American College Exam HS330 Topic 3 Question 94 Discussion

Actual exam question for American College's HS330 exam

Question #: 94
Topic #: 3

[All HS330 Questions]

Which of the following statements concerning pooled-income funds is (are) correct?

1. A pooled income fund is similar to a mutual fund maintained by a qualified charity.

2. lt is an irrevocable arrangement in which the remainder interest passes to charity.

Al only

BII only

CBoth l and ll

DNeither l nor ll

Show Suggested Answer

Suggested Answer: D

by Kindra at Aug 04, 2024, 09:37 AM

Limited Time Offer

25%

Off

Get Premium HS330 Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel

Junita

1 months ago

C'mon, this is a no-brainer. Who doesn't know about pooled income funds and their charitable connections? This question is too easy!

upvoted 0 times

Yuette

2 days ago

User 1: I think the correct answer is C) Both l and ll.

upvoted 0 times

...

Lili

1 months ago

Pooled income funds? Sounds like a bunch of financial jargon to me. I'll just guess and hope for the best.

upvoted 0 times

Tuyet

10 days ago

User 3: I believe it's C) Both l and ll.

upvoted 0 times

...

Alaine

23 days ago

User 2: I'm going with B) II only.

upvoted 0 times

...

Latanya

24 days ago

User 1: I think it's A) l only.

upvoted 0 times

...

Valda

2 months ago

D. Neither statement is correct. Pooled income funds are nothing like mutual funds, and they're definitely not irrevocable. This exam is trying to trick us!

upvoted 0 times

...

Corazon

2 months ago

I'm not sure about this one. I know pooled income funds have something to do with charities, but I don't remember the details. Guess I'll have to review my notes.

upvoted 0 times

Skye

23 days ago

Lenna: So, the correct answer is both l and ll.

upvoted 0 times

...

Tequila

24 days ago

User 3: Yes, and statement ll is about the remainder interest going to charity.

upvoted 0 times

...

Lenna

1 months ago

User 2: So, that would be statement l.

upvoted 0 times

...

Princess

1 months ago

User 1: Pooled income funds are like mutual funds for charities.

upvoted 0 times

...

Novella

2 months ago

I think the answer is C. Both statements are correct. A pooled income fund is similar to a mutual fund, and it's an irrevocable arrangement where the remainder goes to charity.

upvoted 0 times