Complete Loss of Intellectual/legal Capacity on the Part of the Principal

question 4

Multiple Choice

Complete loss of intellectual/legal capacity on the part of the principal will:

• A)Give the principal the right to elect to terminate the agency agreement.
• B)Automatically terminate the agency unless the agent was appointed under the authority of a general power of attorney.
• C)Automatically terminate the agency unless the agent was appointed under the authority of an enduring power of attorney.
• D)Increasing the standard of care owed by the agent to the principal and broaden the scope of their duties.

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Definitions:

Medical Insurance

A type of insurance coverage that pays for medical and surgical expenses incurred by the insured.

Withholding Allowance

An amount claimed on tax Form W-4 that determines how much income tax the employer will withhold from each paycheck. Each allowance claimed (as for a spouse or dependents) reduces the amount of income tax withheld.

Taxable Income

The portion of an individual’s or corporation's income that is subject to taxes by the government.

Withholding Allowance

A claim made by an employee on a W-4 form to reduce the amount of income tax withheld from their paycheck.