In Most States, a Trustee's Investment Decisions Are Usually Governed

question 40

Multiple Choice

In most states, a trustee's investment decisions are usually governed by:

• A) the prudent person rule.
• B) judiciary determination.
• C) the beneficiary's intent.
• D) The Uniform Principal and Income Act.

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Definitions:

Implicit

Something implied or understood though not directly expressed.

Explicit

Something stated clearly and in detail, leaving no room for confusion or doubt.

Metaphorical

Pertaining to or characterized by metaphor; using figures of speech that imply a comparison between unlike entities.

Literal

Pertains to the exact meaning of words or texts, without interpretation or exaggeration.