Identify Which of the Following Statements Is False

question 54

Multiple Choice

Identify which of the following statements is false.

• A)A gift occurs when a revocable trust is funded.
• B)A gift does not occur until the transfer is complete.
• C)A transfer is incomplete (and not subject to the gift tax)if the donor retains the power to name new beneficiaries or to change the interests of the beneficiaries.
• D)Transfers to an irrevocable trust can be deemed incomplete.

---

Definitions:

Passing the Next Exam

Refers to the process and strategies involved in successfully preparing for and completing an upcoming examination.

Earning an A

Achieving the highest grade in an academic assessment, indicative of excellent understanding or performance.

Psychology Graduate Program

A psychology graduate program is an advanced course of study that focuses on theoretical, experimental, and applied aspects of psychology, leading to a master's or doctoral degree.

Bachelor's Degree

An undergraduate academic degree awarded by colleges and universities upon completion of a course of study lasting three to seven years (depending on institution and academic discipline).