67 Questions
What obligation does the government create for a trustee in the text?
To accept the position of trustee instantly
What role did the trustee have initially according to the text?
Custodian
What concerns the individual regarding driving with a state nationals regulation Z plate?
Fear of getting in trouble without an MCO
Why did individuals who obtained a Z plate from a state nationals website face issues?
For not accepting the license plates authority
What authority did individuals give when registering their automobiles according to the text?
Authority related to license plates for their automobiles
What action was required for individuals to become Securities Intermediary, as mentioned in the text?
Coming forward and changing status
Why does the speaker believe that the trustee is always guilty?
The trustee controls the funds and commits fraud.
What does the SF 273 mentioned in the text refer to?
Performance bond
Why does the speaker mention SF 274 in the conversation?
To show the paperwork involved in beneficiary trusts.
What is the purpose of SF 275 as discussed in the text?
Accounting document for trust funds
In the text, what is the speaker's main concern regarding trustees?
Controlling and writing checks from trust funds
What does the speaker emphasize as crucial when dealing with trustee roles?
Knowing your role as a beneficiary
Which form is discussed in relation to committing securities fraud by trustees?
SF 273
What is the speaker's advice regarding accessing funds from a trustee?
"Settle this bill" mindset
Why does the speaker mention that trustees need their signature for transactions?
"To cover their butt" for written checks
What is one of the key aspects mentioned that will be covered in the course discussed?
"Banking and purchasing"
What caution does the speaker give about putting 'non-resident alien' in box four of the W-4 form?
It may lead to a higher flat tax rate being applied.
What alternative suggestion does the speaker provide for box three or step three of the W-4 form?
Claim 6 to 8 other dependents.
What is the speaker's advice regarding marking 'exempt' on the W-4 form?
It is not recommended as it provides taxpayer benefits.
In what way does the speaker suggest lowering withholding amounts without marking 'exempt' on the W-4 form?
By increasing the number of dependents claimed.
Why does the speaker recommend caution when considering 'non-resident alien' for box four of the W-4 form?
To avoid triggering incorrect tax rates.
According to the speaker, what risk is associated with employers interpreting 'non-resident alien' incorrectly?
Incorrect withholding calculations.
What is the purpose of having a private trust number?
To identify the trust privately.
How should a private trust number be chosen?
By creating a unique number of significance.
Why is it recommended to have a private trust number different from the EIN number?
To avoid confusion with the IRS.
What does naming a boat have in common with assigning a private trust number?
Both involve creating a unique identifier.
Why is it suggested to have a domestic phone number for the trustee of a foreign trust?
To simplify contact with the trustee.
Who typically needs to call and obtain the EIN number for a trust?
The grantor.
In what situation would it be acceptable to use a phone number in another country for a domestic trust?
When created and expressed in that foreign country.
Why did the person in the text argue with the officials regarding obtaining the EIN number?
Because they were not the creator of the trust.
What was one hassle mentioned by someone trying to obtain an EIN number?
Being required to fax documents.
How did having multiple EIN numbers affect someone's interaction with officials?
Raised suspicion and led to multiple information requests.
What is one way to eliminate a mortgage payment?
Learning how to discharge correctly through honor and equity
What is stated as the main job of Janet Yellen in the text?
Taking care of student loans
What role does an individual take on when they claim their minor estate?
Beneficiary
How does the text describe the process of reclaiming securities and initiating the role of beneficiary?
It has always been known by individuals
What does the text imply about courts and their relation to individuals reclaiming securities?
Courts are banks and issue securities
What was the speaker's name?
Crystal Larene
What did the speaker do if asked about their name as a trustee?
Provided the name Crystal Lorraine
Why did the speaker use a foreign phone number?
To appear more legitimate to the trustee
What is the purpose of a W9?
To authorize payment to an independent contractor
What does the speaker's employer use for payroll?
Paychecks.com
Why did the speaker's employer refuse to pay using a W9 form?
It would require additional paperwork tracking
Which service does NOT handle WABNs according to the text?
Tax services
Why did the speaker choose numbers from different states for each trust?
To make each trust more legitimate
What was the reason given for not using Alaska and Hawaii numbers?
No available numbers
Why did the speaker caution people about using a W9?
To avoid legal trouble with the IRS
What is the primary reason for statutes, codes, rules, and executive orders being applicable to individuals?
To generate revenue through fines
In the context of driving violations, who is typically held accountable according to the text?
The vessel
What is the significance of claiming 'the vessel' in the given context?
It shifts accountability from the living man to a legal entity
What does the text suggest about the concept of 'drivers' in relation to operating in commerce?
There are no drivers except for those operating in a business capacity
Why does the text mention that traffic tickets are essentially 'bills'?
To emphasize the financial consequences of traffic violations
What is the implied consequence of not paying a traffic fine according to the text?
Increased fines or court appearance
'Correcting your status' as mentioned in the text refers to determining whether an individual is:
Trustee or beneficiary
What does claiming 'the vessel' entail based on the text's explanation?
'The vessel' exists in name only without substance
'Being wise as a serpent and gentle as a dove' is mentioned in the text to emphasize:
'Obeying laws' while looking out for others and oneself
'Common law' is contrasted with 'statutes, codes, rules, and executive orders' primarily to highlight:
'Statutes, codes, rules, and executive orders' as inherent constraints
What is the main concern regarding the registration of the vehicle mentioned in the conversation?
Concerns about the vehicle registration expiring.
What is mentioned as a potential method for discharging debt with silver in the conversation?
Paying off a mortgage with a silver quarter.
What is the speaker's opinion regarding using silver to discharge debt based on the conversation?
It has not been effective in reality.
What is the speaker's impression of Bonnie's actions and advice?
Bonnie's actions lacked integrity and honor.
What does the speaker imply about Bonnie's legal troubles?
They stemmed from impersonating someone with a bar card.
What does the speaker believe was missing from Bonnie's actions?
Correcting her vessel through legal means.
What was NOT mentioned as one of Bonnie's actions?
Filing for bankruptcy.
What does the conversation imply about trusting information from Bonnie?
"There is no credibility with me anymore with Bonnie."
What is NOT cited as a reason for Bonnie getting in trouble according to the conversation?
"Challenges related to marriage with David."
What did the speaker mention about Bonnie's honesty compared to their own?
Bonnie's dishonesty stood out compared to their commitment to honesty.
Study Notes
This quiz involves a conversation snippet where personal information exchange is discussed in the context of setting up a trust. The dialogue includes mentions of sharing last name, background checks, and the cancellation of a trust setup.
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