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AFSB 153 - Assignment 6 Practice Exam questions with verified solutions 2024/2025
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AFSB 153 - Assignment 6 Practice Exam questions with verified solutions 2024/2025
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AFSB 153 - Assignment 6 Practice ExamBonds in estates of deceased persons are filed in
Probate court.
3 multiple choice options
Courts that exercise equitable jurisdiction.
Although improving probate procedures, a downside to the UPC is that reduced supervision
may increase the need for bonds.
3 multiple choice options
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Which one of the following refers to the court appointed individual who handles the estate of a
person who has died without a will?
Administrator
3 multiple choice options
Which one of the following bonds is required when the probate court appoints an administrator
to replace the original administrator who has died, resigned, or been discharged before the
estate administration is complete?
Administrator de bonis non bond
3 multiple choice options
In states that have not adopted the Uniform Probate Code (UPC), a court appoints which one of
the following fiduciaries?
, A personal representative
3 multiple choice options
Tom Romero of Wayland Sureties is evaluating applications for executor and personal
representative bonds. All of the following are potentially concerning factors for Tom during this
process, EXCEPT:
The applicant is represented by an attorney involved in probate matters
3 multiple choice options
The will of recently deceased Jason requires his representative Harold to furnish an executor
bond. Accordingly, which one of the following is true?
Harold would be the principal in this scenario.
3 multiple choice options
Which one of the following statements concerning minors also applies to incompetents?
They cannot legally enter into business contracts.
3 multiple choice options
Which one of the following statements describes a conservator ad litem?
A fiduciary appointed by the court to protect the assets of a minor during litigation when the
litigation delays the appointment of a permanent guardian
2 multiple choice options
A surety is requiring joint control for a bond for a trustee under a will. The reason for requiring
this is most likely
The long-term obligation associated with this bond.
3 multiple choice options
Herman was appointed as trustee under a deed to manage a real estate portion of the estate's
assets. He will do all of the following in this appointment, EXCEPT:
Keep separate bank accounts for the revenue collected
3 multiple choice options
Which one of these chapters of the bankruptcy code gives farm operations reorganization
opportunities?
Chapter 12
3 multiple choice options
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