What Type of Organization Is Always a Private Foundation

question 49

Multiple Choice

What type of organization is always a private foundation?

• A)A church that receives all of its support from members
• B)A scholarship fund for policemen that receives half of its income from interest and dividends
• C)A school that receives government grant funds
• D)A church that derives 5 percent of its income from rental of its sanctuary for concerts by aspiring concert musicians.

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Definitions:

Death Benefit

A sum of money paid to a beneficiary upon the death of the insured person.

Breach Of Warranty

The violation of a promise, claim, or guarantee about the condition or quality of a product or service.

Insurer's Duty

The obligations and standards of conduct expected from an insurance company, including acting in good faith and handling claims fairly.

Innocent Misrepresentation

A false statement made without malice or knowledge of its falsity, often leading to a misunderstanding in a contract or agreement.