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AAFM CTEP Exam - Topic 2 Question 59 Discussion

A trust involves_______ parties. ___________ is the person who establishes the trust.
B) Three, Settlor
A) Two, Settlor
C) Two, Executor
D) Three, Executor

AAFM CTEP Exam - Topic 2 Question 59 Discussion

Actual exam question for AAFM's CTEP exam
Question #: 59
Topic #: 2
[All CTEP Questions]

A trust involves_______ parties. ___________ is the person who establishes the trust.

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Suggested Answer: B

by Desirae at Jan 27, 2025, 01:50 PM

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Mila
6 months ago
I thought there were more than two parties involved.
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Mabel
7 months ago
Yup, I agree, it's the Settlor!
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Essie
7 months ago
Wait, are you sure it’s only two parties?
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Hector
7 months ago
Definitely, it's the Settlor who sets it up!
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Gilberto
7 months ago
A trust involves two parties, right?
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Ruth
8 months ago
I’m pretty confident it’s two parties, and the settlor is definitely the one who establishes the trust.
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Billy
8 months ago
I keep mixing up the roles; I thought the executor was the one who set up the trust, but now I'm doubting that.
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Cassi
8 months ago
I remember practicing a question like this, and I think it was three parties involved, with the settlor being the one who creates the trust.
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Mignon
8 months ago
I think a trust involves two parties, but I'm not completely sure if it's the settlor or executor who establishes it.
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Pearlie
8 months ago
I feel like I should know this, but I'm drawing a blank. Is it two parties or three? And is the person who establishes the trust called the settlor or the executor? I'm going to have to guess on this one, but I'll make sure to double-check my answer before submitting.
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Angella
8 months ago
Okay, let me think this through step-by-step. A trust involves parties, and the person who establishes the trust is either the settlor or the executor. I'm pretty sure it's two parties, not three. So I'll go with option A - a trust involves two parties, and the person who establishes the trust is the settlor.
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Remedios
8 months ago
Hmm, I'm a bit unsure about this one. I know a trust has something to do with parties, but I can't quite remember if it's two or three. And I'm not sure if the person who establishes the trust is called the settlor or the executor. I'll have to think this through carefully.
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Earlean
8 months ago
This looks like a straightforward question about the parties involved in a trust. I'm pretty confident I know the answer - a trust involves two parties, and the person who establishes the trust is called the settlor.
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Una
1 year ago
As a future trust fund baby, I'm offended by that last comment. But I'll have my butler look up the right answer for me.
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Robt
12 months ago
That's correct. The Settlor is the person who establishes the trust.
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Marshall
12 months ago
I think it's A) Two, Settlor.
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Lorean
1 year ago
A) Two, Settlor
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Tomas
1 year ago
A) Two, Settlor? That's easy, even a trust fund baby could get this one right.
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Billy
1 year ago
C) Two, Executor
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Lai
1 year ago
A) Two, Settlor? That's easy, even a trust fund baby could get this one right.
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Luisa
1 year ago
B) Three, Settlor
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Paris
1 year ago
A) Two, Settlor
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Shannan
1 year ago
Hold up, I thought the Executor was the one who settles the trust? Guess I need to brush up on my legal terminology.
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Marshall
1 year ago
The Executor is responsible for carrying out the terms of the trust.
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Catherin
1 year ago
The Settlor is the one who establishes the trust.
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Ollie
1 year ago
Hmm, I'll go with C) Two, Executor. Feels like a trick question, but I'm feeling lucky today.
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Devorah
1 year ago
I think the answer is A. Two parties and the settlor makes sense to me.
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Rolland
1 year ago
I'm pretty sure it's B) Three, Settlor. Can't go wrong with the classic trust setup!
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Rene
1 year ago
I see, thanks for clarifying. I'll go with A) Two, Settlor then.
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Lenna
1 year ago
No, it's definitely A) Two, Settlor. The settlor plays a key role in setting up the trust.
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Frank
1 year ago
Oh really? I always thought it was B) Three, Settlor. Interesting.
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Janella
1 year ago
I think it's actually A) Two, Settlor. The settlor is the one who establishes the trust.
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Ronald
1 year ago
I agree with Odette. The settlor is crucial in setting up the trust.
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Odette
1 year ago
A trust involves two parties. Settlor is the person who establishes the trust.
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