6.1.2 Basic Quiz -- Mortality Tables

Mortality tables for charitable deduction calculations are updated every year.

True False

The charitable deduction mortality tables are based on figures compiled by the U.S. Census Bureau.

True False

Table 2000CM is the mortality table required for charitable deduction calculations.

True False

The mortality tables begin at age zero and end at age 110.

True False

Table 2000CM is based on a sample of one million Americans to determine survival rates.

True False

Table 2000CM is used to determine the probability of survival from one age to another.

True False

Table 2000CM is not a life expectancy table.

True False

To determine the probability of survival from one age to another, take the number of persons listed as living at the target age, subtract the subject's current age from that number, then divide the result by the number of persons living at the subject's present age.

True False

Dr. Ferrell, age 60, would like to know his probability of surviving to age 80. If Table 2000CM shows 85,537 persons living at age 60 and 47,084 of them survive to age 80, then Dr. Ferrell would simply need to divide 47,084 by 85,537 to determine his chances of surviving to age 80.

True False

The Annuity 2000 mortality table is used by the American Council on Gift Annuities to establish the suggested payout rates for charitable gift annuities.