Kansas Funeral Director Practice Exam

Which type of property is tangible and can be physically touched?

1. Intangible personal property

2. Tangible personal property

3. Real property

4. Secured property

The correct answer is: Tangible personal property

The correct answer is tangible personal property, which refers to physical items that can be seen and touched. This category includes things like furniture, cars, and jewelry – assets that have a physical form and can be moved or handled. Understanding tangible personal property is crucial in the context of estate planning and funerals, as it relates to the distribution of physical belongings after a person's passing. In contrast, intangible personal property consists of non-physical assets such as stocks, bonds, or intellectual property, which cannot be touched or physically possessed. Real property pertains specifically to land and anything permanently attached to it, such as buildings, which is also not classified as tangible personal property. Secured property relates to assets that serve as collateral for loans, highlighting their legal or financial aspects rather than their tangible characteristics.