hence
collection cannot be delayed under any
circumstances.
d. None of the above.

92. 1st statement: The court may authorize the executor

or administrator to distribute the estate if in its sound
discretion it believes that the heir badly needs the share.
2nd statement: The administrator or any of the heirs
may however, upon authorization of BIR withdraw from
the decedent bank up to P 50,000 even without the
required certification that the estate tax has been paid.
a. True, true c. True, false
b. False, false d. False, true

93. In filing the estate tax return, a CPA certificate is

required when:
a. Gross estate exceeds P 5,000,000.
b. Gross estate reaches P 5,000,000.
c. Gross estate does not exceed P 5,000,000.