For Each of the Following Items, Insert the Best Term

question 100

Multiple Choice

For each of the following items, insert the best term or phrase. An answer choice may be used more than once, but only one choice is the best for each descriptive phrase.
-A trust that might be used to reduce probate costs, but not Federal estate and gift tax.

• A)Complex
• B)Decedent
• C)Executor
• D)Grantor
• E)Living
• F)Reversionary
• G)Simple
• H)Sprinkling
• I)Trustee

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Definitions:

Variance

A measure of how much values in a dataset differ from the mean of the dataset, indicating the spread of data points.

Discrete Probability Distribution

A statistical function that describes the probability of occurrence of each value of a discrete random variable.

Discrete Random Variable

A variable that takes on a countable number of distinct values and is often used to model scenarios where outcomes are distinct and separate.

Discrete Quantitative Variables

Variables that represent countable quantities and can take on a finite number of distinct values.