Is daughter subject to CAT for family home?

If a daughter inherits her parent's home, is she exempt from Capital Acquisitions Tax (CAT) when they die if the house value is less than €434k?
To qualify for this CAT exemption(€434k) does she need to have been living with the parents in the house?
All inputs are appreciated.

If a daughter inherits her parent's home, is she exempt from Capital Acquisitions Tax (CAT) when they die if the house value is less than €434k?

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Yes, assuming there were no other gifts during her lifetime from her parents apart from the annual exemption gift of 3,000

To qualify for this CAT exemption(€434k) does she need to have been living with the parents in the house?

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No

Remember the budget may change this threshold! It decreased hugely earlier this year by 100k.

To asdfg: Thanks a million for your clear feedback. Much appreciated.
To Vanilla: Thanks very much also for that input, I suppose everyone needs to expect a big hit in the next government budgets. The lady in question's dad is still alive and therfore your thoughts are very relevant.