Discuss NACVA CVA Exam Topic 4 Question 22

Any Buy-Sell agreement, restrictions, or other similar factor relating to the right to use or sell the property will be ignored for estate gift, and generation skipping tax purposes unless the agreement meets any of the following test EXCLUDING:

AIt is a bona fide business arrangement

BIt must be a device to transfer the property to the natural objects of the transferor's bounty (such as family members) for less than adequate and full consideration in money or money's worth

CIts terms must be comparable to similar arrangements entered into by persons in an arm's length transaction

DIt is a key player in Buy-Sell arrangements

Suggested Answer: D

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14 comments · newest first

Iluminada 12 months ago

I thought all agreements would matter for tax purposes, this is surprising!

Lisha 1 year ago

B is definitely the most important factor here.

Delsie 1 year ago

Wait, what does "key player" even mean in this context?

Hubert 1 year ago

Totally agree, D doesn't fit the criteria at all.

Xuan 1 year ago

A bona fide business arrangement is crucial.

Viola 1 year ago

I’m a bit confused about the terms of arm's length transactions. Does that mean they have to be fair market value?

Josephine 1 year ago

I feel like I’ve seen a question similar to this before, and I think the focus was on the bona fide business arrangement.

Carlene 1 year ago

I think option D might be the one that doesn't fit because it sounds more like a description rather than a requirement.

Bernardo 1 year ago

I remember something about Buy-Sell agreements needing to be legitimate to avoid tax issues, but I'm not sure which option is the odd one out here.

Sabra 1 year ago

I'm pretty confident that the answer is A - who is responsible for ensuring all activities at a given level are performed successfully. The capability maturity model is all about defining roles and responsibilities, right?

Gilma 1 year ago

Okay, let's see. Deployment, data, and runtime views seem like the most essential ones to cover. I'll make sure to select those.

Maryln 1 year ago

Okay, I've got a strategy. I think the HTTP profile with 'SSL Offload' disabled is the way to go here to allow the images to load properly.

Goldie 1 year ago

This is a good test of my scrum knowledge. I'm confident I can identify the answers that best reflect the scrum principles.

Peter 1 year ago

I remember we talked about reinforcer inventories in class, but I'm not entirely sure if they're the best option.

NACVA CVA Exam - Topic 4 Question 22 Discussion