? 1.The wealth you accumulate over your lifetime less any debts you owe is your estate.? ? A)True? ? B)False? ? 2.It is crucial in estate planning to plan the transfer of ownership of your assets.? ? A)True? ? B)False? ? 3.Probate is a court procedure to distribute assets of an estate.? ? A)True? ? B)False? ? 4.All property included in an estate must go through probate.? ? A)True? ? B)False? ? 5.Covered calls means? ? A)I own 100 shares of the call I wrote? ? B)I don’t own 100 shares of the call I wrote? ? 6.Naked calls writing? ? A)I own 100 shares of the call I wrote? ? B)I don’t own 100 shares of the call I wrote? ? 7.Legal heirs to an estate are defined by the federal government.? ? A)True? ? B)False? ? 8.A will is a written document that directs the disposition of assets after death.? ? A)True? ? B)False? ? 9.A person who inherits or is entitled by law or by the terms of a will to inherit some asset is called an heir.? ? A)True? ? B)False? ? 10.When one dies without a will, the judge who probates the estate has control over the distribution of property.? ? A)True? ? B)False? ? 11.Derivatives derive their value based on an underlying security.? ? A)True? ? B)False? ? 12.If you buy a call, you are betting the stock will go past the strike price you wrote the call for? ? A)True? ? B)False? ? 13.A beneficiary is a person or organization designate to receive a benefit, such as an IRA or 401(k) plan.? ? A)True? ? B)False? ? 14.A 401k plan is named after the tax code of the IRS that states what a employee sponsored retirement plan can be ? ? A)True? ? B)False? ? 15.Property owned in joint tenancy with right of survivorship is distributed through probate.? ? A)True? ? B)False? ? 16.The partnership theory of marriage rights is the basis for the presumed intent of wedded couples to share their fortunes equally.? ? A)True? ? B)False? ? 17.If you…
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