American College HS330 Exam - Topic 1 Question 76 Discussion

Actual exam question for American College's HS330 exam

Question #: 76
Topic #: 1

[All HS330 Questions]

All the following statements concerning a power of appointment are correct EXCEPT:

AThe appointee of a power of appointment is the party who exercises the power.

BThe donee of a power of appointment might be restricted with respect to the time the power can be exercised.

CFailure to exercise a power of appointment is known as a lapse of the power.

DThe possible recipients of property after the exercise of a power of appointment depend on the terms of the power.

Show Suggested Answer

Suggested Answer: B

by Carey at Oct 18, 2023, 02:20 AM

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Mattie

6 days ago

Totally agree, C is misleading.

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Sabrina

12 days ago

A is true, the appointee does exercise the power.

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Leota

18 days ago

I feel confident that D is true since the terms of the power definitely dictate who can receive the property.

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Wai

23 days ago

I practiced a similar question where the donee had restrictions on exercising the power, so B seems correct to me.

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Reid

29 days ago

I think option C sounds familiar, but I also recall that lapse usually refers to something else in estate planning.

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Phil

1 month ago

I remember discussing the definitions of appointee and donee in class, but I'm not sure if "lapse" is the right term for failing to exercise a power.

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Okay, I remember learning about powers of appointment in class. I'm going to use the process of elimination to narrow down the options and select the one that is the exception to the statements provided.

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Gilma

1 month ago

Hmm, I'm a little unsure about the nuances of powers of appointment. I'll need to think through each statement carefully to identify the one that is not correct.

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France

1 month ago

The wording of the question is a bit tricky, but I think I've got a good handle on the basics of powers of appointment. I'll carefully review each option to determine which one is incorrect.

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Krystina

1 month ago

This question seems straightforward, but I want to make sure I understand the key concepts around powers of appointment before selecting an answer.

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Laurel

1 month ago

This is a good test of my understanding of powers of appointment. I'll draw on the key principles I've learned to confidently choose the option that is not correct.

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Minna

1 month ago

Hmm, this looks like a tricky one. I'll need to carefully analyze the information provided in the image to determine the delinquent rate.

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Mable

2 months ago

Okay, I've got this one. The suppliers would definitely be the stakeholder that could provide the most information on technical constraints. They're the ones who know the ins and outs of the products and services that could be implemented, so they'd be the best source for that kind of technical insight.

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Lashawna

2 months ago

Hmm, I'm a bit unsure about this one. Handling conflicts between stakeholders can be tricky, and I'm not sure if just resolving the conflict is the best approach. I'll need to think this through carefully.

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Lina

2 months ago

I'm pretty sure it's about being more flexible and efficient. Option B looks right because a risk-based approach lets institutions customize their compliance strategies.

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Daniela

6 months ago

Wait, so who's the 'donee' and who's the 'appointee'? I thought this was a power of attorney, not a power Rangers episode!

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Adelle

5 months ago

C) Failure to exercise a power of appointment is known as a lapse of the power.

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Pete

5 months ago

B) The donee of a power of appointment might be restricted with respect to the time the power can be exercised.

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Chi

5 months ago

C) Failure to exercise a power of appointment is known as a lapse of the power.

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Candida

5 months ago

B) The donee of a power of appointment might be restricted with respect to the time the power can be exercised.

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Paris

6 months ago

A) The appointee of a power of appointment is the party who exercises the power.

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Glendora

6 months ago

A) The appointee of a power of appointment is the party who exercises the power.

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Britt

7 months ago

Ugh, legal terminology can be such a headache. But D seems like the most comprehensive option, so that's gotta be the correct answer.

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Tonette

7 months ago

Haha, 'lapse of the power'? That sounds like a medical condition. But C is definitely the right answer. Can't mess that one up!

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Desmond

5 months ago

D) The possible recipients of property after the exercise of a power of appointment depend on the terms of the power.

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Carman

5 months ago

C) Failure to exercise a power of appointment is known as a lapse of the power.

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Vi

6 months ago

B) The donee of a power of appointment might be restricted with respect to the time the power can be exercised.

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Salina

6 months ago

A) The appointee of a power of appointment is the party who exercises the power.

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Naomi

7 months ago

I'm not sure, but I think D) The possible recipients of property after the exercise of a power of appointment depend on the terms of the power, could also be incorrect.

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