Exam 19: Investment; Management and Delegation

Hudson and Blanche are the trustees of a discretionary trust in favour of the employees of New Hudson Enterprise Ltd. They are seeking to lawfully delegate some their trustee functions to other, more experienced persons and so free up their own time to go on ocean cruise holidays. Which of the following functions may Hudson and Blanche not delegate under the general delegation powers in the Trustee Act 2000?

Which of the following (more than one applies) are where you would expect to find the powers of trustees to deal with trust property?

Which of the following statements is false?

Bea and Cee are trustees of a family trust including a number of commercial properties and a share portfolio. They are familiar with managing the commercial properties, but wish to delegate the task of managing the share portfolio. They have identified Dee and Associates Ltd, an experienced asset management company, which they wish to appoint for this purpose. Which of the following requirements does not apply?

Martin is the trustee of a family trust, over which he has powers of investment. The trust includes shares in a variety of companies and cash assets. The trust directs Martin to hold the property on trust for Wendy for life, and on Wendy's death for the Royal Society for the Protection of Birds. Advise Martin as to which of the following statements are a false statement of his powers in relation the trust property:

Lucky and Sam are the trustees of a collection of paintings acquired by Joe during his career as the proprietor of an art gallery. They have no special expertise. They decide to sell some of the paintings and employ Michael's Gallery Ltd to sell the paintings at auction. One of the artworks is acquired for £500 by Philip Mould, who, after extensive research, proves that it is by Lucian Freud and is worth over £1million. Which of the following statements is most likely to be true?

Which of the following statements most accurately explains the general powers of investment conferred upon trustees of a trust? (Think carefully before selecting an answer).

Martin is the trustee of a family trust, over which he has powers of investment. The trust includes shares in a variety of companies and cash assets. The trust directs Martin to hold the property on trust for Wendy for life, and on Wendy's death for the Royal Society for the Protection of Birds. Advise Martin as to which one of the following statements most accurately describes his obligations in making investment decisions

Which of the following statements is most accurate?

Which of the following statements is most accurate?

Which of the following is the most accurate statement?