Asked by Josalyn Valdez on Jun 22, 2024
Verified
Which of the following is true regarding being a fiduciary?
A) Fiduciaries are held to the highest standard of trust imposed by law.
B) Fiduciaries are not given any duties related to real property.
C) Fiduciaries must be paid three times minimum wage.
D) Fiduciaries are not held to any standard of trust.
Fiduciary
A legal and ethical relationship of trust where one party manages another party's assets or interests.
Highest Standard
Refers to the top or most rigorous level of quality or achievement that can be reached in a specific field or activity.
Real Property
Land and anything permanently attached to it, such as buildings, fences, and natural features, recognized as real estate in legal terms.
- Comprehend the concept of fiduciary duties and standards.
Verified Answer
GB
Gayathri BalasuriyaJun 24, 2024
Final Answer :
A
Explanation :
Fiduciaries are held to the highest standard of trust imposed by law, meaning they are legally and ethically bound to act in their clients' best interests.
Learning Objectives
- Comprehend the concept of fiduciary duties and standards.