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PF 7.00 - Giving

Test Description: Giving

Instructions: Answer all questions to get your test result.

1) Advocacy is

AThe act or process of writing or speaking out in favor of or about a cause BWhen someone is investigated by the Internal Revenue Service (IRS) CA wish list developed by non‐profit organizations DA situation in which two people argue against a policy

2) Healthy giving occurs when:

AOccurs when the well‐being of only the receiver is affected BSomeone decides to write a check for another CAn individual wants to give back and the result is positive emotions for both the giver and receiver DSomeone with limited resources gives all they have to make another happy

3) If the resulted emotion of giving includes resentment, guilt or anger the giving would be considered

ASelfish BPassive CUnhealthy DEgotistical

4) Planned giving can occur through:

APaycheck deductions for retirement accounts BBuying Girl Scout Cookies on your way out of the grocery store CEstate planning activities DPulling over to help someone with car trouble

5) What is the most appropriate type of giving at the following life cycle stages?

AA grandparent “gifts” a plot of land to a hospital in the name of their grandchild BSchool children host a book fair and donate sales to the March of Dimes CA CEO of a company suggests that his employees “go paperless” and not print out quarterly reports DAll of these qualify as appropriate types of giving during the life cycle stages

6) Which of the following is not considered a form of giving?

ASpending an afternoon cleaning up an abandoned park in your hometown BDonating material goods to a campaign CReading about the storm victims of Hurricane Katrina DA monetary donation to a charitable cause

7) Caitlyn’s parents were rushing off to a meeting to get some help planning their estate. When Caitlyn asked who they were meeting with, her parents likely told her they were going to the office of: (

AAny of these BAn Accountant Ca Certified Financial Planner DAn Attorney

8) Which of the following is NOT considered a positive outcome of estate planning?

AAbility to leave a legacy with gifts to others including family, organizations, or institutions BAbility to decrease time, effort and dollar costs incurred by survivors CAbility to increase time, effort and dollar costs incurred by survivors DAbility to provide for loved ones after you are gone

9) Which of the following is NOT considered part of the steps of Estate Planning?

AGoal setting BSelling off assets CFamily information DLegal and tax analysis

10) Which of the following questions does NOT represent a topic teens should ask parents and guardians about Estate Planning?

AHow much money do you have in your checking account? BHave you written a will? Is it recorded? CWho would take care of me if something happened to you? DDo you have a life insurance policy?

11) Which of the following statements would be true in most states:

ATeens under the age of 18 may be named an executor of a will BTeens under the age of 18 may not accompany their parent/guardian to an attorney’s office CTeens under the age of 18 may write their own will but it may not be a legal document DTeens under the age of 18 may not write their own will

*select an answer for all questions

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