04/30 - Wills and Trusts Quiz
Quiz by Christopher Jones
High School
Financial Mathematics
Texas Essential Knowledge and Skills (TEKS) - Electives
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5 questions
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- Q1Flora recently passed away. She had a total of $718,950 in assets and $146,719 in liabilities. What is the net value of her assets upon death?$522,371$572,231$523,721$537,221300s130.180.F.13
- Q2In regards to a will, what is another name for surviving people to whom you leave your estate?All of these.Beneficiaries.Inheritors.Heirs.300s130.180.F.13
- Q3What is someone called who handles the distribution of your estate through your will?TrustorTrusteeExecutorProbator300s130.180.F.13
- Q4Fernando's estate has a total of $850,610 in assets and $310,046 in liabilities. What is the net value of Fernando's estate?$564,054$556,404$540,564$505,644300s130.180.F.13
- Q5If Fernando's estate has a net value of $540,564 and he leaves his estate to be divided evenly among his four children, how much is each child set to inherit?$108,113$180,188$90,094$135,141300s130.180.F.13