Which judicial remedy can a beneficiary use to be compensated monetarily (either directly or through the trust) for a trustees breach of trust?

Question 1 options:

	Civil lawsuit to compel the trustee to reimburse the trust for any loss or depreciation in value of the trust property
	Removal of the trustee and appointment of a new trustee
	An injunction to compel the trustee to do or refrain from doing the act that would constitute the breach of trust
	Suing for specific performance

Question 2 (2 points)

Which is NOT considered valid grounds for the removal of a trustee?

Question 2 options:

	Lack of capacity
	Resignation of the trustee
	Commission of a crime
	Showing favoritism to one or more beneficiaries

Question 3 (2 points)

The court may appoint or replace a trustee in all of the following circumstances EXCEPT:

Question 3 options:

	The trustee is incompetent
	The named trustee declines the position.
	The trustee dies.
	The named trustee is also a co-beneficiary.

Question 4 (2 points)

Which of the following is NOT an essential element of a trust?

Question 4 options:

	A sale or gift of property
	One or more beneficiaries
	Real or personal property
	One or more trustees

Question 5 (2 points)

Which duty prohibits a trustee from personally profiting from his/her position as trustee (other than the compensation allowed by contract or law)?

Question 5 options:

	Duty to take possession of and preserve trust property
	Duty of loyalty
	Duty to prevent the investment of the trust property
	Duty to make payments of income and principal to the named beneficiaries

Question 6 (2 points)

Which of the following is a type of implied trust?

Question 6 options:

	Testamentary trust
	Private trust
	Active trust
	Constructive trust

Question 7 (2 points)

Which is NOT a subcategory of express trusts?

Question 7 options:

	Inter vivos or testamentary trusts
	Private or public trusts
	Active or passive trusts
	Implied or nonimplied trusts

Question 8 (2 points)

Which is NOT a type of resulting trust?

Question 8 options:

	Failed trust
	Purchase-money resulting trust
	Implied trust
	Excessive endowment trust

Question 9 (2 points)

Which function CANNOT be performed by a pour-over will?

Question 9 options:

	It can allow the testator to name a personal guardian for minor children.
	It can dispose of property that the testator neglected to add to the trust before death.
	It can dispose of property acquired by the testator through gifts, inheritance, or good fortune shortly before death.
	It can be used independently as a substitute for a will.

Question 10 (2 points)

Which is NOT an advantage of using a revocable living trust as a substitute for a will?

Question 10 options:

	The need for court-appointed guardians for minors is eliminated.
	Publicity is avoided.
	The settlor maintains ownership of assets.
	A living trust is not under the control or supervision of the probate court.