Question 1

A person who assumes the responsibilities of providing the children with personal care and managing the estate for them is called a(n):

Accepted Answer

A)  beneficiary. 
B)  executor. 
C)  trustee. 
D)  guardian. 
E)  executrix. 
A)  beneficiary. 
B)  executor. 
C)  trustee. 
D)  guardian. 
E)  executrix.

Question 2

A living will provides for your wishes to be followed if you become so physically or mentally disabled that you are unable to act on your own behalf.

Accepted Answer

A) True 
 B)False

Question 3

If you are married, your estate planning involves:

Accepted Answer

A)  the interest of at least two people. 
B)  fewer legal requirements. 
C)  fewer financial responsibilities. 
D)  seeking the services of a securities broker. 
E)  only yourself. 
A)  the interest of at least two people. 
B)  fewer legal requirements. 
C)  fewer financial responsibilities. 
D)  seeking the services of a securities broker. 
E)  only yourself.

Question 4

Which will is sufficient for most smaller estates?

Accepted Answer

A)  Simple 
B)  Traditional marital share 
C)  Exemption trust 
D)  Stated dollar amount 
E)  Living 
A)  Simple 
B)  Traditional marital share 
C)  Exemption trust 
D)  Stated dollar amount 
E)  Living

Question 5

Lucy Kelson has been selected to manage the assets of Rodney Peterson until he reaches the age of 30. Rodney is currently 21. In what capacity would Lucy be acting?

Accepted Answer

A)  Executrix 
B)  Trustee 
C)  Guardian 
D)  Beneficiary 
E)  Administrator 
A)  Executrix 
B)  Trustee 
C)  Guardian 
D)  Beneficiary 
E)  Administrator

Question 6

In a revocable trust, you forfeit the right to end the trust or change its terms during your lifetime.

Accepted Answer

A) True 
 B)False

Question 7

A letter of last instruction can provide your heirs with important information.

Accepted Answer

A) True 
 B)False

Question 8

The stated dollar amount will allow you to pass on to your spouse any amount that satisfies your family objectives.

Accepted Answer

A) True 
 B)False

Question 9

A beneficiary is a person who has been named to receive property.

Accepted Answer

A) True 
 B)False

Question 10

You should avoid probate because it is expensive, lengthy, and public.

Accepted Answer

A) True 
 B)False

Question 11

Estate planning is a subject most people would rather avoid: death-your own or that of your spouse.

Accepted Answer

A) True 
 B)False

A person who assumes the responsibilities of providing the children with personal care and managing the estate for them is called a(n):

A living will provides for your wishes to be followed if you become so physically or mentally disabled that you are unable to act on your own behalf.

If you are married, your estate planning involves:

Which will is sufficient for most smaller estates?

Lucy Kelson has been selected to manage the assets of Rodney Peterson until he reaches the age of 30. Rodney is currently 21. In what capacity would Lucy be acting?

In a revocable trust, you forfeit the right to end the trust or change its terms during your lifetime.

A letter of last instruction can provide your heirs with important information.

The stated dollar amount will allow you to pass on to your spouse any amount that satisfies your family objectives.

A beneficiary is a person who has been named to receive property.

You should avoid probate because it is expensive, lengthy, and public.

Estate planning is a subject most people would rather avoid: death-your own or that of your spouse.

Personal Finance Basics and the Time Value of Money

Financial Aspects of Career Planning

Money Management Strategy: Financial Statements and Budgeting

Planning Your Tax Strategy

Financial Services: Savings Plans and Payment Accounts

Introduction to Consumer Credit

Choosing a Source of Credit: The Costs of Credit Alternatives

Consumer Purchasing Strategies and Legal Protection

The Housing Decision: Factors and Finances

Property and Motor Vehicle Insurance

Health, Disability, and Long-Term Care Insurance

Life Insurance

Investing Fundamentals

Investing in Stocks

Investing in Bonds

Investing in Mutual Funds

Investing in Real Estate and Other Investment Alternatives

Starting Early: Retirement Planning

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Exam 19: Estate Planning

A person who assumes the responsibilities of providing the children with personal care and managing the estate for them is called a(n):

A living will provides for your wishes to be followed if you become so physically or mentally disabled that you are unable to act on your own behalf.

If you are married, your estate planning involves:

Which will is sufficient for most smaller estates?

Lucy Kelson has been selected to manage the assets of Rodney Peterson until he reaches the age of 30. Rodney is currently 21. In what capacity would Lucy be acting?

In a revocable trust, you forfeit the right to end the trust or change its terms during your lifetime.

A letter of last instruction can provide your heirs with important information.

The stated dollar amount will allow you to pass on to your spouse any amount that satisfies your family objectives.

A beneficiary is a person who has been named to receive property.

You should avoid probate because it is expensive, lengthy, and public.

Estate planning is a subject most people would rather avoid: death-your own or that of your spouse.

Personal Finance Basics and the Time Value of Money

Financial Aspects of Career Planning

Money Management Strategy: Financial Statements and Budgeting

Planning Your Tax Strategy

Financial Services: Savings Plans and Payment Accounts

Introduction to Consumer Credit

Choosing a Source of Credit: The Costs of Credit Alternatives

Consumer Purchasing Strategies and Legal Protection

The Housing Decision: Factors and Finances

Property and Motor Vehicle Insurance

Health, Disability, and Long-Term Care Insurance

Life Insurance

Investing Fundamentals

Investing in Stocks

Investing in Bonds

Investing in Mutual Funds

Investing in Real Estate and Other Investment Alternatives

Starting Early: Retirement Planning

Filters