Which of the Following Is Not a Duty of a Trustee

question 29

Multiple Choice

Which of the following is not a duty of a trustee?

• A) to use reasonable skill
• B) to keep accurate records
• C) to invest trust assets
• D) to deliver possession of trust assets to the settlor for the trust period

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Definitions:

Interest

The charge for borrowing money or the compensation for lending money, typically calculated as a percentage of the principal amount.

Note Receivable

A promissory note held by the lender, stating the money due to be paid back by the debtor.

Maturity

Maturity in finance refers to the date on which the principal or final payment of a loan, bond, or other financial instrument is due to be paid in full.

Percent of Sales Method

A financial forecasting model used to estimate certain balance sheet and income statement figures based on projected sales revenue.