Which of the Following Statements About Testamentary Capacity to Make

question 26

Multiple Choice

Which of the following statements about testamentary capacity to make a valid will is false?

• A)To be of "sound mind" a person need only realize that she is making a will.
• B)In most states,a person needs to be 18 years old.
• C)A person that moves in and out of periods of lucidity can still have testamentary capacity if she executed her will during a lucid period.
• D)The standard for mental capacity to make a will is fairly low.

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Definitions:

Stock Held

Shares of a company that are owned by an individual or entity, representing a portion of ownership in that company.

Initial Offering

The first sale or issuance of stock by a company to the public, typically referred to as an Initial Public Offering (IPO), marking a company's transition from private to public.

Sarbanes-Oxley Act

A law passed by the U.S. Congress in 2002 aimed at protecting investors from fraudulent financial reporting by corporations.

Securities Act of 1933

United States federal law enacted as a result of the stock market crash of 1929, which requires securities sold to the public to be registered and regulated.