Which of the Following Statements About the Uniform Prudent Management

question 50

Multiple Choice

Which of the following statements about the Uniform Prudent Management of Institutional Funds Act (UPMIFA) is correct?

• A) It establishes a maximum total return rate for investments.
• B) It requires that the spending rate for the return on investments be no more than five percent.
• C) It allows institutions to release net assets from restrictions if certain criteria are met.
• D) It requires that specific policies concerning solicitation of donations be established.

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Definitions:

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A soft, fluffy staple fiber that grows in a boll around the seeds of cotton plants, historically significant as a major driver of the economy, especially in the American South.

Civil Rights Act

A landmark piece of federal legislation in the United States that prohibits discrimination on the basis of race, color, religion, sex, or national origin.