IIA Exam IIA-CFSA Topic 10 Question 45 Discussion

Actual exam question for IIA's IIA-CFSA exam

Question #: 45
Topic #: 10

[All IIA-CFSA Questions]

Relief from administrative details and continuity are the major reasons for:

ATrust acceptance

BTrustee termination

CNaming a financial institution as a trustee

DConvenience and complete services of trusts

Show Suggested Answer

Suggested Answer: D

by Chantell at Feb 10, 2024, 12:01 PM

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Tori

2 months ago

Ah, the age-old question of trustee selection. Just don't ask my uncle about his experience with that - he's still recovering from the time he made his cat the trustee. *rolls eyes*

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Johnna

28 days ago

Definitely! Convenience and complete services of trusts are important for peace of mind.

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Shawna

1 months ago

I know, right? Naming a financial institution as a trustee seems like a much safer option.

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Evette

1 months ago

That's hilarious! I can't imagine having a cat as a trustee.

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Xenia

3 months ago

Hmm, I'm not so sure. Maybe I should have read the trust section of my study guide more closely. *nervously chuckles*

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Kyoko

2 months ago

D) Convenience and complete services of trusts

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Ming

2 months ago

C) Naming a financial institution as a trustee

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Jules

2 months ago

A) Trust acceptance

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Dean

3 months ago

I agree with Sheridan. Trusts can be a great way to outsource the hassle of managing assets and ensure they are handled properly even after you're gone.

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Dianne

2 months ago

Yes, naming a financial institution as a trustee can help ensure continuity and convenience.

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Lorean

3 months ago

Trusts can definitely provide relief from administrative details.

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Colette

3 months ago

I believe trustee termination is not a major reason for naming a financial institution as a trustee. It's more about convenience and trust acceptance.

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The correct answer is C) Naming a financial institution as a trustee. Trusts provide relief from administrative details and ensure continuity of management, which are major benefits of using a professional trustee.

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Bernardo

2 months ago

Trustee termination is not as important as having a trustee that can provide relief from administrative details and ensure continuity.

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Janessa

2 months ago

I agree. Trust acceptance is important, but having a professional trustee can help ensure that the trust is managed properly.

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Dianne

3 months ago

Yes, that's correct. Trusts provide convenience and complete services, which is why many people choose to use a professional trustee.

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Thurman

3 months ago

I think the major reasons for naming a financial institution as a trustee are relief from administrative details and continuity.

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Cecily

4 months ago

I agree with Jody. Trust acceptance and convenience of complete services are also important factors to consider.

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Jody

4 months ago

I think the major reasons for naming a financial institution as a trustee are relief from administrative details and continuity.

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