2026 FNSACC601 Quiz 2 – Trusts scored 93.55 out of
100.0 with correction (Prepare and administer tax
documentation for legal entities) Monarch Institute
HOLIDAY NOTICE: LIMITED SUPPORT (20 DEC – 4
JAN)
Please be advised that from Saturday 20th December to Sunday 4th January, Trainer
and Student Services availability will be limited.
Please allow extra time for responses. Thank you and enjoy the break!
Started on Friday, 2 January 2026, 11:28 PM
State Finished
Completed on Friday, 2 January 2026, 11:39 PM
Time taken 10 mins 52 secs
Marks 29.00/31.00
Grade 93.55 out of 100.00
Feedback Sensational! - You have shown an indepth understanding of this
material, and have achieved an excellent result. Well done.
Question 1
Which of the following is not an example of a trust?
Correct
Select one:
Mark 1.00 out of
1.00 a. A superannuation fund
b. None of the answers are correct
c. Shares and real estate held jointly by a husband and wife
d. Property of a deceased taxpayer held on behalf of the
beneficiaries
e. A bank account held on behalf of a child
, Question 2
Which of the following is true of beneficiaries?
Correct
Select one:
Mark 1.00 out of
1.00 a. They are liable for all taxes of the trust
b. They must be persons
c. They are entitled to benefit from the trust property
d. None of the answers are correct
e. They are deemed to be a resident for tax purposes
Question 3
Which of the following beneficiaries is not under a legal disability?
Correct
Select one:
Mark 1.00 out of
1.00 a. A 19 year-old engaged in fulltime study
b. A beneficiary who is certified insane
c. An undischarged bankrupt
d. None of the answers are correct
e. A 17 year-old engaged in fulltime employment
Question 4
Which of the following is not an example of an inter vivos trust?
Correct
Select one:
Mark 1.00 out of
1.00 a. A unit trust
b. A deceased estate
c. A service trust created to operate a professional practice
d. A discretionary trust holding investments on behalf of a family
e. None of the answers are correct
100.0 with correction (Prepare and administer tax
documentation for legal entities) Monarch Institute
HOLIDAY NOTICE: LIMITED SUPPORT (20 DEC – 4
JAN)
Please be advised that from Saturday 20th December to Sunday 4th January, Trainer
and Student Services availability will be limited.
Please allow extra time for responses. Thank you and enjoy the break!
Started on Friday, 2 January 2026, 11:28 PM
State Finished
Completed on Friday, 2 January 2026, 11:39 PM
Time taken 10 mins 52 secs
Marks 29.00/31.00
Grade 93.55 out of 100.00
Feedback Sensational! - You have shown an indepth understanding of this
material, and have achieved an excellent result. Well done.
Question 1
Which of the following is not an example of a trust?
Correct
Select one:
Mark 1.00 out of
1.00 a. A superannuation fund
b. None of the answers are correct
c. Shares and real estate held jointly by a husband and wife
d. Property of a deceased taxpayer held on behalf of the
beneficiaries
e. A bank account held on behalf of a child
, Question 2
Which of the following is true of beneficiaries?
Correct
Select one:
Mark 1.00 out of
1.00 a. They are liable for all taxes of the trust
b. They must be persons
c. They are entitled to benefit from the trust property
d. None of the answers are correct
e. They are deemed to be a resident for tax purposes
Question 3
Which of the following beneficiaries is not under a legal disability?
Correct
Select one:
Mark 1.00 out of
1.00 a. A 19 year-old engaged in fulltime study
b. A beneficiary who is certified insane
c. An undischarged bankrupt
d. None of the answers are correct
e. A 17 year-old engaged in fulltime employment
Question 4
Which of the following is not an example of an inter vivos trust?
Correct
Select one:
Mark 1.00 out of
1.00 a. A unit trust
b. A deceased estate
c. A service trust created to operate a professional practice
d. A discretionary trust holding investments on behalf of a family
e. None of the answers are correct
