Competency to Execute a Will

question 90

Multiple Choice

Competency to execute a will

• A)requires a lesser threshold than other competencies.
• B)refers to an individual's functional abilities at the time the will was drafted.
• C)requires a testator to know the nature and extent of their property
• D)all of the above

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Definitions:

Real Exchange Rate

A measure that compares the relative price of a basket of goods between two countries, adjusted for currency exchange rates.

Basket Of Goods

A set of products and services, considered a representative sample, used to measure the change in overall price levels over time, such as in the calculation of inflation.

Purchasing-Power Parity

An economic theory that states that the exchange rate between two currencies is equal to the ratio of the currencies' respective purchasing powers.

Inflation

A rise in the general level of prices of goods and services in an economy over a period of time, eroding purchasing power.