Which of the Following Is the Most Reliable Means of Distinguishing

question 47

Multiple Choice

Which of the following is the most reliable means of distinguishing a trust relationship from an agency relationship for purposes of deciding which type of fiduciary fund should be used?

• A) Examine the amount of money involved; agency relationships generally involve smaller amounts.
• B) Examine the aggregate of factors,such as the enactment that brought the relationship into existence,statutes,regulations,etc,that help define the nature of the relationship.
• C) Examine the length of time assets will be held; agency relationships are generally in existence longer than trust relationships.
• D) Examine the wording of any agreements to determine if the word "trust" or "agency" is used.

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Definitions:

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