Identify Which of the Following Statements Is True

question 73

Multiple Choice

Identify which of the following statements is true.

• A)An individual making a qualified disclaimer can determine to whom the disclaimed property will pass.
• B)A qualified disclaimer must be made within six months after (a)the day the property is transferred, or (b)the day the person receiving the property becomes age 21, whichever is later.
• C)One of the tests that a qualified disclaimer must meet is that it must be an irrevocable, unqualified, written refusal to accept property.
• D)All of the above are false.

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Definitions:

Fire

A rapid oxidation process that generates heat, light, and various reaction products, often used for energy or seen as a risk for damage.

Notify

To formally inform or give notice to someone about an event, decision, or action that concerns them or requires their attention.

Life Insurance Policy

A contract between an insurance policyholder and insurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of the insured person.

Drunken Rage

A state of extreme anger and aggressive behavior induced by excessive consumption of alcohol.