The most frequent penalty for deviating too far from group norms is
a. ostracism from the group.
b. formal reprimands from supervisors.
c. being told to mind your own business.
d. being transferred out of the group.
a
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The effect of a hold-harmless clause is that it
A. warrants that the property presents no risks. B. indicates the property is to be sold "as is." C. means the owner agrees to indemnify the agent for losses suffered because of the owner's failure to disclose or the owner's incorrect disclosure. D. does none of these.
All of the following statements about trusts are true except
A. The income distributed to the beneficiary retains the same character as that earned by the trust. B. The net distributable income of a simple trust excludes capital gains distributions that are allocable to corpus under the terms of the governing instrument and applicable local law. C. The income distribution deduction is the greater of distributable net income or net accounting income. D. All of the taxable income that is not taxed to the beneficiaries is taxed to the trust.