Which of the Following Statements Is True

question 7

Multiple Choice

Which of the following statements is true?

• A) .A gift in a trust 'to Lucinda if she obtains an honours degree' is vested because, since the beneficiary is identified by name, she is immediately ascertainable.
• B) A trust created by Alison in her will 'to such of my children who may be living at the date of my death' confers only contingent interests because the children are not named.
• C) A gift in a trust to Martin when he reaches the age of 18 years is contingent until Martin reaches that age.
• D) A gift in a trust 'to Lavinia's first-born child' gives that child a vested interest as soon as that child is born.

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Definitions:

State of Flow

A state of mind in which an individual is completely absorbed and finds pleasure in an activity, marked by intense concentration, complete engagement, and a sense of satisfaction from the activity itself.

Viewing Work

The perspective or attitude one holds towards their job or professional responsibilities.

Illustrating Charisma

Demonstrating the compelling attractiveness or charm that can inspire devotion in others.

Recency Errors

A cognitive bias that occurs when the most recent information or experiences have a disproportionate impact on one's memory or evaluation of a situation.