Since a Will Can Direct Only Property That Is Owned

question 23

Multiple Choice

Since a will can direct only property that is owned by the testator at the time of his death, a specific bequest of property that the testator has disposed of before his death is ineffective. This is called _____.

• A) residuary
• B) will devise
• C) per stirpes
• D) ademption

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Definitions:

Job-Comparison Chart

A methodical tool utilized for the evaluation and comparison of job roles based upon various metrics and benchmarks.

Nonmandated Benefits

Refers to the voluntary provision of benefits by employers, such as dental insurance, retirement plans, and paid time off, that are not required by law.

Perquisite

A benefit or privilege granted to an employee in addition to their regular salary or wages, often referred to as a "perk."

Point System

The point system for job evaluation requires managers to quantify, in objective terms, the value of the various elements of specific jobs.