1. Which of the following are requirements of a valid will?
I. Must be at least 18 years of age
II. Must list at least one executor
III. Must be of sound mind
IV. Must be signed and dated
A) I and IV only
B) III and IV only
C) I, II and III only
D) All of the above
2. Premarital agreements must include all of the following to be enforceable EXCEPT:
A) Written form
B) Executed by an attorney
C) Must be willingly and knowingly signed by both parties
D) Accurately list each person's net worth
3. All of the following are recognized types of wills EXCEPT:
A) Revocable spousal will
B) Pour-over will
C) Testamentary will
D) Holographic will 4. John noticed that his elderly mother (Ruth) was forgetting to pay the bills and deposit checks into her bank account due to her deteriorating health issues. In order to help her with all of her financial activities while she is still alive and in the event of incapacitation, they signed some directive documents. What document would be most appropriate?
A) General power of attorney
B) Springing power of attorney
C) Durable general power of attorney
D) Special power of attorney
Managing WealthEstate planning is not just about the division of assets after you die. Read on to save your loved ones extra grief.
InvestingAn interest-bearing account that pays a higher interest rate than a savings account and gives the account holder limited check-writing ability.
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Financial AdvisorThese techniques can help you pass this test without the added stress.
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