Fiduciaries duties - Study guides, Revision notes & Summaries

Which of the following has the authority to suspend or revoke a Texas real estate license? - correct answer TREC Which of the following is an element of a listing agreement? - correct answer the agreement to pay a stated commission, usually a percentage of the sales price the IRS considers which of the following a violation of independent contractor status? - correct answer salesperson is told to work set hours, guaranteed a monthly minimum wage, has his licensing fees paid by the br...

Under the DOL regulation, many advisors to retirement plans and their participants will be - ANSWER-3(21) fiduciaries. They will act alongside other fiduciary service providers who are also not necessarily named in the plan document but who exercise discretionary control over plan provisions or plan investments. The advisor should educate the - ANSWER-plan sponsor about hiring fiduciary service providers, including the different roles service providers, including the different roles service p...

AWMA Module 8 Quiz Questions and Correct Detailed Answers with Rationales (Verified Answers) Already Graded A+ Which is the most important area of concern that was addressed in the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010? A) Fiduciary standard B) Hedge fund regulation C) Systemic risk D) Derivatives trading - Answer C) Systemic risk Concern over systemic risk and the need to maintain a stable financial system is the primary issue that Dodd-Frank addressed....

AWMA Practice Exam Questions with All Correct Answers (Already Graded A+) Which of these choices is NOT a fiduciary duty explicitly required under the CFP Board Practice Standards? A) Duty to delegate B) Duty to follow client instructions C) Duty of loyalty D) Duty of care - Answer A) Duty to delegate The three fiduciary duties explicitly stated in the CFP Board Practice Standards are the duty of loyalty, duty of care, and duty to follow client instructions. There is a fiduciary duty ...

ERISA Prudent Man Rule - Requires plan fiduciaries to hire knowledgeable professionals for plan duties. Fiduciary Duty - Obligation to act in the best interest of plan participants and beneficiaries. Plan Sponsor - Employer responsible for selecting and monitoring plan service providers. Exclusive Benefit Rule - Requires fiduciaries to act solely for the benefit of participants and beneficiaries. Plan Service Providers - Entities engaged to perform functions beyond the sponsor's exp...

Law of Agency – Champions Exam Questions and Answers 100% Solved Which of the following has the authority to suspend or revoke a Texas real estate license? TREC Which of the following is an element of a listing agreement? the agreement to pay a stated commission, usually a percentage of the sales price the IRS considers which of the following a violation of independent contractor status? salesperson is told to work set hours, guaranteed a monthly minimum wage, has his licensing f...

What are the fiduciary duties of an adviser as outlined by the SEC? correct answers Provide advice that is sitable for the client Full disclosure of all material facts Full disclosure of actual AND potential conflicts of interest Utmost and esclusive loyalty and good faith Best execution of client transactions Exercise reasonable care to avoid misleading clients What should fiduciaries do if they engage in an activity that conflicts with the interest of the client? correct answers Get wr...

ONE true statement about the duties of members and managers in a LLC is that they _______________. correct answers are fiduciaries of the company and its members According to the Revised Uniform Limited Liability Company Act (RULLCA), members of a limited liability company should _______________. correct answers share profits and other distributions equally According the the RULLCA, when a member transfers his or her transferable interest in an LLC to another person, the transferee only ha...

Which of the following has the authority to suspend or revoke a Texas real estate license? - Answer- TREC Which of the following is an element of a listing agreement? - Answer- the agreement to pay a stated commission, usually a percentage of the sales price the IRS considers which of the following a violation of independent contractor status? - Answer- salesperson is told to work set hours, guaranteed a monthly minimum wage, has his licensing fees paid by the broker the TAR buyer repre...

Which of the following has the authority to suspend or revoke a Texas real estate license? - Answer- TREC Which of the following is an element of a listing agreement? - Answer- the agreement to pay a stated commission, usually a percentage of the sales price the IRS considers which of the following a violation of independent contractor status? - Answer- salesperson is told to work set hours, guaranteed a monthly minimum wage, has his licensing fees paid by the broker the TAR buyer repre...