IIA-CFSA

IIA-CFSA practice questions, page 19 of 21, with answer review and explanations.

Question 91

Banks provide the following personal trust service/services for the individuals:

  1. Estate settlement
  2. Co-fiduciary
  3. Agent
  4. All of these

Question 92

Some wills specify that more than one responsible party share the trustees responsibilities of an estate .The condition depicts relation with which one of the following trust services:

  1. Guardians of estates
  2. Co-fiduciary
  3. Estate settlement
  4. Trusts

Question 93

Corporations, government entities and other organizations use banks as trustee to handle the ______________function associated with a stock or bond issue.

  1. Issuance and redemption of stocks or bonds
  2. Transfer and record keeping of stock or bonds
  3. None of these
  4. Both of these

Question 94

A trust agreement is called:

  1. Trust paper
  2. Trust agreement document
  3. Both of these
  4. None of these

Question 95

Stock transfer agent, Bond registrar, stock registrar and dividend reinvestments agent are the additional duties of:

  1. Brokers/Brokerage houses
  2. Corporate trust departments
  3. Mutual funds agencies
  4. None of these