FROM "TWO-YEAR BONUS," ON PAGE 47:
1. The interest rates on GRATs, CLATs, family loans and other estate planning techniques were 3.88% in January, up from ____ in ____ .
a. 2% in September
b. 3.53% in December
c. 2.25% in October
d. 2.81% in November
FROM "LAST WISHES," ON PAGE 50:
2. Trusts have latitude in requiring specific behavior from beneficiaries, except to:
a. marry within the family faith
b. change a survivor's surname
c. adhere to a faith
d. none of the above
FROM "HEIR Loss," ON PAGE 83:
3. Transfer-to-death and payable-on-death accounts often work well where no taxable estate exists. Why?
a. clients can control the money during their lifetime
b. they are inexpensive
c. they are easy to set up
d. all of the above
FROM "THE POWER OF A POA," ON PAGE 86:
4. When does a springing power of attorney become effective?
a. after a triggering event
b. after a review period
c. after the notarization
d. while the durable power is being drafted
FROM "DOLLAR DOUBTS," ON PAGE 91:
5. S. Mackintosh Pulsifer, CIO of Fiduciary Trust Co., predicts commodities like crude oil and copper, now traded in dollars, will be purchased and sold in multiple currencies within how many years?
a. 15
b. 17
c. 20
d. 25
6. Which of the following is true about the dollar today?
a. the latest round of quantitative easing by the Fed will drive its value up
b. its value fell in late 2010 because of fiscal problems in Greece and Ireland
c. because of uncertainty about its value, now is the time to look at dollar hedges
d. all of the above
FROM "SEND IN THE CLONES," ON PAGE 97:
7. Which of the following is the most popular method used to clone hedge funds today?
a. factor replication
b. mechanical trading
c. distribution replication
d. none of the above
FROM "BACK TO NORMAL," ON PAGE 100:
8. Hedge fund ____ contributed to the relatively strong run-up in convertibles in 2007, and subsequent ____ drove down prices in 2008.
a. selling, buying
b. buying, selling
c. discounting, inflating
d. inflating, discounting
FROM "CONSISTENCY MATTERS," ON PAGE 104:
9. In which decade did a multi-asset portfolio, consisting of equal allocations of 14.3% in seven assets, perform the worst?
a. the 1970s
b. the 1980s
c. the 1990s
d. none of the above
FROM "EQUITIES RISING," ON PAGE 107:
10. In the fourth quarter of 2010, which mutual fund sector was hurt by a stronger U.S. dollar?
a. global health/biotechnology
b. Latin American debt
c. global utility funds
d. international real estate
