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____ Are Predefined Actions That the Project Team Will Take

question 24

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____ are predefined actions that the project team will take if an identified risk event occurs.


Definitions:

Testamentary Trust

A legal mechanism specified in a will that comes into effect upon the death of the individual, and dictates how their assets are allocated.

Securities

Financial instruments that represent an ownership position in a publicly-traded corporation (stock), a creditor relationship with a governmental body or a corporation (bond), or rights to ownership as represented by an option.

Personal Representative

is an individual appointed to manage the estate of a deceased person, including distributing assets to beneficiaries.

Intestate Succession

The process by which the property of a deceased person is distributed by law to heirs when that person dies without a valid will.

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