CFP

AAA

Documentation - Sample Questions 1 - 4

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


Answer Key
comments powered by Disqus
Related Articles
  1. Six Things Bad Financial Advisors Do
    Investing Basics

    Six Things Bad Financial Advisors Do

  2. Fee-Only Financial Advisers: What You ...
    Investing Basics

    Fee-Only Financial Advisers: What You ...

  3. It Is Not Too Late To Hedge Against ...
    Stock Analysis

    It Is Not Too Late To Hedge Against ...

  4. Another Sound Lesson In Risk Management
    Investing News

    Another Sound Lesson In Risk Management

  5. 10 Characteristics of Successful Entrepreneurs
    Entrepreneurship

    10 Characteristics of Successful Entrepreneurs

Trading Center