n NISM Certifications
X NISM Series X
Medium

The estate planning tool that takes effect during an individual’s lifetime is the Gift, which can be transferred voluntarily during the person’s life, unlike a Will or Nomination which take effect after death.

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

Options

  1. A

    Will

  2. B

    Nomination

  3. Gift

    Correct answer

  4. D

    All of the above

Why this is the answer

Gifts are given during the lifetime of an individual and are considered estate planning tools that take effect immediately.

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