AAFM Exam CTEP Topic 2 Question 59 Discussion

Actual exam question for AAFM's CTEP exam

Question #: 59
Topic #: 2

[All CTEP Questions]

A trust involves_______ parties. ___________ is the person who establishes the trust.

ATwo, Settlor

BThree, Settlor

CTwo, Executor

DThree, Executor

Show Suggested Answer

Suggested Answer: B

by Desirae at Jan 27, 2025, 01:50 PM

Limited Time Offer

25%

Off

Get Premium CTEP Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel

Una

2 months ago

As a future trust fund baby, I'm offended by that last comment. But I'll have my butler look up the right answer for me.

upvoted 0 times

Robt

5 days ago

That's correct. The Settlor is the person who establishes the trust.

upvoted 0 times

...

Marshall

6 days ago

I think it's A) Two, Settlor.

upvoted 0 times

...

Lorean

18 days ago

A) Two, Settlor

upvoted 0 times

...

Tomas

2 months ago

A) Two, Settlor? That's easy, even a trust fund baby could get this one right.

upvoted 0 times

Billy

13 days ago

C) Two, Executor

upvoted 0 times

...

Lai

21 days ago

A) Two, Settlor? That's easy, even a trust fund baby could get this one right.

upvoted 0 times

...

Luisa

1 months ago

B) Three, Settlor

upvoted 0 times

...

Paris

2 months ago

A) Two, Settlor

upvoted 0 times

...

Shannan

2 months ago

Hold up, I thought the Executor was the one who settles the trust? Guess I need to brush up on my legal terminology.

upvoted 0 times

Marshall

1 months ago

The Executor is responsible for carrying out the terms of the trust.

upvoted 0 times

...

Catherin

1 months ago

The Settlor is the one who establishes the trust.

upvoted 0 times

...

Ollie

2 months ago

Hmm, I'll go with C) Two, Executor. Feels like a trick question, but I'm feeling lucky today.

upvoted 0 times

...

Devorah

2 months ago

I think the answer is A. Two parties and the settlor makes sense to me.

upvoted 0 times

...

Rolland

2 months ago

I'm pretty sure it's B) Three, Settlor. Can't go wrong with the classic trust setup!

upvoted 0 times

Rene

27 days ago

I see, thanks for clarifying. I'll go with A) Two, Settlor then.

upvoted 0 times

...

Lenna

1 months ago

No, it's definitely A) Two, Settlor. The settlor plays a key role in setting up the trust.

upvoted 0 times

...

Frank

2 months ago

Oh really? I always thought it was B) Three, Settlor. Interesting.

upvoted 0 times

...

Janella

2 months ago

I think it's actually A) Two, Settlor. The settlor is the one who establishes the trust.

upvoted 0 times

...

Ronald

3 months ago

I agree with Odette. The settlor is crucial in setting up the trust.

upvoted 0 times

...

Odette

3 months ago

A trust involves two parties. Settlor is the person who establishes the trust.

upvoted 0 times

...