Which of the Following Is an Example of a Community

question 32

Multiple Choice

Which of the following is an example of a community property?

• A)Property acquired during the marriage through a spouse's industry or efforts.
• B)Property a spouse owned before marriage.
• C)Property acquired by a spouse during marriage as a gift or by inheritance.
• D)Property exchanged for separate property.

---

Definitions:

Present Value

The present value is the current worth of a future sum of money or stream of cash flows given a specified rate of return.

Annuity

A financial instrument providing a steady series of payments to a person, mainly utilized as a source of income for people in retirement.

Compounded Monthly

The method of calculating interest where the interest earned is added to the principal at the end of each month, leading to interest on interest in subsequent months.

Conditional Sale Agreement

A contract in which the sale is contingent upon certain conditions, typically used in real estate and high-value purchases.