Monday, April 29, 2024
Deferred Gifts

3.1.11 Basic Quiz -- Disclosure AT - SEC Exemption
The Philanthropy Protection Act was designed to address security issues related to investments held by charities.
     True      False
The Philanthropy Protection Act requires disclosure to donors of commingled investments by the charity.
     True      False
The Philanthropy Protection Act applies to private trustees.
     True      False
The Philanthropy Protection Act applies to bank and trust companies.
     True      False
The Philanthropy Protection Act always applies to charities when they serve as trustee of charitable remainder trusts.
     True      False
The Philanthropy Protection Act requires disclosure of material facts and the Act states which material facts need to be disclosed.
     True      False
The disclosure required by the charity does not need to be extensively long; it just needs to be a full and fair disclosure.
     True      False
The information given to the donors needs to assist them in understanding the nature, quality and risk of the various investments.
     True      False
The Philanthropy Protection Act requires a specific form to provide the disclosure information.
     True      False
The charity should have its disclosure statement reviewed by its legal counsel.
     True      False



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