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Fiduciary Knowledge Quiz

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Questions and Answers

True or false: A fiduciary is someone who acts mainly for their own benefit?

False

True or false: A fiduciary has the responsibility to act in the best interest of another person or entity?

True

True or false: A fiduciary is not legally obligated to prioritize the interests of the person they are representing?

False

True or false: A fiduciary is someone who acts solely for their own benefit?

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True or false: A fiduciary must primarily act for the benefit of another person?

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True or false: A fiduciary can prioritize their own interests over those of the person they represent?

False Signup and view all the answers

Study Notes

Fiduciary Relationships

A fiduciary is NOT someone who acts mainly for their own benefit.
A fiduciary has the responsibility to act in the best interest of another person or entity.
A fiduciary IS legally obligated to prioritize the interests of the person they are representing.
A fiduciary is NOT someone who acts solely for their own benefit.
A fiduciary MUST primarily act for the benefit of another person.
A fiduciary CANNOT prioritize their own interests over those of the person they represent.

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Description

Test your knowledge about fiduciaries with this quiz! Learn whether fiduciaries act in the best interest of others or for their own benefit. Can you determine the legal responsibilities of a fiduciary?