SIE Exam Practice Question 869

Question: 869

Which of the following is/are correct regarding powers of attorney and powers of appointment?

(1) A power of attorney is a legal document created by an individual authorizing someone else to act on his or her behalf.

(2) A power of appointment is a power given to a donee allowing him or her to dispose of the donor's property by selecting one or more beneficiaries to receive the property.

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