Examlex

Solved

A Personal, Revocable Privilege to Perform an Act or Series

question 43

Multiple Choice

A personal, revocable privilege to perform an act or series of acts upon the land of another is called a(n) : ______.


Definitions:

Non-specified Benefit Plan

An employee benefit plan that does not define specific benefits in advance but may provide a pool of funds for potential distribution.

Specified Benefit Plan

A retirement plan where the benefits to be received by employees are defined and specified in advance.

Defined Benefit Plan

A retirement plan in which an employer commits to paying a specified pension amount to employees upon retirement, based on factors like salary history and length of employment.

Defined Contribution Plan

A type of retirement plan where employees, employers, or both make contributions on a regular basis, but the benefits received at retirement depend on the performance of the investments.

Related Questions