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IRS Special Enrollment Examination (SEE) for Enrolled Agents

6. Specialized returns for individuals: practice questions

Our Enrolled Agent (SEE) bank has 38 questions on this topic. Here are 5 of them with answers; the full mock exam draws from every topic, like the real one.

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Question 1

The non-willful FBAR penalty is assessed by:

  1. The Social Security Administration
  2. The IRS, under authority delegated by FinCEN
  3. The Department of Justice only, through a civil suit
  4. Each state
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B. The IRS, under authority delegated by FinCEN — FinCEN delegated FBAR enforcement to the IRS, which assesses civil FBAR penalties for non-willful and willful violations.

Question 2

An unmarried U.S. citizen living abroad who meets the foreign residence tests files Form 8938 if foreign assets are more than:

  1. $50,000 at year end or $75,000 at any time
  2. $400,000 at year end or $600,000 at any time
  3. $200,000 at year end or $300,000 at any time
  4. $100,000 at year end or $150,000 at any time
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C. $200,000 at year end or $300,000 at any time — Higher thresholds apply to taxpayers living abroad: $200,000/$300,000 if unmarried and $400,000/$600,000 if filing jointly.

Question 3

The maximum federal estate tax rate for 2025 is:

  1. 40%
  2. 45%
  3. 35%
  4. 37%
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A. 40% — The top estate, gift and GST tax rate is 40%.

Question 4

Which asset is reported on Form 8938 but NOT on the FBAR?

  1. A foreign brokerage account
  2. A foreign bank checking account
  3. Stock of a foreign company held directly, not in an account
  4. A foreign mutual fund held in a foreign brokerage account
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C. Stock of a foreign company held directly, not in an account — Form 8938 covers specified foreign financial assets including directly held foreign stock. The FBAR covers only financial accounts.

Question 5

Which is a deduction from the gross estate?

  1. Gifts made in the year of death
  2. The decedent's life insurance proceeds
  3. Income tax refunds due the decedent
  4. Funeral expenses paid by the estate
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D. Funeral expenses paid by the estate — Deductions include funeral and administration expenses, debts, mortgages, the marital deduction and the charitable deduction.

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