1. A legal entity in which you relinquish title and control of the assets when they are placed in the entity is called a(n)______.

a) family trust

b) irrevocable living trust

c) testamentary trust

d) revocable living trust

e) none of the above

2. Which of the following are benefits to staying married as outlined in Chapter 18 of you textbook?

a) There are more unnecessary expenditures when married.

b) Little is learned by the cooperation involved in a successful marriage

c) Divorce is expensive, really expensive

d) none of the above

e) all of the above

3. Which of the following options is best when deciding who should manage your finances?

a) let the pro develop your entire plan

b) make your own plan and have it checked

c) do them yourself

d) Cooperatively develop a plan with a professional financial planner

e) any one of the above can work depending on your level of understanding and expertise.