Tracy is a trust officer at a bank.One of her responsibilities is to manage funds that have been set aside for the benefit of minor children.What type of bond guarantees that Tracy will faithfully execute her required duties in this capacity?

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A fiduciary bond is specifically designed for individuals in positions of trust, such as a trust officer, and guarantees faithful performance of their duties. It provides financial protection for the beneficiaries in case the individual fails to fulfill their obligations or commits fraud or other misconduct. Public official bonds are typically required for government officials, court bonds are for court-appointed positions, and performance bonds are for contractors to ensure completion of a project.

Tracy Is a Trust Officer at a Bank