1. After you've completed a detailed projection of your living expenses requirements atretirement, you must APPLY an expense factor to account for
A. uncertainty. C. mortality.
B. investment results. D. inflation.
2. You're 95 years old and under the care of a trusted grandson.You decide that you want togive all your assets away to your relatives to avoid having a will and trust so that there willbe little in your estate to probate. A significant flaw of such a plan is
A. you don't know how to divide it up C. gift taxes
B. state law requirements to have a witness D. inheritance
3. Which of the following is true?
A. A will can never be revoked.
B. A will doesn't need to be in WRITING or have a witness.
C. The testator of the will is also the executor.
D. An order to change a will is a codicil.
4. A provision that will determine what type of health care you receive in a terminal illness is
A. a LIVING WILL . C. POWER OF ATTORNEY .
B. joint tenancy. D. a LIVING TRUST .
5. You aren't married. Which form of property ownership can't exist in your estate?
A. Joint tenancy with right of survivorship C. Single ownership
B. Tenancy by the entirety D. Beneficial ownership in trust