Trustee duties

Trustee duties

University

14 Qs

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Trustee duties

Trustee duties

Assessment

Quiz

Social Studies

University

Practice Problem

Medium

Created by

Rachael STRETCH

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14 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

According to section 1 of the Trustee Act 2000, a trustee has to be prudent in their investment decisions

true

false

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The standard investment criteria can be found in

Trustee Act 2000 s. 1

Trustee Act 2000 s. 2

Trustee Act 2000 s. 3

Trustee Act 2000 s. 4

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The standard investment criteria require a trustee to diversify and therefore a trustee can not invest more than 50% of a trust fund in one investment.

True

False

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Section 3 of the Trustee Act 2000

Is the trustee's duty of care

Is the standard investment criteria

states that the trustee can buy/sell/rent/ invest in trust property just like an absolute owner

Says that a trustee has to ask for advice before making an investment

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A trustee has a duty to insure the trust property

True

False

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A trustee does not have to get advice if

He is investing less than half the trust property

All the trustees agree to the investment

he reasonably concludes that in all circumstances it is unnecessary/ inappropriate to get advice

false - trustees always have to get advice

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

a trustee can take account of ethical considerations

If the trust instrument allows him to

If all of the trustees agree

if he is investing less than half the trust property

If he gets advice first

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