Your client has an estate valued at $3 million. Two months ago, his wife died. He and his deceased wife did not have any children together, but she had two children from a prior marriage. His will,drafted in 2007, leaves everything to his wife. No contingent beneficiary is named in the will, and it does not contain a residuary clause. Included in the client’s estate are real estate holdings in three other states. He wants to retain lifetime ownership of these properties because of the income they provide him. He would like the real estate holdings to pass to his wife’s children in equal shares upon his death. He would like the remainder of his estate to go to his brother. Which of the following are serious estate planning pitfalls that can be avoided if your client amends his will to carry out his objectives? I. Having the estate pass under the laws of intestacyII. Having the estate assets distributed through probateIII. Having the estate pay any estate taxIV. Having part of the estate pass to unintended beneficiaries

Which of the following is the best description of an exclusion?

Several years ago, Greener Grass Company implemented a traditional defined benefit plan. According to the plan document, the employer must contribute an annual amount that will provide the employees with a specified benefit at retirement. Which of the following events would be expected to decrease the employer’s annual contribution to a traditional defined benefit pension plan using a percentage for each year of service benefit formula? I. Inflation is higher than expected.II. Benefits are cost of living adjusted.III. Forfeitures are higher than anticipated.IV. The investment returns of the plan are greater than expected.

Jackie is considering purchasing an exchange-traded fund (ETF) to further diversify her portfolio. Which of the following is a reason for Jackie to purchase this investment?

Which of these is a function that a portfolio manager should be able to perform?

Which of these is a function that a portfolio manager should be able to perform?

Which of the following are advantages of a private placement to the issuing firm?

Investors with large amounts of money to invest in CDs should purchase multiple certificates with varying terms to maturity. This process is correctly described as

Which one of the following is an important reason for establishing an unfunded nonqualified excess benefit plan?

Harriet recently purchased 100 shares of ABC preferred stock, paying a 4% dividend. Which of the following statements is CORRECT?