Which of the Following Statements About a Unit Trust Is

question 18

Multiple Choice

Which of the following statements about a unit trust is NOT true?

• A)There is a fixed entitlement to income.
• B)Unit holders are protected by limited liability.
• C)There is a fixed capital entitlement.
• D)Units are transferrable.

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Definitions:

Nuisance

An act, condition, thing, or person causing inconvenience or annoyance to others, legally actionable if it interferes with the use and enjoyment of one's property.

Estate in Land

A legal term referring to the degree, nature, and extent of an individual's rights in real property, which can vary in duration and restrictions.

Exclusive Possession

The legal right to occupy and use property without interference from others, including the owner.

Right of Way

The legal right to pass through property owned by another, or a priority in traffic, allowing certain vehicles or pedestrians to go first.