If You Establish A(n)________ Trust,you Cannot Change Its Terms or End

question 53

Multiple Choice

If you establish a(n) ________ trust,you cannot change its terms or end it.

• A)irrevocable
• B)revocable
• C)living
• D)self-declaration
• E)testamentary

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Definitions:

Simple Interest

Simple interest is a way of calculating interest where the amount earned or paid is based on the original principal and does not compound.

Face Value

The nominal or dollar value printed on a security or financial instrument, such as a bond or stock certificate.

Interest Rate

The percentage of a loan that is incurred as interest by the borrower, usually represented as an annual percentage of the outstanding loan amount.

Non-Interest-Bearing

Describes a financial instrument that does not generate interest income for the holder.