The Uniform Transfers to Minors Act

question 67

Multiple Choice

The Uniform Transfers to Minors Act:

• A)permits the donor to deliver the property to a custodian who acts for the benefit of the minor under the Act.
• B)prohibits an adult from making a gift to a minor unless the minor is the child of the donor.
• C)provides a method for making gifts to minors,who are defined by the Act as children under the age of 16.
• D)provides a complicated and abstract method of transferring money to minors.

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Definitions:

Discrete Variables

Variables that assume a countable number of separate values, often representing categories or distinct groups.

Nominal

Refers to a type of variable that represents categories with no intrinsic order or ranking.

Ordinal

A scale of measurement where numbers represent ordered categories that have a meaningful sequence, but the intervals between the categories are not necessarily equal.

Ratio Scales

Ratio scales are a type of measurement scale that not only have order and equal intervals but also have a true zero point, allowing for the calculation of ratios.