ACC 460 Ch. 26 Quiz Answers
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School
University of Nevada, Reno *
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Course
460
Subject
Law
Date
Jan 9, 2024
Type
Pages
6
Uploaded by PresidentUniverse5208
Chapter 26 Quiz Due
No due date Points
10
Questions
10
Available
Apr 30 at 12am - May 4 at 11:59pm 5 days
Time Limit
None Allowed Attempts
Unlimited This quiz was locked May 4 at 11:59pm. Attempt History
Attempt
Time
Score
LATEST Attempt 1 less than 1 minute 10 out of 10 Score for this attempt: 10
out of 10 Submitted May 3 at 8:24pm This attempt took less than 1 minute. 1 / 1 pts Question 1
True/False: Once written, a will is irrevocable.
False
Correct!
Correct!
True
1 / 1 pts Question 2
True/False: A trust is less private than a will since a trust must be filed as a public record to be valid.
False
Correct!
Correct!
True
1 / 1 pts Question 3
What kind of trust arises takes effect only upon the death of the settlor?
Testamentary trust
Correct!
Correct!
Inter vivos trust
Express trust
Totten trust
1 / 1 pts Question 4
Amy recent executed a living will. What provisions is it most likely to include?
Her intention to forgo or obtain certain life-prolonging medical procedures
Correct!
Correct!
Who she wishes to receive the property from her estate
Which charity shall benefit from her estate
All of the above
1 / 1 pts Question 5
Which of the following steps does NOT occur during the probate process?
Executing a will in compliance with state statute
Correct!
Correct!
Providing notice to creditors
Determining whether a valid will exists
determine whether the decedent left a will and follow the directions in the will
1 / 1 pts Question 6
What happens if a person dies intestate?
Their property passes based on state statute
Correct!
Correct!
Their beneficiaries must petition the court for claim to their property
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Only their creditors are entitled to claim their property
Their last writing is treated as their will
1 / 1 pts Question 7
In my will, I made bequests of $6,000 to my cousin Jill and my Chevy to my uncle Jack. Everything I own when I die is referred to as . . .
My residuary estate
Correct!
Correct!
Non-probatable property
The elective share
My non-specific devise
1 / 1 pts Question 8
If you are discussing your will and someone asks you to tell them about your issue, they are likely referring to your . . .
Lineal descendants (children, grandchildren, etc.)
Correct!
Correct!
The nature and extent of your wealth
Your capacity as a testator
The basis for your disinheritance
1 / 1 pts Question 9
Barbara writes the following on a sticky note: "Afraid I might be eaten by a demigorgon soon. This is the end of the line. If I don't make it back, I leave my glasses to Nancy." She then signs and dates it. Will Nancy likely have a claim to Barb's glasses if she dies? Why or why not?
Yes. The note shows testamentary intent and will likely meet the requirements for a holographic will.
Correct!
Correct!
Yes. Under the doctrine of cy pres.
No. The note does not meet the formality requirements for a valid will.
No. There is no evidence anyone witnessed her signature on the sticky note.
1 / 1 pts Question 10
Ben wants to amend his will so that his brother Dave gets his prized Magic cards instead of his ex-girlfriend Margaret. Which of the following methods can he NOT use to do that?
Crossing out Margaret, writing Dave above it, and initialing and dating the change.
Correct!
Correct!
Setting the will on fire and executing a new one.
Executing a codicil using the same formalities as the original will.
All of these methods will work.
Quiz Score: 10
out of 10
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