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Since announcing they'd soon be parents, Giuliana and Bill Rancic can't help but contain their baby joy. "It's been a really exciting time for us," Bill, 40, tells Us Weekly. "To be able to share the news has been spectacular!"

As they wait for their new bundle of joy to arrive via gestational surrogate later this summer, the couple have already decided which of their spouse's qualities they'd like to see passed on to Baby Rancic. "Bill's incredibly nurturing. He's the one who took charge of my health," breast cancer survivor Giuliana, 37, tells Us of her husband of five years. "He's so good at being able to calm everything down. I hope my child is caring like him."

When it comes to Giuliana, Bill hopes Baby Rancic will develop her humor. "We're going to have a lot of fun with our child," Giuliana confirms. "We're going to dance and sing and laugh. You only live once. Make the most of it."

To help the Rancics get acclimated to first-time parenthood -- and find out what kind of a mom and dad they'll be -- Us Weekly asked the couple to take our Hollywood Parenting Quiz, answering questions about everything from playdates to prechewing food.