All of the following are an example of a fiduciary relationship EXCEPT
A) a bank employee manages deposits.
B) a financial advisor advises her clients.
C) a CEO manages the firm.
D) the shareholder elects a board member.

Question

Quizplus · Accepted Answer

In a fiduciary relationship, one party, known as the fiduciary, acts in the best interest of another party, the principal. Choices A, B, and C (bank employee, financial advisor, and CEO) all describe situations where one party is entrusted to act in the best interests of another. However, D (the shareholder elects a board member) describes an action taken by shareholders, which is a part of their rights and responsibilities but does not in itself constitute a fiduciary relationship.

All of the Following Are an Example of a Fiduciary