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Which of the Following Is True Regarding the Status of an Agent

Question 41

Multiple Choice

Which of the following is true regarding the status of an agent as a fiduciary?


A) An agent is a fiduciary only if the principal and agent agreed by written or oral contract that the agent is a fiduciary.
B) Although the principal is a fiduciary,an agent is not a fiduciary.
C) An agent is a fiduciary only if the principal and agent agreed by written contract that the agent is a fiduciary.
D) An agent is only a fiduciary to the principal only if a transaction in excess of $10,000 is involved.
E) An agent is a fiduciary to the principal.

Correct Answer:

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