In Reference to Estates,which of the Following Statements Is Correct

question 1

Multiple Choice

In reference to estates,which of the following statements is correct?

• A)An estate comes into existence at the death of an individual.
• B)If the deceased person had a valid will at the time of death,he or she is said to have died intestate.
• C)The heir receiving the largest portion of the estate is typically appointed the executor.
• D)Claims may be made for up to seven years against an estate.

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Definitions:

Framing

Whether messages stress potential gains (positively framed) or potential losses (negatively framed).

Positives

Refers to the aspects or qualities considered to be favorable, good, or beneficial in a situation or entity.

Reduced Price

A lowered cost or value of an item or service, typically to encourage purchase or due to decreased demand.

Cognitive Miser

A term used to describe people’s reluctance to do much extra thinking.