Under the Uniform Durable Power of Attorney Act,if a Principal

question 48

True/False

Under the Uniform Durable Power of Attorney Act,if a principal who has executed a written durable power of attorney becomes incapacitated,the actual authority of an agent survives.

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Definitions:

Ordinary Annuity

A sequence of equal payments made at equal intervals of time, with the first payment occurring at the end of the period.

Compounded Quarterly

Interest calculation method where the interest is added to the principal amount every quarter, causing the interest to be calculated on the new total.

Deferred Annuity

An insurance contract in which payment of annuities is delayed to a future date.

Compounded Annually

The process where interest is calculated and added to the principal amount once every year, leading to an increase in the interest amount for the following year.