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American College HS330 Exam - Topic 1 Question 120 Discussion

Which of the following statements concerning pooled-income funds is (are) correct?1. A pooled income fund is similar to a mutual fund maintained by a qualified charity.2. lt is an irrevocable arrangement in which the remainder interest passes to charity.
C) Both l and ll
A) l only
B) II only
D) Neither l nor ll

American College HS330 Exam - Topic 1 Question 120 Discussion

Actual exam question for American College's HS330 exam
Question #: 120
Topic #: 1
[All HS330 Questions]

Which of the following statements concerning pooled-income funds is (are) correct?

1. A pooled income fund is similar to a mutual fund maintained by a qualified charity.

2. lt is an irrevocable arrangement in which the remainder interest passes to charity.

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Suggested Answer: C

by Peggie at Jan 05, 2026, 05:16 AM

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Truman
2 months ago
I’m not sure about I. Maybe D is the answer?
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Davida
2 months ago
Statement II is definitely true, so I lean towards C too.
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Izetta
3 months ago
I agree, pooled income funds are like mutual funds for charities.
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Lourdes
3 months ago
I think both statements are correct. C sounds right.
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Una
3 months ago
Nope, I think only statement II is true.
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Mee
3 months ago
I thought pooled income funds were just for wealthy donors.
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Carmelina
3 months ago
Wait, is it really irrevocable? That seems risky.
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Coral
3 months ago
Definitely agree, it's like a mutual fund for charity.
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Hershel
4 months ago
I think both statements are correct!
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Ira
4 months ago
Irrevocable arrangements and charities - sounds like a solid investment opportunity.
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William
4 months ago
Haha, I bet the exam writers had fun coming up with these answer choices.
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Youlanda
5 months ago
Pooled-income funds are like mutual funds for charities. Easy to understand.
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Dana
5 months ago
I agree, this is a straightforward question. Option C is the right answer.
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Chaya
5 months ago
Both statements are correct. This is a good question.
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Xochitl
5 months ago
I practiced a similar question last week, and I think both statements are correct, so I would lean towards option C.
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Lanie
5 months ago
I feel confused about this one. I thought both statements were true, but now I'm second-guessing myself.
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Cecily
5 months ago
I remember discussing that pooled income funds are indeed irrevocable, so statement 2 seems right to me.
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Catina
6 months ago
I think statement 1 is correct because pooled income funds do operate like mutual funds, but I'm not entirely sure about the specifics.
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Goldie
6 months ago
I feel pretty confident about this one. Pooled-income funds are charitable arrangements, so statement II about the remainder interest passing to charity is definitely correct. I'll go with C) Both I and II.
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Howard
6 months ago
Wait, is it an irrevocable arrangement? I'm not totally sure about that. I better double-check the details before answering.
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Charlena
6 months ago
Okay, I think I've got this. A pooled-income fund is similar to a mutual fund, but with the remainder interest going to charity. I'll select C) Both I and II.
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Merilyn
6 months ago
Hmm, I'm a bit unsure about the differences between pooled-income funds and mutual funds. I'll need to make sure I understand the key characteristics of each.
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Annmarie
7 months ago
This seems like a straightforward question about pooled-income funds. I'll need to carefully review the details of how these funds work to determine which statements are correct.
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Tuyet
10 days ago
But what about statement 2? Is it really irrevocable?
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Fausto
16 days ago
Yeah, pooled income funds do act like mutual funds for charities.
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Joanna
2 months ago
I think statement 1 is definitely true.
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