The Personal Representative Will Generally NOT Need to File a Bond

question 26

Multiple Choice

The personal representative will generally NOT need to file a bond if:

• A)A corporation is appointed personal representative
• B)There is no will
• C)The testator requested a bond in the will
• D)A bond is required by state statute

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Definitions:

Line Department

A unit that is directly involved in the basic objectives of an organization.

Direct Authority

The power explicitly given to an individual or organization to make decisions, take action, and direct others within a specified area or function.

Vice Presidents

Executives below the president in a company's hierarchy, often overseeing specific departments or operations within the organization.

Line Positions

Positions or roles within an organization that have direct responsibility for achieving the company's primary objective.