QUESTION: 145

The remainder interest is valued:

By taking the security's appraised fair market value and discounting it to a present value under the IRS actuarial tables based on seller's projected remaining life.
By self-canceling installment note
By taking the security's appraised fair market value and discounting it to a present value under the IRS actuarial tables based on seller's projected remaining life.
By sale of a private annuity

Answer(s): A

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QUESTION: 146

"Fair value" means the value of the corporation's shares determined:

Immediately after the effectuation of the corporate actions to which the shareholder objects
Using customary and current valuation concepts and techniques generally employed for similar businesses in the context of the transaction requiring appraisal
Without discounting for lack of marketability or minority status except, if appropriate, for amendments to the articles...
That the majority states use the pre-1999 definition

Answer(s): B,C

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QUESTION: 147

A major issue in many fair value cases is:

Whether or not discounts and/or premiums are applicable
Lack of control
Lack of marketability
lack of ownership control premiums under certain specific circumstances.

Answer(s): A

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The marital estate comes into being upon filing for divorce. It represents the assets that must be divided according to the property laws of the state. Currently, each state adheres to either (1) or (2) .

The community property standard, the investment value
The community property standard, the equitable distribution standard
The family property standard, the equitable standard
The standard value, the equitable distribution standard

Answer(s): B

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QUESTION: 145

QUESTION: 146

QUESTION: 147

QUESTION: 148

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