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NATIONAL GUARDIANSHIP ASSOCIATION EXAM
PREPARATION ACTUAL EXAM NEWEST 2025/2026 NEWEST
ACTUAL EXAM WITH COMPLETE QUESTIONS AND
VERIFIED ANSWERS |ALREADY GRADED A+|
A formal, written request presented to a court or other official
body. (Black's) For example, relative to
guardianship, the document filed to initiate the process for
adjudication of disability and appointment of a
guardian. - ANSWER-Petition
A report required, in some states, in relationship to a guardianship
proceeding, which substantiates the
need for a substitute decision maker. Also Examining Committee
Report. - ANSWER-Physician's Report
A person who acts cautiously in the handling of assets. See
Prudent Person Rule. - ANSWER-Prudent Person
An investment standard that considers the reasonableness of an
investment based on whether a prudent
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person of discretion and intelligence, who is seeking reasonable
income and preservation of capital,
would make that investment. - ANSWER-Prudent Person Rule
All investments must be considered as part of an overall portfolio
rather than individually. No investment
is inherently imprudent or prudent. The rule recognizes that
certain nontraditional investment vehicles
may actually be prudent and the guardian who does not use risk-
reducing strategies may be penalized.
Under most circumstances, the ward's assets must be diversified.
The guardian is obligated to spread
portfolio investments across asset classes and potentially across
global markets to both enhance
performance and reduce risk. The possible effects of inflation
must be considered as part of the
investment strategy. The guardian shall either demonstrate
investment skill in managing assets or shall
delegate investment management to another qualified party. -
ANSWER-Prudent Investor Rule
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Any medication prescribed for the management of behavior. -
ANSWER-Psychotropic Medications
An individual, agency, or organization named by a governmental
agency to receive government benefits
on behalf of, and for the benefit of, the beneficiary entitled to such
benefits. - ANSWER-Representative Payee
A doctrine that states the actions of a person are determined by
that person. It is free choice of one's acts
without external force. - ANSWER-Self-determination
Services provided to meet social needs, including provisions for
public benefits, case management,
money management services, adult protective services,
companion services, and other similar services. - ANSWER-
Social Services
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The principle of decision-making which requires implementation of
the course of action which comports
with the individual ward's or beneficiary's known wishes
expressed prior to the appointment of the
guardian or representative payee, provided the individual was
once capable of developing views relevant
to the matter at issue and reliable evidence of these views
remains. Current opinions and desires of the
ward or beneficiary shall be examined and are relevant to a
determination of the ward's or beneficiary's
views prior to appointment of the guardian or representative
payee. - ANSWER-Substituted Judgment
Of full age and capacity; possessing full social and civil rights -
ANSWER-Sui Juris
Obligation of a guarantor to pay a second party upon default by a
third party in the performance
the third party owes to the second party. - ANSWER-Surety Bond
NATIONAL GUARDIANSHIP ASSOCIATION EXAM
PREPARATION ACTUAL EXAM NEWEST 2025/2026 NEWEST
ACTUAL EXAM WITH COMPLETE QUESTIONS AND
VERIFIED ANSWERS |ALREADY GRADED A+|
A formal, written request presented to a court or other official
body. (Black's) For example, relative to
guardianship, the document filed to initiate the process for
adjudication of disability and appointment of a
guardian. - ANSWER-Petition
A report required, in some states, in relationship to a guardianship
proceeding, which substantiates the
need for a substitute decision maker. Also Examining Committee
Report. - ANSWER-Physician's Report
A person who acts cautiously in the handling of assets. See
Prudent Person Rule. - ANSWER-Prudent Person
An investment standard that considers the reasonableness of an
investment based on whether a prudent
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person of discretion and intelligence, who is seeking reasonable
income and preservation of capital,
would make that investment. - ANSWER-Prudent Person Rule
All investments must be considered as part of an overall portfolio
rather than individually. No investment
is inherently imprudent or prudent. The rule recognizes that
certain nontraditional investment vehicles
may actually be prudent and the guardian who does not use risk-
reducing strategies may be penalized.
Under most circumstances, the ward's assets must be diversified.
The guardian is obligated to spread
portfolio investments across asset classes and potentially across
global markets to both enhance
performance and reduce risk. The possible effects of inflation
must be considered as part of the
investment strategy. The guardian shall either demonstrate
investment skill in managing assets or shall
delegate investment management to another qualified party. -
ANSWER-Prudent Investor Rule
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Any medication prescribed for the management of behavior. -
ANSWER-Psychotropic Medications
An individual, agency, or organization named by a governmental
agency to receive government benefits
on behalf of, and for the benefit of, the beneficiary entitled to such
benefits. - ANSWER-Representative Payee
A doctrine that states the actions of a person are determined by
that person. It is free choice of one's acts
without external force. - ANSWER-Self-determination
Services provided to meet social needs, including provisions for
public benefits, case management,
money management services, adult protective services,
companion services, and other similar services. - ANSWER-
Social Services
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The principle of decision-making which requires implementation of
the course of action which comports
with the individual ward's or beneficiary's known wishes
expressed prior to the appointment of the
guardian or representative payee, provided the individual was
once capable of developing views relevant
to the matter at issue and reliable evidence of these views
remains. Current opinions and desires of the
ward or beneficiary shall be examined and are relevant to a
determination of the ward's or beneficiary's
views prior to appointment of the guardian or representative
payee. - ANSWER-Substituted Judgment
Of full age and capacity; possessing full social and civil rights -
ANSWER-Sui Juris
Obligation of a guarantor to pay a second party upon default by a
third party in the performance
the third party owes to the second party. - ANSWER-Surety Bond
