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Question 1

Which of the following cannot be a trustee?

a) A foreign national

b) A relative of the settlor or testator

c) A child

d) A company

Question 2

What is the maximum number of trustees that can be appointed?

a) Four

b) Two

c) Ten

d) There is no maximum number

Question 3

A judicial trustee is:

a) A trust corporation

b) A trust corporation A judge who takes over the running of the trust

c) A trustee appointed by the court

d) A government official who acts as trustee of small trusts

Question 4

How does a trustee disclaim their office?

a) By drawing up a deed

b) Doing as little as possible

c) Replacing themselves with another trustee

d) Leaving the country

Question 5

Which of the following persons does not have the power to appoint replacement trustees under section 36 of the Trustee Act 1925?

a) The settlor

b) Persons nominated in the trust instrument

c) The surviving or continuing trustees

d) The personal representatives of the last surviving trustee

Question 6

Which of the following would allow the removal of a trustee under section 36 of the Trustee Act 1925?

a) Charging excessively high fees

b) Allowing the trust fund to decline in value

c) Ignoring the wishes of the beneficiaries

d) Living outside the UK for two years

Question 7

The beneficiaries have the power to replace trustees under section 19 of the Trusts of Land and Appointment of Trustees Act 1996. Why is this power of limited use?

a) The trustees can refuse

b) A court order is needed

c) The power to remove is limited to very specific circumstances

d) All the beneficiaries must agree

Question 8

In Re Tempest (1865-66) LR 1 Ch App 485 the trustee was replaced because:

a) The beneficiaries wanted a different trustee

b) The testator wanted a different trustee

c) The trustee favoured one group of beneficiaries over another

d) His fellow trustee wanted a different trustee

Question 9

The court will remove a trustee if:

a) The trustee is in breach of trust

b) The trustee is incompetent

c) The welfare of the beneficiaries requires it

d) The trustee is in conflict with the other trustee(s)

Question 10

How should a trustee be replaced?

a) In writing

b) Orally

c) By deed

d) Approved by the court

Oxford University Press, Online Resource Centre, Chapter 06.

Chapter 06

Instructions