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Free HS330 Exam Braindumps (page: 54)

Page 53 of 101
PDF with 400 Questions

Which of the following statements concerning pooled-income funds is (are) correct?
1. A pooled income fund is similar to a mutual fund maintained by a qualified charity.
2. It is an irrevocable arrangement in which the remainder interest passes to charity.

  1. Both 1 and 2
  2. 2 only
  3. Neither 1 nor 2
  4. 1 only

Answer(s): A



Which of the following areas of consideration present common ethical issues for the estate planner?

  1. Consistency
  2. Compatibility
  3. Compensation
  4. Contracts

Answer(s): C



A married man died intestate. In addition to his wife, he was survived by two minor children and both his parents. Which of the following statements describes the typical intestate distribution in this situation?

  1. The widow receives at least one-third of the estate and the children divide the remainder of the estate equally.
  2. The widow receives one-third of the estate and the remainder is divided equally among the two children and the parents of the decedent.
  3. The widow receives half the estate and the remaining half is divided equally between the decedent's parents.
  4. The widow receives the entire probate estate as trustee for the benefit of the two minor children.

Answer(s): A



Having a will enables an individual to do which of the following?
1. Make testamentary bequests to selected charitable organizations
2. Make specific bequests to selected friends

  1. 1 only
  2. Neither 1 nor 2
  3. 2 only
  4. Both 1 and 2

Answer(s): D






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