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

Related Articles
  1. Retirement

    4 Estate Planning Documents You Need to Have

    Here's the lowdown on the four essential legal documents you need—right now—to have in place before you die.
  2. Managing Wealth

    Three Documents You Shouldn't Do Without

    Estate planning is not just about the division of assets after you die. Read on to save your loved ones extra grief.
  3. Retirement

    Healthcare Documents You Need In Place Right Now

    If you become incapacitated, here are some documents that should be in place to say who is authorized to speak on your behalf.
  4. Retirement

    Don't Give Away Control Over Your Assets Without Planning

    Most people don't realize what they agreed to when they signed a power of attorney, and are blissfully unaware of the possible harm from poor planning.
  5. Financial Advisor

    6 Proven Tips For Series 6 Success

    These techniques can help you pass this test without the added stress.
  6. Investing

    What is a Representative Sample?

    In statistics, a representative sample accurately represents the make-up of various subgroups in an entire data pool.
Frequently Asked Questions
  1. How do you calculate r-squared in Excel?

    Calculate R-squared in Microsoft Excel by creating two data ranges to correlate. Use the Correlation formula to correlate ...
  2. What is the Difference Between International Monetary Fund and the World Bank?

    Learn about the International Monetary Fund and the World Bank and how they are differentiated by their respective functions ...
  3. Where Did the Bull and Bear Market Get Their Names?

    The terms bull and bear are used to describe general actions and attitudes, or sentiment, either of an individual (bear and ...
  4. What's the difference between Google's GOOG and GOOGL stock tickers?

    Learn the difference between Google's GOOG and GOOGL ticker symbols. Splitting shares into classes prevents management from ...
Trading Center