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Fiduciary License AZ Latest Actual Verified Exam And
Practice Exam With Complete 150 Questions And
Correct Detailed Answers|| Newest Exam!!!
During the liquidation of assets, a personal representative
places a classified ad in a local newspaper to sell the
jewelry of a decedent. The personal representative's
daughter-in-law responds to the ad with the intent to
purchase the jewelry. How should the fiduciary handle this
situation? - Answer-A. Decline to sell the jewelry to the
daughter-in-law under any circumstances
B. Suggest the daughter-in-law have a friend purchase the
jewelry for her
C. Wait to see if other interested buyers come forward
and, if not, sell the jewelry
to the daughter-in-law
D. Have the jewelry appraised by an independent
appraiser and sell the jewelry to
the daughter-in-law for the appraised value
(Correct A)
When must you notify division staff of a misdemeanor or
felony conviction? - Answer-A certificate holder shall notify
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division staff within ten days of a misdemeanor or felony
conviction.
Change of Name or Address Notification - Answer-A
certificate holder shall notify division staff of any change in
name or business, directory, mailing or home address,
telephone number or email address within 30 days of any
change, pursuant to the applicable sections of the ACJA.
The certificate holder shall make this notice in writing by
U.S. Post, facsimile or email.
Conservator - Answer-a person who is appointed by a
court to manage the estate of a protected person" as
provided in A.R.S. § 14-1201(8)
Within how many days is a certificate holder required to
notify division staff of a felony conviction? - Answer-10
days
A fiduciary was recently appointed as the guardian for a
10-year-old child who has been diagnosed as autistic. The
client was institutionalized at age three and now resides in
a state facility. The child shows no ability to express his
thoughts and displays little emotion most of the time. What
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standard should a fiduciary use in making decisions for the
client? - Answer-Best Interests
An adult daughter has been residing with her father for the
past 11 months. The adult daughter coordinated medical
care after her father was diagnosed with cancer. She paid
his bills by preparing checks for his signature. A fiduciary
was appointed and subsequently discovered the daughter
used her father's funds to purchase a new vehicle titled
solely in her name. What is the fiduciary's responsibility in
this case? - Answer-A. Seek a restraining order against
the daughter to prevent her from visiting her father
B. File a petition with the Attorney General and request
prosecution of the daughter C. Have the daughter
declared exempt from inheritance under her father's will
D. Seek recovery and, if necessary, file an action in
Superior Court
(Correct D)
Department Director - Answer-Individual appointed by the
governor of Arizona as provided in A.R.S. § 41-604, to
administer the Arizona Department of Veterans' Services
Fiduciary License AZ Latest Actual Verified Exam And
Practice Exam With Complete 150 Questions And
Correct Detailed Answers|| Newest Exam!!!
During the liquidation of assets, a personal representative
places a classified ad in a local newspaper to sell the
jewelry of a decedent. The personal representative's
daughter-in-law responds to the ad with the intent to
purchase the jewelry. How should the fiduciary handle this
situation? - Answer-A. Decline to sell the jewelry to the
daughter-in-law under any circumstances
B. Suggest the daughter-in-law have a friend purchase the
jewelry for her
C. Wait to see if other interested buyers come forward
and, if not, sell the jewelry
to the daughter-in-law
D. Have the jewelry appraised by an independent
appraiser and sell the jewelry to
the daughter-in-law for the appraised value
(Correct A)
When must you notify division staff of a misdemeanor or
felony conviction? - Answer-A certificate holder shall notify
,2|Page
division staff within ten days of a misdemeanor or felony
conviction.
Change of Name or Address Notification - Answer-A
certificate holder shall notify division staff of any change in
name or business, directory, mailing or home address,
telephone number or email address within 30 days of any
change, pursuant to the applicable sections of the ACJA.
The certificate holder shall make this notice in writing by
U.S. Post, facsimile or email.
Conservator - Answer-a person who is appointed by a
court to manage the estate of a protected person" as
provided in A.R.S. § 14-1201(8)
Within how many days is a certificate holder required to
notify division staff of a felony conviction? - Answer-10
days
A fiduciary was recently appointed as the guardian for a
10-year-old child who has been diagnosed as autistic. The
client was institutionalized at age three and now resides in
a state facility. The child shows no ability to express his
thoughts and displays little emotion most of the time. What
, 3|Page
standard should a fiduciary use in making decisions for the
client? - Answer-Best Interests
An adult daughter has been residing with her father for the
past 11 months. The adult daughter coordinated medical
care after her father was diagnosed with cancer. She paid
his bills by preparing checks for his signature. A fiduciary
was appointed and subsequently discovered the daughter
used her father's funds to purchase a new vehicle titled
solely in her name. What is the fiduciary's responsibility in
this case? - Answer-A. Seek a restraining order against
the daughter to prevent her from visiting her father
B. File a petition with the Attorney General and request
prosecution of the daughter C. Have the daughter
declared exempt from inheritance under her father's will
D. Seek recovery and, if necessary, file an action in
Superior Court
(Correct D)
Department Director - Answer-Individual appointed by the
governor of Arizona as provided in A.R.S. § 41-604, to
administer the Arizona Department of Veterans' Services
