Classic Classic Quiz Trustees Duty of Investment by Diamondsareforever Diamondsareforever 5 played - 11 yrs ago A quiz about English law relating to the trustees duty of investment QUIZ 17 QUESTIONS hard English 1 What is a fund? Body of assets where simple specific assets can changeThe difference between risk and returnSignificance of inflation and economic growthPeriod of which trustees hold assets for which they are responsibleTransfer of property for trustee to old and dispose of later 2 Which of these is not a form of investment? Bank accountKeeping cash in a safety deposit boxPropertySharesGILT 3 Which of these is not a form of capital? GoldShort lease propertyPaintingsWineWhisky 4 Which of these is not a form of debt investment? BankGILTGoldDebenture 5 Which of these is a form of equity investment? BankGILTDebentureBuy shares in companyGold 6 Which of these is not an advantage of debt investment? Capital increase with inflationSecure right to incomeSecure capital 7 What method was created under The Trustee Investment Act 1961? Duty of careLegal list methodDuty of prudenceInflation methodMixed trust method 8 What did inflation reach in the 1970's? 19%27%70%90%61% 9 What amount of equity investment were you allowed to invest up to after the 1990's alterations to the 1961 act? 75%59%20%17%58% 10 Which (now repealed) case held that gold wasn't an investment? Re WraggSpeight v GauntLeoroyd v WhitelyRe ChapmanArmitage v Nurse 11 Which case held that a trustee discharges his duty of care if he takes all the precautions that an ordinary man of business would take? Leoroyd v WhitelyRe ChapmanSpeight v GauntArmitage v NurseBartlett v Barclays Bank 12 Why was the trustee liable in Leoroyd v Whitely? Because he invested in a business not propertyBecause the stock broker absconded with fundsBecause he invested in property not businessBecause he did not look at the previous investments when he took overBecause he was a professional 13 Which case held that you can't judge investment by hindsight? Armitage v NurseBartlett v Barclays Bank (no 2)Re ChapmanRe WraggSpeight v Gaunt 14 Which case held that where there is an exclusion of liability clause T's aren't liable unless there is willful default? Bartlett v Barclays Bank (no 2)Armitage v NurseRe WraggLeoroyd v WhitleySpeight v Gaunt 15 Which case suggested there should be reform with regards to professional liability? Bartlett v Barclay's Bank (no 2)Re WraggArmitage v NurseSpeight v GauntLeoroyd v Whitely 16 Which case held that because the trustees were professionals they were subject to a higher standard? Armitage v NurseRe WraggSpeight v GauntBartlett v Barclays Bank (no 2)Leoroyd v Whitely 17 Which section of the Trustee Act 2000 contains standard investment criteria? S. 1S. 4S. 8S. 2S. 3 A mistake in this Quiz ? Contact the author Commentaires
