11. A trustee may make an unsecured personal loan with trust funds, as long as the trustee knows the recipient of the loan well, or has performed a credit check prior to lending the money.

True

False

12. A trustee may never liquidate the trust assets and terminate the trust for the benefit of needy beneficiaries, even with advance court permission.

True

False

13. A trustee who previously had business dealings with the settlor of the trust may continue to do business with the trust itself, so long as the terms are the same or similar to the terms of the business previously conducted with the settlor.

True

False

14. A trustee must keep detailed records of all trust transactions, even minor ones, and may be called before the court to account for the status of the trust.

True

False

15. A trustees powers may never be inferred, as they must arise directly from the express language of the trust instrument in order to be legally valid.

True

False