Which of the Following Statements Is TRUE with Respect to the Standard

question 49

Multiple Choice

Which of the following statements is TRUE with respect to the standard of care that is applied to professionals?

• A) An error of judgment constitutes a breach of the standard of care.
• B) Because there is no separate tort of breach of a statutory duty, a court cannot consider the effect of a statute when it formulates the standard of care. 6.
• C) A judge will assess a professional's conduct in comparison to the "best practices" that exist within a profession at the time of trial.
• D) More than usual is expected of specialists and less than usual is expected of beginners.
• E) A professional may be held liable despite acting in compliance with an approved practice.

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Definitions:

Investment Professional

an individual or organization specialized in advising clients on where and how to invest their money to achieve financial growth.

Trust Agreement

A legal document that establishes a trust and outlines how it will be administered and specifies the rights and duties of the parties involved.

Indemnity Contracts

Legal agreements in which one party agrees to compensate another for any loss or damage incurred.

Negligently

The failure to exercise a reasonable standard of care, resulting in damage or harm to another.