Which of the Following Statements Is TRUE Regarding the Personal

question 1

Multiple Choice

Which of the following statements is TRUE regarding the personal representative's bond?

• A) A bond is an oral promise by the personal representative to pay the amount of the bond to the court if the representative does not faithfully perform his duties.
• B) Under the UPC, a bond is not required when an interested person demands that a bond be given.
• C) A surety bond contains the signature of the personal representative.
• D) In some states, no bond is required if the will includes a provision like the "No Surety on Bond" provision.

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Definitions:

Consumer Price Index

An indicator that evaluates the weighted average cost of a collection of consumer products and services like healthcare, food, and transportation.

Purchasing Power

The worth of a currency represented by how much goods or services can be purchased with one unit of that currency.

Inflation

The rhythm at which the universal cost metrics for goods and services advance, trimming down purchasing reach.

Annual Interest Rate

The percentage increase in money that borrowers pay lenders over a year, based on the original amount of the loan.