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IIA Exam IIA-CFSA Topic 5 Question 69 Discussion

Actual exam question for IIA's IIA-CFSA exam
Question #: 69
Topic #: 5
[All IIA-CFSA Questions]

The duties of a guardian in guardianship arrangements are similar to those of a trustee.

Specifically, the guardian is obligated to:

1) Protect and preserve the assets

2) Submit an inventory and appraisal to the court

3) Retain or divest assets

4) Use principal and income for the benefit of the ward

5) Submit an annual accounting to the court

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Suggested Answer: D

by Kati at Jan 12, 2025, 01:24 PM

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Alexia
3 months ago
Wait, did they say 'trustee'? I thought this was about being a guardian, not a financial advisor. I'm so confused, I'm just going to choose 'C' and hope for the best.
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Mitsue
1 months ago
User3: I agree, that's why submitting an inventory and appraisal is crucial.
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Elly
1 months ago
I think the answer might be 'B' - All of these duties apply to guardians.
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Val
1 months ago
User2: I think it's important to protect and preserve the assets for the ward.
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Paris
1 months ago
User1: Yeah, being a guardian involves managing assets too.
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Casie
2 months ago
Yes, they both have responsibilities to protect and preserve assets.
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Carissa
2 months ago
Trustees and guardians have similar duties in managing assets.
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Tracey
3 months ago
Alright, let's see... Protect, inventory, divest, and report back to the judge. Sounds like a guardian's got a full plate, but I'm up for the challenge!
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Solange
3 months ago
Ugh, this is like a maze of legalese. I'll just pick 'B' and hope the guardian doesn't mess up the annual accounting.
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Georgiana
28 days ago
User4: It's definitely a lot to keep track of in guardianship arrangements.
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Rosenda
1 months ago
User3: I hope the guardian knows what they're doing with the annual accounting.
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Danica
2 months ago
User2: Yeah, I think picking 'B' is a safe choice.
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Raymon
2 months ago
User1: I agree, all of these duties seem important.
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Filiberto
3 months ago
Whoa, this question is like a legal treasure hunt! I'm totally ready to dig into those guardian duties and show the court who's boss.
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Johana
2 months ago
B) All of these
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Ludivina
3 months ago
B) All of these
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Mabel
3 months ago
So, do you think the correct answer is B) All of these?
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Gertude
3 months ago
I agree, they also have to submit an inventory and appraisal to the court.
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Mabel
3 months ago
I think the duties of a guardian are important in protecting the assets.
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