Which of the Following Statements Is True

question 9

Multiple Choice

Which of the following statements is true?

• A) If the donor retains the power to change the trust beneficiary, the gift is complete.
• B) Transfers to an irrevocable trust can be deemed incomplete due to powers retained by the grantor.
• C) Transfers to a revocable trust are completed gifts.
• D) All of the above are false.

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Definitions:

Large Population

Refers to a substantial number of units or individuals within a specified area or group, often used in statistical analysis and sampling.

M/M/1 Assumptions

Assumptions used in queuing theory where there is a single server, arrivals are Markovian (Poisson process), service times are exponentially distributed, and there is an unlimited queue.

Average Number

A mathematics term referring to the sum of a list of numbers divided by the count of numbers in the list.

λ

A symbol often used to represent the rate at which events occur in a Poisson process, typically events per unit time.