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

question 31

Multiple Choice

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

• A) Although the principal is a fiduciary, an agent is not a fiduciary.
• B) An agent is a fiduciary only if the principal and agent agreed by written contract that the agent is a fiduciary.
• C) An agent is a fiduciary only if the principal and agent agreed by written or oral 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.

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