n NISM Certifications
X NISM Series X
Medium

Is a gift revocable or irrevocable?

Practice question from NISM Series XB- Investment Adviser (Level 2) Mock Test 6 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    Irrevocable

  2. B

    Easily revocable

  3. Usually irrevocable unless the donee agrees to revoke

    Correct answer

  4. D

    Revocable if the donor's family consents

Why this is the answer

Gifts are typically considered irrevocable, but they can be revoked if the donee consents, depending on circumstances.

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