Free Financial CFSA Exam Questions (page: 27)

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Banks provide the following personal trust service/services for the individuals:

  1. Estate settlement
  2. Co-fiduciary
  3. Agent
  4. All of these

Answer(s): D



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Some wills specify that more than one responsible party share the trustee's responsibilities of an estate .The condition depicts relation with which one of the following trust services:

  1. Guardians of estates
  2. Co-fiduciary
  3. Estate settlement
  4. Trusts

Answer(s): B



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Corporations, government entities and other organizations use banks as trustee to handle the function associated with a stock or bond issue.

  1. Issuance and redemption of stocks or bonds
  2. Transfer and record keeping of stock or bonds
  3. None of these
  4. Both of these

Answer(s): D



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A trust agreement is called:

  1. Trust paper
  2. Trust agreement document
  3. Both of these
  4. None of these

Answer(s): D



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Stock transfer agent, Bond registrar, stock registrar and dividend reinvestments agent are the additional duties of:

  1. Brokers/Brokerage houses
  2. Corporate trust departments
  3. Mutual funds agencies
  4. None of these

Answer(s): B



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