CTFA Exam Questions & Answers 2024

CTFA Exam Questions & Answers 2024 Test - ANSWER-This is a test Steven - ANSWER-Nyu student Governing Trust instrument State Trust Law Federal laws such as federal tax & environmental laws - ANSWER-Rules governing the actions of a trustee are determined by: Trustee - ANSWER-Legal title to trust property is vested in: Beneficiaries - ANSWER-Equitable title to trust property is held by: Yes - ANSWER-Can settlor create trust by oral expression of intent? Express Trust - ANSWER-When a settlor creates a trust declaring herself or himself as a trustee of their own property, or transferring said property to another trustee - What type of trust? They are IMPLIED TRUSTS created under operation of law and are imposed by courts. Resulting trusts: Essentially a intent-enforcing trust.. A court imposes this type of trust when it determines that property was transferred to one person with the intent that it be held in trust for another. A resulting trust is based on the presumed or unexpressed intent of transferor. Constructive trusts: Essentially a fraud-rectifying trust generally, the courts impose constructive trusts if t finds that a person has obtained property through a wrongful act and declare that the property be held in trust for the rightful owners. - ANSWER-What are non-express trusts?