Friday, May 3, 2024
Deferred Gifts

3.3.6 Basic Quiz -- State Regulation
Gift annuities are usually regulated by the Office of Secretary of State.
     True      False
While gift annuity regulations may vary by state, there are five basic types of state regulations.
     True      False
Notification states are the most highly regulated states for issuance of gift annuities.
     True      False
In a notification state, a letter by the charity is usually acceptable notice that a charity is issuing its first gift annuity.
     True      False
Upon submitting its application for a permit to issue gift annuities in a registration state, a charity may immediately begin issuing gift annuities in that state.
     True      False
In registration states, gift annuity funds may be held in the charity's general account.
     True      False
In every registration state, segregated reserve accounts must hold no more than the present value of all outstanding gift annuity agreements.
     True      False
One of the stated requirements for the issuance of gift annuities in most states is a minimum number of years in operation.
     True      False
Some states require charities to maintain a minimum level of unrestricted assets in order to issue gift annuities.
     True      False
You should seek legal counsel and proceed with caution if issuing gift annuities in a silent state.
     True      False



© Copyright 1999-2024 Crescendo Interactive, Inc.