Question 1

Any transferable interest in an object of ownership may become trust property.

Accepted Answer

A) True 
 B)False

Question 2

The monetary gain that is generated from the principal of a trust

Accepted Answer

A)  legal title 
B)  cestui que trust 
C)  equitable title 
D)  testamentary trust 
E)  trust agreement
F) principal
G) income
H) Restatement of the American Law of Trusts
I) Uniform Trust Code
J) parol evidence 
A)  legal title 
B)  cestui que trust 
C)  equitable title 
D)  testamentary trust 
E)  trust agreement
F) principal
G) income
H) Restatement of the American Law of Trusts
I) Uniform Trust Code
J) parol evidence

Question 3

Which judicial remedy can a beneficiary use to be compensated monetarily either directly or through the trust)for a trustee's breach of trust?

Accepted Answer

A) Civil lawsuit to compel the trustee to reimburse the trust for any loss or depreciation in value of the trust property 
B) Removal of the trustee and appointment of a new trustee 
C) An injunction to compel the trustee to do or refrain from doing the act that would constitute the breach of trust 
D) Suing for specific performance 
A) Civil lawsuit to compel the trustee to reimburse the trust for any loss or depreciation in value of the trust property 
B) Removal of the trustee and appointment of a new trustee 
C) An injunction to compel the trustee to do or refrain from doing the act that would constitute the breach of trust 
D) Suing for specific performance

Question 4

The person who has the enjoyment and benefit of trust property

Accepted Answer

A)  legal title 
B)  cestui que trust 
C)  equitable title 
D)  testamentary trust 
E)  trust agreement
F) principal
G) income
H) Restatement of the American Law of Trusts
I) Uniform Trust Code
J) parol evidence 
A)  legal title 
B)  cestui que trust 
C)  equitable title 
D)  testamentary trust 
E)  trust agreement
F) principal
G) income
H) Restatement of the American Law of Trusts
I) Uniform Trust Code
J) parol evidence

Question 5

A trust included in a will

Accepted Answer

A)  legal title 
B)  cestui que trust 
C)  equitable title 
D)  testamentary trust 
E)  trust agreement
F) principal
G) income
H) Restatement of the American Law of Trusts
I) Uniform Trust Code
J) parol evidence 
A)  legal title 
B)  cestui que trust 
C)  equitable title 
D)  testamentary trust 
E)  trust agreement
F) principal
G) income
H) Restatement of the American Law of Trusts
I) Uniform Trust Code
J) parol evidence

Question 6

The court may appoint or replace a trustee in all of the following circumstances EXCEPT:

Accepted Answer

A) The named trustee is also a co-beneficiary. 
B) The named trustee declines the position. 
C) The trustee dies. 
D) The trustee is incompetent. 
A) The named trustee is also a co-beneficiary. 
B) The named trustee declines the position. 
C) The trustee dies. 
D) The trustee is incompetent.

Question 7

Which is NOT a trustee's duty?

Accepted Answer

A) Duty to prevent the investment of the trust property 
B) Duty of performance and due care 
C) Duty to make payments of income and principal to the named beneficiaries 
D) Duty to account 
A) Duty to prevent the investment of the trust property 
B) Duty of performance and due care 
C) Duty to make payments of income and principal to the named beneficiaries 
D) Duty to account

Question 8

The trustee in the trust instrument is granted the power to do all of the following EXCEPT:

Accepted Answer

A) Delegate the performance of personal duties 
B) Hire attorneys and stockbrokers 
C) Subdivide or exchange real property 
D) Lend or borrow money 
A) Delegate the performance of personal duties 
B) Hire attorneys and stockbrokers 
C) Subdivide or exchange real property 
D) Lend or borrow money

Question 9

A single trust may have only one beneficiary.

Accepted Answer

A) True 
 B)False

Question 10

The trust instrument must either specifically describe the trust property or clearly define the procedure to be followed in identifying the trust property.

Accepted Answer

A) True 
 B)False

Any transferable interest in an object of ownership may become trust property.

The monetary gain that is generated from the principal of a trust

Which judicial remedy can a beneficiary use to be compensated monetarily either directly or through the trust)for a trustee's breach of trust?

The person who has the enjoyment and benefit of trust property

A trust included in a will

The court may appoint or replace a trustee in all of the following circumstances EXCEPT:

Which is NOT a trustee's duty?

The trustee in the trust instrument is granted the power to do all of the following EXCEPT:

A single trust may have only one beneficiary.

The trust instrument must either specifically describe the trust property or clearly define the procedure to be followed in identifying the trust property.

The Estate Plan and the Purpose and Need for a Will

The Concept of Property Related to Wills,trusts,and Estate Administration

The Participants and the Proper Court

The Law of Succession: Death Testate or Intestate

Wills Validity Requirements, modification, revocation, and Contests

Preparation to Draft a Will Checklists and the Conference With the Client

Final Draft and Execution of a Valid Will

Classification of Trusts, the Living Trust, and Other Special Trusts

Estate Planning

Long-Term Care

Personal Representatives: Types, pre-Probate Duties, and Appointment

Probate and Estate Administration

Informal Probate Administration

Tax Considerations in the Administration of Estates

Ethical Principles Relevant to Practicing Paralegals and Legal Assistants

Filters

Exam 8: Introduction to Trusts

Any transferable interest in an object of ownership may become trust property.

The monetary gain that is generated from the principal of a trust

Which judicial remedy can a beneficiary use to be compensated monetarily either directly or through the trust)for a trustee's breach of trust?

The person who has the enjoyment and benefit of trust property

A trust included in a will

The court may appoint or replace a trustee in all of the following circumstances EXCEPT:

Which is NOT a trustee's duty?

The trustee in the trust instrument is granted the power to do all of the following EXCEPT:

A single trust may have only one beneficiary.

The trust instrument must either specifically describe the trust property or clearly define the procedure to be followed in identifying the trust property.

The Estate Plan and the Purpose and Need for a Will

The Concept of Property Related to Wills,trusts,and Estate Administration

The Participants and the Proper Court

The Law of Succession: Death Testate or Intestate

Wills Validity Requirements, modification, revocation, and Contests

Preparation to Draft a Will Checklists and the Conference With the Client

Final Draft and Execution of a Valid Will

Classification of Trusts, the Living Trust, and Other Special Trusts

Estate Planning

Long-Term Care

Personal Representatives: Types, pre-Probate Duties, and Appointment

Probate and Estate Administration

Informal Probate Administration

Tax Considerations in the Administration of Estates

Ethical Principles Relevant to Practicing Paralegals and Legal Assistants

Filters