All of these statements about the selection of a fiduciary are correct EXCEPT A) an individual fiduciary is more likely to be appropriate for the administration of a small estate or trust. B) only an institutional fiduciary is duty-bound to avoid a conflict of interest. C) both an individual and institutional fiduciary owe a duty of impartiality in balancing the needs of the beneficiaries for income and capital appreciation. D) an institutional fiduciary is more likely to have the financial and managerial sophistication needed to exercise independent judgment.
All of these statements about the selection of a fiduciary are correct EXCEPT A) an individual fiduciary is more likely to be appropriate for the administration of a small estate or trust. B) only an institutional fiduciary is duty-bound to avoid a conflict of interest. C) both an individual and institutional fiduciary owe a duty of impartiality in balancing the needs of the beneficiaries for income and capital appreciation. D) an institutional fiduciary is more likely to have the financial and managerial sophistication needed to exercise independent judgment.
Chapter3: A Bundle Of Rights
Section: Chapter Questions
Problem 1CTD
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Question
All of these statements about the selection of a fiduciary are correct EXCEPT
A)
an individual fiduciary is more likely to be appropriate for the administration of a small estate or trust.
B)
only an institutional fiduciary is duty-bound to avoid a conflict of interest.
C)
both an individual and institutional fiduciary owe a duty of impartiality in balancing the needs of the beneficiaries for income and capital appreciation.
D)
an institutional fiduciary is more likely to have the financial and managerial sophistication needed to exercise independent judgment.
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