1. The government has passed an important law that protects employees who participate in aprivate pension plan. This law is known as the
A. Employee Pension Protection Act.
B. Employee RETIREMENT INCOME Act.
C. Pension Benefit Guaranty Act.
D. Pension and RETIREMENT INCOME Act.
2. Who needs to DEVELOP an estate plan?
A. Children who may inherit wealth in future
B. Only very wealthy people
C. Only married couples
D. Anyone that wants to control the disposition of assets upon death
3. Your real and personal property that can be transferred according to the terms of a will iscalled your
A. gross estate.
B. net estate
C. Probate estate.
D. estate.
4. Your probate estate includes
A. assets held in REVOCABLE TRUSTS out of your control.
B. all assets, real and personal, that are owned in the name of the decedent.
C. all assets in which the decedent had any direct or indirect beneficial interest.
D. only intestate assets.
5. LIFE INSURANCE could alleviate estate problems caused by
A. inflation.
B. disabilities.
C. improper management.
D. lack of liquidity.