A Trustee Is an Individual or Organization That Is Responsible

question 15

Multiple Choice

A trustee is an individual or organization that is responsible for

• A)carrying out the administration involved in settling an estate.
• B)selling the assets to one or more of the beneficiaries of a will.
• C)distributing the assets to one or more of the beneficiaries of a will.
• D)managing the assets held in trust while the estate is settled.

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Definitions:

Risk-Free Rate

The theoretical rate of return of an investment with zero risk of financial loss, often represented by the yield on government bonds.

Option

A contract that gives its owner the right to buy or sell some asset at a fixed price on or before a given date.

European Option

Option that can be exercised only on the expiration date.

Expiration Date

The last day on which an option can be exercised.