Which of the following does not terminate a trust?
A) Death of the beneficiary
B) The trustee acquires both equitable and legal title to the trust corpus
C) Occurrence of a date established in the trust instrument
D) Fulfillment of the trust purpose
A
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Ewa is a current employee of Financial Accounting, Inc. Gomer, a former Financial employee who is currently unemployed, collects unemployment compensation. This is provided by a tax on
A. Ewa and Gomer only. B. Ewa, Financial, and Gomer. C. Financial only. D. none of these parties.
Agreements not to compete are always void
Indicate whether the statement is true or false
Which of the following is false regarding the incontestable clause?
A) Applies to misstatement of age B) Does not restrict suits challenging accidental death benefits C) Eliminates suits by the insurer if a more hazardous occupation is discovered by the insurer three years after the policy has been in force D) Was voluntarily added to policies by some insurers
When creating a new business, the first step is to
A) write a business case or plan. B) acquire financing needed to make the business successful. C) investigate all existing opportunities. D) identify a consumer or business need that is not presently being met.