CFA LEVEL III| 197 QUESTIONS| WITH COMPLETE SOLUTIONS
Estate deffinition correct answer: is everything a person owns Probate correct answer: the legal process to confirm the validity of the will. what is intestate correct answer: when you die without a will and a court has to decide who gets what civil law vs common law courts correct answer: civil law is predominant legal system, apply abstract rules or thoughts to case. Common law (Britain and USA) uses the rulings in previous court cases to defend claims communal vs separate property regimes correct answer: separate: each spouse can control property independently in community property regime there is always a 1/2 split regardless 4 ways taxes are levied correct answer: tax on income, tax on wealth, tax on spending, tax on wealth transfers testamentary gratuitous transfer correct answer: means a transfer of wealth to another person made after death human capital correct answer: a
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cfa level iii| 197 questions| with complete solutions
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