Tony owned the following property at the time of his death. (1) $500,000 Personal residence titled in fee simple in Tony’s name. (2) $500,000 life insurance policy on Tony’s life. Primary beneficiary is Tony’s brother, Pepe (died 2 years before Tony), contingent beneficiary is “My Estate”. (3) $17,000 car titled JTWROS with Tony’s sister, Gia, who survived him. (4) $400,000 IRA, Primary beneficiary: Gia, survives. What is the value of Tony’s probate estate? (Assume he was not married on his date of death.)

Even if a life insurance policy is held in a trust, the death proceeds are included in the decedent’s gross estate if the insured retained the ability to change beneficiaries.

Luis created a joint bank account for himself and his friend, Amy.  At what point has a gift been made to Amy?

Which of the following statements concerning the administration of an estate is (are) correct? (1) Some matters, such as funeral arrangements and emergency actions to preserve estate assets, will typically take place before an executor or administrator is appointed. (2) Even though the executor is named in the Will, formal court appointment of the executor is generally required before they will receive letters testamentary. (3) In Texas, the court appoints an administrator instead of an executor if the decedent died intestate.

Trey, while still alive, transferred securities valued at $25,000,000 early in 2023 to his favorite grandson, Jake.  Assume that Trey’s son and Jake’s dad, Rob, is still living at the time of such transfer. Which of the following statements is (are) true concerning the taxation of this transfer?  (1) The transfer is subject to the generation-skipping transfer tax. (2) The transfer is subject to the federal gift tax.

Label each of the following changes as:  i) a synonymous mutation, ii) a non-synonymous substitution, iii) a stop-loss mutation, iv) a nonsense (stop-gain) mutation. (A genetic code table is below).   A) UGA –> UCA [A]  B) UAC –> UAA [B]  C) AGA –> AAA [C]  D) AGA –> CGA [D]   

DM 3 You are determined to find the D&M gene.  The markers above allow you to localize the D&M gene to a small region of chromosome 7.  How would you now proceed to identify the D&M gene and verify that variants within the D&M gene are responsible for the disease? 

I am aware of the electronic monitoring process: I will have to have a camera, and show my id and scan the room.  Additionally, I am aware that I will only have one chance to answer each question in the order they appear, and that I will not be able to go back and review questions a second time. Good luck and don’t forget to download the study material (:

In an siRNA knockdown experiment described in the lecture, the siRNA knockdown of Per1 led to a change in expression of target kidney genes.  In that experiment, why was the scramble siRNA an important control?

Some members of the Baby Boomer Generation are struggling financially because: