AAFM CTEP Exam - Topic 1 Question 57 Discussion

Actual exam question for AAFM's CTEP exam

Question #: 57
Topic #: 1

[All CTEP Questions]

A trustee commuting a breach of trust not liable to pay interest except

A(i) & (ii)

B(ii) & (iii)

COnly (ii)

DAll of the above

Show Suggested Answer

Suggested Answer: B

by Nieves at Dec 06, 2024, 01:46 AM

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Kirby

5 months ago

All of the above sounds too broad to me.

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Mohammad

5 months ago

I think it's (ii) & (iii) based on what we've learned.

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Arlene

5 months ago

Wait, are you sure about that? Seems a bit off.

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Adelaide

6 months ago

Totally agree, it's all about the specifics!

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Ilda

6 months ago

A trustee usually isn't liable for interest unless specified.

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Iesha

6 months ago

I’m pretty sure all options could potentially apply, but I need to double-check what the specific exceptions are for each case.

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Helga

6 months ago

I feel like (ii) is definitely a key point, but I can't recall if (iii) also plays a role in this scenario.

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Pura

6 months ago

I think I saw a similar question where it was about the circumstances under which a trustee could be liable for interest. I might lean towards (i) & (ii) being correct.

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Kasandra

7 months ago

I remember something about trustees not being liable for interest unless certain conditions are met, but I'm not sure which ones apply here.

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Lenita

7 months ago

I feel pretty confident about this one. The question is straightforward, and I think I can eliminate a couple of the options right away based on my understanding of the relevant law.

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Marvel

7 months ago

This is a good opportunity to apply the principles we've learned about trustees' liability for breach of trust. I'll work through the logic step-by-step to arrive at the correct answer.

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Arletta

7 months ago

Okay, I think I've got a handle on this. The key is to focus on the specific exceptions mentioned in the question and match them to the options provided.

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Cecil

7 months ago

Hmm, I'm a bit confused by the wording here. I'll need to re-read the question and options a few times to make sure I understand what's being asked.

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Alayna

7 months ago

This looks like a tricky question. I'll need to carefully read through the options and think about the different scenarios where a trustee may or may not be liable for interest.

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Remona

12 months ago

As a professional trustee, I can tell you that the answer is always 'pay more interest.' Just sayin'.

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Jarod

10 months ago

C) Only (ii)

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Sarina

10 months ago

B) (ii) & (iii)

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Leonor

10 months ago

A) (i) & (ii)

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Lea

12 months ago

Ah, the joys of trustee law. I'm going to go with C) Only (ii) on this one. Hopefully, the exam gods are feeling merciful today.

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Yuriko

11 months ago

Let's hope for the best, maybe we'll both get lucky with our choices.

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Edna

11 months ago

I'm not so sure, I'm leaning towards D) All of the above.

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Trevor

11 months ago

I think you're right, C) Only (ii) seems like the correct answer.

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Stephaine

12 months ago

Haha, this reminds me of that time my trustee tried to commute a breach with a pack of gum and a rubber band. Classic. Anyway, I'm going with C) Only (ii).

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