1. CPA QUESTION: A personal representative of an estate would breach her fiduciary duties if she:
A. Combined personal funds with funds of the estate so that both could purchase Treasury bills
B. Represented the estate in a lawsuit brought against it by a disgruntled relative of the decedent
C. Distributed property in satisfaction of the decedent’s debts
D. Engaged a non-CPA to prepare the records for the estate’s final accounting

2. Hallie is telling her cousin Anne about the will she has just executed. “Because of my broken arm, I couldn’t sign my name, so I just told Bertrand, the lawyer, to sign it for me. Bertrand also witnessed the will.” Anne said, “You made a big mistake:
I. You should have at least made some sort of mark on the paper yourself.”
II. The lawyer is not permitted to witness the will.”
III. You did not have enough witnesses.”
Which of Anne’s statements is true?
A. I, II, and III
B. Neither I, II, nor III
C. Just I
D. Just II
E. Just III

3. Owen does not want to leave any money to his son, Kevin. What must he do to achieve this goal?
I. Nothing. If he dies without a will, Kevin will inherit nothing.
II. Make a will that leaves nothing to Kevin.
III. Leave Kevin $1 in his will.
A. I, II, or III
B. II or III
C. Just I
D. Just II
E. Just III

4. Lauren is a resident of Kansas who has signed a living will directing her husband to make medical decisions for her.
Now that she is dying of cancer and suffering terribly, she is begging her husband and her doctors to kill her. Which of the following statements is true?
I. If she goes into a coma, her husband has the right to direct her doctors to withhold treatment.
II. Her doctor has the right to give her an overdose of pills that will kill her.
III. Her husband has the right to give her an overdose of pills that will kill her.
A. I, II, and III
B. Neither I, II, nor III
C. Just I
D. Just II
E. Just III

5. Blake tells his client that there are five good reasons to set up a trust. Which of the following is not a good reason?
A. To pay his grandchildren’s college tuition if they go to the same college he attended
B. To save money, since a trust is cheaper than a will
C. To make sure the money is properly invested
D. To avoid probate
E. To safeguard his privacy