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. What is the difference between a bare power and a fiduciary power?

With a bare power the appointor can choose any object he/she wants correct incorrect

With a bare power the appointor can decide not to appoint correct incorrect

With a bare power the appointor cannot choose to appoint to a non object correct incorrect

With a fiduciary power the appointor must carefully consider the choice of object correct incorrect

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. The difference between a fiduciary power and a discretionary trust is that…

In a fiduciary power the trustees need not consider whether they should exercise the power correct incorrect

In a fiduciary power the trustees can choose anyone that they want correct incorrect

In a fiduciary power the beneficiaries have no right to be chosen correct incorrect

In a fiduciary power the trust property does not belong to the beneficiaries correct incorrect

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. In order to declare a valid trust it is essential to…

Use the word 'trust' correct incorrect

Put the declaration in writing correct incorrect

Use imperative words correct incorrect

Impose a binding moral obligation upon the intended trustee correct incorrect

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. Why must a trust have certainty of objects?

So that the courts can enforce the trust correct incorrect

So that the trustees can list the beneficiaries correct incorrect

So that the relatives of the deceased know who can claim against the estate correct incorrect

So that the Attorney General can enforce the trust correct incorrect

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. Which of the following descriptions of property would not satisfy the certainty of subject matter test?

The bulk of my residuary estate correct incorrect

A reasonable income correct incorrect

5 per cent of the shares in my company correct incorrect

All of my real and personal property correct incorrect

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. Which of the following description of potential beneficiaries would fail the certainty of objects test?

Urgent suppliers correct incorrect

Friend or friends nominated by my wife correct incorrect

Carol and the kids correct incorrect

Relatives or dependents correct incorrect

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. The test for certainty of objects in a fixed trust is:

Evidential certainty correct incorrect

Ascertainability correct incorrect

Administrative workability correct incorrect

Exhaustive enumeration correct incorrect

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. The certainty of objects test in McPhail v Doulton [1971] AC 424, states that 'the trust is valid if it can be said with certainty that any given individual is or is not a member of the class'. This test means that the objects of a discretionary trust must be…

Evidentially certain correct incorrect

Ascertainable correct incorrect

Conceptually certain correct incorrect

Not so numerous that the trust is unworkable correct incorrect

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. A discretionary trust or fiduciary power can be ruled invalid if there are too many beneficiaries in the class. Which of the following descriptions of a class has been held invalid?

The residents of Greater London correct incorrect

The inhabitants of the County of West Yorkshire correct incorrect

Such person or persons as the trustees think fit correct incorrect

Any person or persons, corporation or corporations or charity or charities that the trustees think fit correct incorrect

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. What happens to the 'trust property' if a trust fails for lack of certainty of intention?

The property returns to the estate of the settlor or testator on a resulting trust correct incorrect

The 'trustee' can keep the property correct incorrect

The property is divided equally between the beneficiaries correct incorrect

The trustee holds the property on constructive trust correct incorrect