10 points:  Identify the antagonistic hormones that control blood calcium levels.  Give the effect of each and the bone cell that is stimulated to cause this effect.

8 points:  Hormones bind to receptors of target cells.  Identify the location of the receptor and the effect of hormone binding for both protein and steroid hormones.

Abba Zabba is a single taxpayer who purchased a home for $300,000.  At the time they purchased this home, they used all of their §121 gain exclusion. After living in the home for 16 months, unforeseen circumstances caused Abba Zabba to have to move across the country. Consequently, they sold this home for $600,000.  How much, if any, of their gain on the sale of this residence do they recognize in taxable income? Round all calculations to the dollar.

Lee bought a hot-air balloon 3 years ago for $6,000 cash, $34,000 loan, $1,000 legal fees, and $500 commissions. During the past 3 years, Lee depreciated the balloon $17,500. Iorek purchases the hot-air balloon from Lee by giving him armor worth $15,000 and assuming Lee’s remaining debt worth $15,000. Lee pays $2,500 towards legal fees and commissions to complete the sale. What is Lee’s recognized gain or loss on the sale?

Which of the following is true regarding the sale or exchange of an option?

Taxy O’Payer, age 56, receives an annuity distribution of $1000 per month for life from their qualified retirement plan beginning in January. Taxy’s investment in the contract is $169,260. Based upon the number of anticipated monthly annuity payments under the simplified method, how much of each annuity payment is included in Taxy’s gross income.

Which of the following processes corresponds to the electron affinity of iodine?

Which of the following electron configurations represents an excited state of the indicated atom?

6 points:  Which gland produces cortisol?  Identify 2 of its 3 effects.

8 points:  Identify the sex hormone for each sex (male and female) and the organ that produces each.