Fiduciary rule - Study guides, Class notes & Summaries

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...

M100 Community Association Management Exam Questions with 100% Verified Answers. Each of the following are key characteristics of community associations EXCEPT: a. Mandatory lien-based economic charges or assessments are levied on each owner in order to operate and maintain the community association. b. Membership in the community association is mandatory and automatic for all owners. c. A requirement of community association ownership is serving on the board of directors. d. Certain docu...

Fiduciary Obligations of Partners Question and answers verified to pass 2024/2025 Fiduciary Obligations of Partners (Class #4) What are the 2 Partnership Fiduciary Duties? - correct answer RUPA 409 (a) A partner owes to the partnership (1) Duty of loyalty and (2) Duty of care Duty of Good Faith (RUPA 409) (not one of the 2 fiduciary duties) - correct answer RUPA 409 (d) says that partners will carry out their duties and obligations under agreement and exercise rights consistently w...

Employee Benefit and Retirement Accounts - Answer-Which of the following types of accounts make up the majority of non-managed asset products? Investment Management & Advisory Accounts - Answer-Which of the following types of accounts make up the majority of managed asset products? Legislation - Answer-_______________is a law which has been enacted by a legislature and signed into law by the governor or president. Regulation - Answer-___________ is a rule created by an administrative agenc...

BUSFIN 3500 Final | Questions and Answers Law and Ethics Are Interconnected: perceived unethical business behavior often spurs public outcry for increased regulation of business. Ethics Principles 1) Maintain Fiduciary Standards 2)Avoid appearance of a Conflict of Interest 3) Respect Confidential Relations 4) Exercise Due Care and Due Diligence 5) Act in Good Faith and Deal Fairly with Others Fiduciary Someone who occupies a position of power, trust and confidence regarding property of anothe...

CRPC Chapter 9 Test Questions with Correct Answers Prudent Investor Rule - Answer-Updated in the Uniform Prudent Investor Act of 1994 Any investment as part of total portfolio Risk vs return No categorical restrictions on types of investments Diversify investments Delegation of trust Inv and management functions Detailed records - Answer-Recommendation and decision All data from client- need to have to make sure looking out for best interest of client Fiduciary as defined b...

Barth v. Barth Ans- Majority rule, however, majority owners have fiduciary duty to minority owners and business itself. In general, proper procedure for minority to challenge majority is a derivative action on behalf of the business. Bedrock Principle of Limited Liability Ans- Unless otherwise provided in the articles of incorporation, a shareholder of a corporation is not personally liable for the acts or debts of the corporation except that the shareholder may become personally li...

WA STATE LAW, CHAPTERS 17, 18, 19, 22, 26, 28, AND 30 EXAM REVIEW QUESTIONS AND ANSWERS, VERIFIED. Agency law is concerned with your __________for the _______ of others and their _____________ to you. - -responsibility, actions, obligations To create an agency relationship, there must be: A ______________ and An _______________ Who _________ consent that the __________ will act on behalf of the _________ Be subject to the ______________'s control thereby creating a ___________ relati...

M100 Community Association Management, Exam Questions with correct Answers Latest 2024/2025 Graded A+. Each of the following are key characteristics of community associations EXCEPT: a. Mandatory lien-based economic charges or assessments are levied on each owner in order to operate and maintain the community association. b. Membership in the community association is mandatory and automatic for all owners. c. A requirement of community association ownership is serving on the board of direc...

"Investment Adviser" person/firm compensated for engaging in business of (directly or indirectly) advising others on securities or the advisability of investing (or) who issues analysis/reports concerning securities - SEC vs Capital Gains Research Bureau basis of Fiduciary Rule, specifically Best Interest SEC Registration Required when 1) definition of "IA" is met (unless otherwise excepted from definition or exempt/prohibited from registration); AND $100M in AUM (optional for Mid-Sized ...