In States That Have Not Adopted the Uniform Probate Code,the

question 34

Multiple Choice

In states that have not adopted the Uniform Probate Code,the person named in a will to carry out the terms in it is called a(n) :

• A)administrator or administratrix.
• B)executor or executrix.
• C)settler.
• D)testator or testatrix.

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Definitions:

Amortization Table

A schedule that details each payment on an amortizing loan (such as a mortgage), including how much of each payment is interest vs. principal and the remaining balance.

Semiannual Interest

Semiannual interest is interest that is calculated and paid twice a year on investments or loans.

Straight-Line Method

A depreciation technique that allocates an equal amount of depreciation expense over the useful life of an asset.

Semiannual Interest

Interest payments made twice a year on investments or loans.