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BAFM 103 Quiz 5

Authored by Mary Jane Murillo

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Professional Development

BAFM 103 Quiz 5
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20 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Trust business shall refer to

any activity resulting from a trustor-trustee relationship (trusteeship)

involving the appointment of a trustee by a trustor

for the administration, holding, management of funds and/or properties of the trustor by the trustee for the use, benefit or advantage of the trustor or of others called beneficiaries.

all of these

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What banks may be authorized to perform trust and other fiduciary functions?

universal and commercial banks with minimum capitalization requirement

branches of foreign banks

thrift banks with P650 million capital

all of them

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This refers to any activity of a trust-licensed bank resulting from a contract or agreement whereby the bank binds itself to render services or to act in a representative capacity such as in an agency, guardianship, administratorship of wills, properties and estates, executorship, receivership, and other similar services

Fideral business

Fiduciary business

Guardianship business

Administratorship business

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This activity shall refer to any activity resulting from a contract or agreement primarily for financial return whereby the bank (the investment manager) binds itself to handle or manage investible funds or any investment portfolio in a representative capacity of financial or investment management, advisory, consultancy or any similar arrangement which does not create or result in a trusteeship

Trust business

Fiduciary business

Investment management

Client management

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This is an instrument in writing covering the terms and conditions of the trust.

contract

trust agreement

memorandum of agreement

financial agreement

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This is any person who holds legal title to the funds and/or property of a trust.

trustee

trustor

beneficiary

fiduciary

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

This is any person for whose benefit a trust is created.

trustee

trustor

beneficiary

fiduciary

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