< Study Room | 03.01.2018

By whom is a “fiduciary duty” owed?

By whom is a “fiduciary duty” owed?

A - An employee to a fellow employee who might be harmed by their actions

B – Any employee who has signed a contract of employment to their employer

C – Anyone whose work involves paying or receiving money

D – Someone who occupies a position of trust in relation to another and acts on their behalf


Answer:

D: A fiduciary is a person who occupies a position of trust and is required to act for the latter’s benefit.

Share

Related articles

Why do insurers include a subrogation clause in the policy wording?

Why do insurers include a subrogation clause in the policy wording?

a: Because it allows them to commence a recovery action at an earlier stage b: Because it allows them to peruse a recovery in their own name

What is the schedule in a policy document used for?

What is the schedule in a policy document used for?

C: The purpose of the policy Schedule is to personalise the policy to the individual insured.