Chapter 19 Quiz: Wills And Trusts

10 Questions | Total Attempts: 986

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Trust Quizzes & Trivia

When you’re beginning to get a little older, and you’re coming to own a home, a vehicle and more property which holds financial worth, you are likely to look into the topic of wills and trusts so that you can ensure, in the event of an unexpected bereavement, that your loved ones will be taken care of. What do you know about wills and trusts?


Questions and Answers
  • 1. 
    A person who dies without a will is called...?
    • A. 

      Testate

    • B. 

      Intestate

    • C. 

      Decedent

    • D. 

      Stupid

  • 2. 
    You must have all of the following to create a will except...?
    • A. 

      Intention to make a will

    • B. 

      Testamentary Capacity

    • C. 

      Signed and witnessed by two people who aren't inheritors

    • D. 

      Spoken aloud to a judge

  • 3. 
    An amendment to a will is called...?
    • A. 

      Codicil

    • B. 

      Estate

    • C. 

      Amendment

    • D. 

      Revocation

  • 4. 
    An entirely oral will is called a/an...?
    • A. 

      Oral will

    • B. 

      Nuncupative will

    • C. 

      Holographic will

    • D. 

      Fun will

  • 5. 
    All are ways to revoke a will except...?
    • A. 

      Defacing it

    • B. 

      Written revocation

    • C. 

      Asking for it to be revoked

    • D. 

      Adopting a child

  • 6. 
    Ways to prove death include all of the following except...?
    • A. 

      Showing the weapon they were killed with

    • B. 

      A death certificate

    • C. 

      Official notification from the armed forces

    • D. 

      A person vanishes for over five years

  • 7. 
    The creator of a trust is called a...?
    • A. 

      Settlor

    • B. 

      Testator

    • C. 

      Decedent

    • D. 

      Estator

  • 8. 
    A will should be changed after all of the following except...?
    • A. 

      Divorce

    • B. 

      Marriage

    • C. 

      Illness

    • D. 

      Birth or adoption of a child

  • 9. 
    A will takes effect...?
    • A. 

      When the maker is close to death

    • B. 

      When the maker of the will states it is to take effect

    • C. 

      When the will says it should take effect

    • D. 

      When the maker dies

  • 10. 
    All of the following are implied trusts except...?
    • A. 

      Resulting trust

    • B. 

      Testementary trust

    • C. 

      Constructive trust

    • D. 

      All of the above

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