Fiduciary Relationship Basics Quiz
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Questions and Answers

Who is responsible for managing and administering a trust?

  • Civil Code
  • Trustor
  • Beneficiary
  • Trustee (correct)
  • What is the term used for the person who establishes a trust?

  • Trustee
  • Beneficiary
  • Donor
  • Trustor (correct)
  • In a fiduciary relationship, who justifiably vests confidence, good faith, reliance, and trust in another?

  • Civil Code
  • Beneficiary
  • Trustee
  • Trustor (correct)
  • What is the term used for the person for whose benefit the trust has been created?

    <p>Beneficiary</p> Signup and view all the answers

    According to the Civil Code of the Philippines, which party gives the right to hold and invest assets or property on behalf of a third party in a fiduciary relationship?

    <p>Trustor</p> Signup and view all the answers

    What is the term used for the person who transfers the property to the trust?

    <p>Trustor</p> Signup and view all the answers

    According to the Civil Code of the Philippines, who is responsible for managing and administering a trust?

    <p>Trustee</p> Signup and view all the answers

    In a fiduciary relationship, who is known as the beneficiary?

    <p>The person for whose benefit the trust has been created</p> Signup and view all the answers

    What is the term used for the entity with whom the confidence is reposed as regards the management of a property for the benefit of another person/entity?

    <p>Trustee</p> Signup and view all the answers

    Who gives to a person or organization, known as the trustee, the right to hold and invest assets or property on behalf of a third party in a fiduciary relationship?

    <p>3</p> Signup and view all the answers

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