Exam (elaborations)
Tax3703 Assignment 1 Semester 2 2024 Whastapp 0 6 4 5 1 6 7 2 7 5
- Course
- Taxation of Estates
- Institution
- University Of South Africa (Unisa)
Tax3703 Assignment 1 Semester 2 2024 Whastapp 0 6 4 5 1 6 7 2 7 5
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8/27/24, 1:09 PM Assessment 1: Attempt reviewTAX3703-24-S2 Assessment 1
QUIZ
Started on Tuesday, 27 August 2024, 12:42 PM
State Finished
Completed on Tuesday, 27 August 2024, 1:09 PM
Time taken 27 mins 4 secs
Marks 33.00/35.00
Grade 95.57 out of 100.00
Question 1 WhatsApp 064 516 7275
Incorrect WhatsApp 064 516 7275
Mark 0.00 out of 1.00 WhatsApp 064 516 7275
KK had a valid will which was drafted by his attorney. In this will he indicated his
three children, PK, SK and ZK, to be his sole heirs. PK was to receive 45% of the
estate, ZK 25% and SK 30%. PK was also nominated as the executor in his father’s
estate.
The will was signed by three witnesses; PK, who was at the attorney’s o ce with his
father, as well as by two of the attorney’s article clerks.
What portion of KK's estate will PK inherit when his father dies?
a. 55%
b. 45%
c. Nothing
d. One third
Question 2
Correct
Mark 1.00 out of 1.00
A Will is a formal legal document which sets out in writing what will happen to the
testator’s property upon death. Which one of the following is not one of the
advantages of having a Will?
a. By making a Will, the testator can indicate who should get what from
his/her estate and in what proportions.
b. A testator can prevent his/her children from getting married by
incorporating such a condition in his/her Will.
c. A testator can include provisions to reduce estate duty in a Will.
d. A testator can make nancial provision for his/her heirs and minor children
in a Will.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=21451418&cmid=847079 1/13
,8/27/24, 1:09 PM Assessment 1: Attempt review
Question 3
Correct
Mark 1.00 out of 1.00
X died when her husband, P, negligently shot her whilst being under the in uence of
alcohol. In her will she stipulated that her estate should be divided equally between
P (to whom she was married out of community of property), S, their daughter and L,
her illegitimate son. Indicate what amount P will inherit if X’s distributable estate
amounts to R12 000 000.
a. R9 000 000
b. R6 000 000
c. R4 000 000
d. Rnil
Question 4
Correct
Mark 1.00 out of 1.00
Which one of the following is not a usual method of liquidation of assets in a
solvent estate?
a.
Partial disposal of assets
b.
Takeover of assets by the Master
c.
Total disposal of assets
d. Awards of assets in specie
Question 5
Correct
Mark 1.00 out of 1.00
Who is the person appointed by the Master of the High Court to take control of the
administration of a deceased estate?
a. Trustee
b. Bene ciary
c. Attorney
d. Executor
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=21451418&cmid=847079 2/13
,8/27/24, 1:09 PM Assessment 1: Attempt review
Question 6
Correct
Mark 1.00 out of 1.00
The laws of intestate succession applies when?
a. All of the above.
b. Someone dies without a will.
c. Someone dies with a will but the will does not make provision for certain
parts of his/her estate.
d. Someone dies with a will but the entire will has been declared invalid.
Question 7
Correct
Mark 1.00 out of 1.00
At the date of their marriage (out of community of property with the accrual system
applying), neither Khosi nor Keneilwe declared any assets. On their way to their
honeymoon destination, they were involved in a tragic accident in which Khosi died.
The executor of his estate found assets worth
R2 000 000 in Khosi’s estate. Which one of the following amounts represents
Keneilwe’s accrual claim against Khosi’s estate if we assume that she had assets
worth R500 000 when Khosi died?
a. R1 500 000
b. R500 000
c. R750 000
d. Rnil
Question 8
Correct
Mark 1.00 out of 1.00
Mrs Z’s will states that her husband must inherit a at in Pretoria and her son R1
000 000 in cash. The residue of her estate is to go to her three grandchildren from
a predeceased daughter in equal parts. When she died in December last year, the
executor found that her distributable estate consisted of R975 000 cash only.
Which one of the following amounts will her son inherit?
a. R1 000 000
b. R975 000
c. R500 000
d. Rnil
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=21451418&cmid=847079 3/13
, 8/27/24, 1:09 PM Assessment 1: Attempt review
Question 9
Correct
Mark 1.00 out of 1.00
In South Africa, there are three marital regimes, namely
a. Marriages in community of property, customary unions and marriages out
of community of property.
b. None of the options.
c. Marriages in community of property, marriages out of community of
property including accrual and marriages out of community of property
excluding accrual.
d. Marriages in community of property, same sex unions and civil unions.
Question 10
Correct
Mark 1.00 out of 1.00
At the commencement of their marriage (out of community of property with the
accrual system applying), neither Bongi nor Bontle declared any assets. On their
way back from their honeymoon, they were involved in a tragic accident in which
Bontle died. The executor of Bontle’s estate found assets worth R750 000 in her
estate. Which one of the following amounts represents Bongi’s accrual claim
against Bontle’s estate if we assume that he had no assets?
a. Rnil
b. R375 000
c. R750 000
d. R250 000
Question 11
Correct
Mark 1.00 out of 1.00
The person appointed by the Master of the High Court to administer a deceased
estate is known as the:
a. Bene ciary
b. Trustee
c. Executor
d. Agent
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=21451418&cmid=847079 4/13
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