Tamarind Learning Knowledge Check

Test Your Knowledge

Curious to see how you measure up? Take this short sample quiz.

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1. The main parties to a trust include: (Required.)

A. the grantor

B. the beneficiary

C. the advisor

D. the trustee

E. A, B, and D

F. all of the above

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2. A delegated trust is a structure where a trustee is authorized to hire experts to assist with the trust's administration. (Required.)

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3. Factors that may erode a trust's corpus over time include: (Required.)

A. inflation

B. fees

C. taxes

D. distributions

E. all of the above

None of the above

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4. U.S. tax deductions, tax exemptions, and tax credits all reduce your taxable income. (Required.)

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5. All of the following are keys to prudent investing, except: (Required.)

A. the power of patient capital

B. taking as much risk as possible

C. investing as early as possible

investing for the long-term

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6. The distribution of a portion of assets to beneficiaries from a trust at one time is known as decanting. (Required.)

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7. Investment statements typically include the following, except: (Required.)

A. beginning market value

B. net flows

C. investment earnings

D. net worth

E. ending market value

F. all of the above.

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8. A trust is never used as an adjunct for or in conjunction with a will. (Required.)

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9. The process of developing a personal financial plan may consist of the following: (Required.)

A. defining one's financial goals

B. determining the costs associated with those financial goals

C. identifying the anticipated actions to achieve those goals

D. prioritizing goals

E. garnering advice and input from advisors while developing the financial plan

F. all of the above

Tamarind Learning Knowledge Check

Test Your Knowledge

Question Title

* 1. The main parties to a trust include: (Required.)

Question Title

* 2. A delegated trust is a structure where a trustee is authorized to hire experts to assist with the trust's administration. (Required.)

Question Title

* 3. Factors that may erode a trust's corpus over time include: (Required.)

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* 4. U.S. tax deductions, tax exemptions, and tax credits all reduce your taxable income. (Required.)

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* 5. All of the following are keys to prudent investing, except: (Required.)

Question Title

* 6. The distribution of a portion of assets to beneficiaries from a trust at one time is known as decanting. (Required.)

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* 7. Investment statements typically include the following, except: (Required.)

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* 8. A trust is never used as an adjunct for or in conjunction with a will. (Required.)

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* 9. The process of developing a personal financial plan may consist of the following: (Required.)

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* 10. The Power of Attorney (POA) has the authority to make financial decisions on another's behalf in the event they are incapacitated. (Required.)

1. The main parties to a trust include: (Required.)

2. A delegated trust is a structure where a trustee is authorized to hire experts to assist with the trust's administration. (Required.)

3. Factors that may erode a trust's corpus over time include: (Required.)

4. U.S. tax deductions, tax exemptions, and tax credits all reduce your taxable income. (Required.)

5. All of the following are keys to prudent investing, except: (Required.)

6. The distribution of a portion of assets to beneficiaries from a trust at one time is known as decanting. (Required.)

7. Investment statements typically include the following, except: (Required.)

8. A trust is never used as an adjunct for or in conjunction with a will. (Required.)

9. The process of developing a personal financial plan may consist of the following: (Required.)

10. The Power of Attorney (POA) has the authority to make financial decisions on another's behalf in the event they are incapacitated. (Required.)