Part 3 of the EA exams.

Well,

for one.

But aren't you using a commercial study course, which is usually self-contained?

Would it be permissible to turn this into a general EA exam discussion? I searched for other threads regarding the exam and I didn't immediately see any discussion which was posted within the last few years. Also, I've been studying previous tests for some time and I have some questions about some questions which were used in prior tests which apparently had something wrong and had no answer identified as correct. I've been reading publications and other material for some time but I would still like to have the verification and reassurance from professionals that the assumptions which I'm making are actually correct.

To start things off, here's a question that I can't resolve:

An estate has distributable net income of $12,000 consisting of $6,000 in rents, $4,000 in dividends, and $2,000 in taxable interest. Rob and his three sisters are equal beneficiaries of this, their father?s estate. A stipulation allocates dividends first to Rob. The personal representative distributed the income under the provisions of the will. In what amount and what character is the distribution to Rob?

A. 0 rent, 4000 dividend, 0 taxable interest B. 0 rent, 3000 dividend, 0 taxable interest C. 1500 rent, 1000 dividend, 500 taxable interest D. 1000 rent, 1000 dividend, 1000 taxable interest

Based on page 21 of 2008 P559 I would think the answer is (B) of $3000 dividend, as I don't think the separate shares rule mentioned on page

18 thereof is invoked because the amount of dividends exceeds the amount of income which is his share.

I hope this is acceptable because I have many more questions to come which I would love to have resolved.

Thanks.

It sounds like you feel that you can argue that one of the other answers may be correct. I'm curious what that argument could be? "B" seems like the only possibility to me.