Cannon Financial Institute CFIRs ACTAUL TEST BANK EXAM 2026 -2027\
NEWEST VERSION A & B WITH COMPLETE QUESTIONS AND CORRECT
DETAILED ANSWERS\ VERIFIED 100% \ALREDAY GRADED A+ |ACTUAL
TEST BANK EXAM
"A type of a power of attorney which survives even though the principal may become
incapacitated is:
a. Common law power of attorney.
b. Civil law power of attorney.
c. Durable power of attorney.
d. Uniform power of attorney. "
C
"The following property is NOT included in the gross estate of a decedent:
a. Life insurance transferred within 3 years prior to the date of a death.
b. An irrevocable trust established by the decedent in which all income is retained for
life.
c. A $24,800 gift in fee simple using both spouse's annual gift tax exclusion.
d. Funds in a qualified retirement plan of the decedent with a named beneficiary. "
C
,""When funds are deposited to the trust, the beneficiaries are to be notified of their right
to withdraw the contribution for a period of 30 days. If they do not request a withdrawal
in writing within 30 days of their notification, their power to withdraw lapses and the
trustee may invest the funds as they see fit." This is an example of a:
a. Spendthrift provision.
b. Limited power of appointment.
c. Crummey power.
d. Five by five power.
"
C
"In securities lending, the securities should be marked to market:
a. Only at inception of the loan.
b. Daily.
c. Weekly.
d. As deemed appropriate by the agent bank. "
B
,"In security lending, the investment of cash collateral is the responsibility of the:
a. Borrower.
b. Lender.
c. Agent bank.
d. Broker-dealer.
"
C
"A lender institution offering customer securities on an undisclosed basis is considered:
a. The principal.
b. The agent.
c. The sub-agent.
d. The trustee.
"
A
, "On domestic security loans, the margin requirement is generally:
a. 98%
b. 100%
c. 102%
d. 105%
"
C
"The asset allocation process leads to a portfolio that:
a. Maximizes investor return for a given level of risk.
b. Maximizes expected return versus all other portfolios.
c. Maximizes risk versus all other portfolios.
d. Balances the equity-fixed income mix equally. "
A
NEWEST VERSION A & B WITH COMPLETE QUESTIONS AND CORRECT
DETAILED ANSWERS\ VERIFIED 100% \ALREDAY GRADED A+ |ACTUAL
TEST BANK EXAM
"A type of a power of attorney which survives even though the principal may become
incapacitated is:
a. Common law power of attorney.
b. Civil law power of attorney.
c. Durable power of attorney.
d. Uniform power of attorney. "
C
"The following property is NOT included in the gross estate of a decedent:
a. Life insurance transferred within 3 years prior to the date of a death.
b. An irrevocable trust established by the decedent in which all income is retained for
life.
c. A $24,800 gift in fee simple using both spouse's annual gift tax exclusion.
d. Funds in a qualified retirement plan of the decedent with a named beneficiary. "
C
,""When funds are deposited to the trust, the beneficiaries are to be notified of their right
to withdraw the contribution for a period of 30 days. If they do not request a withdrawal
in writing within 30 days of their notification, their power to withdraw lapses and the
trustee may invest the funds as they see fit." This is an example of a:
a. Spendthrift provision.
b. Limited power of appointment.
c. Crummey power.
d. Five by five power.
"
C
"In securities lending, the securities should be marked to market:
a. Only at inception of the loan.
b. Daily.
c. Weekly.
d. As deemed appropriate by the agent bank. "
B
,"In security lending, the investment of cash collateral is the responsibility of the:
a. Borrower.
b. Lender.
c. Agent bank.
d. Broker-dealer.
"
C
"A lender institution offering customer securities on an undisclosed basis is considered:
a. The principal.
b. The agent.
c. The sub-agent.
d. The trustee.
"
A
, "On domestic security loans, the margin requirement is generally:
a. 98%
b. 100%
c. 102%
d. 105%
"
C
"The asset allocation process leads to a portfolio that:
a. Maximizes investor return for a given level of risk.
b. Maximizes expected return versus all other portfolios.
c. Maximizes risk versus all other portfolios.
d. Balances the equity-fixed income mix equally. "
A
