Which of the following is NOT a characteristic of a fiduciary relationship?
A) The fiduciary can unilaterally exercise the power of discretion so as to affect the beneficiary's legal or practical interests.
B) The beneficiary places trust in the fiduciary.
C) The beneficiary is particularly vulnerable to or at the mercy of the fiduciary holding the discretion or power.
D) The fiduciary is more wealthy than the beneficiary.
E) The fiduciary has scope for the exercise of some discretion or power.

Question

Quizplus · Accepted Answer

The wealth or financial status of the fiduciary is not a characteristic of a fiduciary relationship. The other four characteristics listed, such as the fiduciary's power of discretion and the beneficiary's trust and vulnerability, are all key elements of a fiduciary relationship.

Which of the Following Is NOT a Characteristic of a Fiduciary