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NEW QUESTION: 1
Which of the following statements regarding both a Uniform Gifts to Minors account (UGMA) and a Uniform Transfers to Minors account (UTMA) is false?
A. The assets must be re-registered in the minor child's name when the child turns 18.
B. The account must be established in the name of one minor child only.
C. There can be only one custodian named on the account.
D. Once established, the account is irrevocable.
Answer: A
Explanation:
Explanation/Reference:
Explanation: The false statement regarding both a UGMA and a UTMA is that the assets must be re- registered in the minor child's name when the child turns 18. The rule differs between the two types of accounts. The UGMA requires that the assets must be re-registered when the child reaches the "age of majority," as defined by the state, and the definition differs among states. Under the UTMA, the transfer of the account can be delayed until the minor child has reached the age of 25.
NEW QUESTION: 2
Use the drop-down menus to select the answer choice that complete each statement based on the information presented in the Exchange Online Connector exhibit.
NOTE: Each correct selection is worth one point.
Answer:
Explanation:
NEW QUESTION: 3
What is the minimum certainty factor when creating a profiler policy?
A. the maximum number that a device certainty factor must reach to become a member of the profile
B. the maximum number that a predefined condition provides
C. the minimum number that a device certainty factor must reach to become a member of the profile
D. the minimum number that a predefined condition provides
Answer: B
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DY0-001 Exam Topics
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