American College Exam HS330 Topic 3 Question 94 Discussion

Actual exam question for American College's HS330 exam

Question #: 94
Topic #: 3

[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.

Al only

BII only

CBoth l and ll

DNeither l nor ll

Show Suggested Answer

Suggested Answer: D

by Kindra at Aug 04, 2024, 09:37 AM

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Novella

4 hours ago

I think the answer is C. Both statements are correct. A pooled income fund is similar to a mutual fund, and it's an irrevocable arrangement where the remainder goes to charity.

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Junita

1 days ago

I'm not sure about this one. I think I need to review the material again before making a decision.

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Iraida

9 days ago

I agree with Tasia. Pooled income funds are maintained by charities and the remainder interest goes to charity.

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Tasia

10 days ago

I think the correct answer is C) Both l and ll.

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