The Characteristics of a Totten Trust Include

question 38

Multiple Choice

The characteristics of a totten trust include:

• A) it is a joint bank account opened by the settlor of the trust.
• B) it is tentative.
• C) transfer of ownership is complete only on the depositor's death.
• D) All of these.

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Definitions:

Intelligence Test

A standardized evaluation designed to measure human intelligence, cognitive abilities, and potential.

IQ Score

A numerical representation derived from standardized tests designed to measure human intelligence and cognitive abilities in relation to an age group.

Mental Retardation

An outdated and now considered offensive term for intellectual disability, characterized by limitations in intellectual functioning and adaptive behavior.

Adaptive Behavior

Describes an individual's ability to modify their actions, thoughts, or emotions to meet environmental demands or challenges.