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

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Corazon

6 days 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.

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Novella

9 days 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.

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