As a Result of an Unqualified Refusal by a Potential

question 7

Multiple Choice

As a result of an unqualified refusal by a potential beneficiary to accept a transfer of property,the property passes to:

• A)The beneficiary.
• B)The contingent beneficiary.
• C)The disclaimant.
• D)The disclaimant beneficiary.

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Definitions:

Front-end Load

A commission or sales charge applied at the time of the initial purchase of an investment, usually used in mutual funds.

Back-end Load

A fee paid by an investor when shares are sold, typically used in mutual funds, where the fee decreases over time the investment is held.

Annual Fees

Refers to the yearly charges associated with having an account, typically found in credit cards or investment accounts, to cover account management services.

12b-1 Fees

These are annual fees charged by a mutual fund to cover marketing, distribution, and sometimes administrative expenses, directly reducing the fund's return to its investors.