Fiduciary Duties of an Agent

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Michelle hires Chris to be her financial broker. A year later, Michelle asks for a report detailing her investments. Chris tells her he doesn't have that information. Chris has likely breached the duty of:

Create Your Account To Take This Quiz

As a member, you'll also get unlimited access to over 75,000 lessons in math, English, science, history, and more. Plus, get practice tests, quizzes, and personalized coaching to help you succeed.

Try it risk-free
Try it risk-free for 30 days. Cancel anytime.
Already registered? Log in here for access

1. Michelle hires Chris to be her financial broker. She asks Chris to invest $10,000 in a particular stock. Later she finds that Chris invested her money in a different stock. Chris has likely breached the duty of:

2. Michelle hires Chris to be her financial broker. She gives him $10,000 to invest for her. Chris invests all of Michelle's money in a risky startup company run by his best friend. Michelle loses all of her investment. Chris has likely breached the duty of:

Create your account to access this entire worksheet
A Premium account gives you access to all lesson, practice exams, quizzes & worksheets
Access to all video lessons
Quizzes, practice exams & worksheets
Certificate of Completion
Access to instructors
Create an account to get started Create Account

About This Quiz & Worksheet

In business transactions, agents have certain duties they owe to principals. These duties are called fiduciary duties. This quiz/worksheet combo will help test your understanding of the fiduciary duties of agents in a business relationship. You'll be tested on areas that include the types of duties and violation of those duties.

Quiz & Worksheet Goals

These assessments will test you on the following aspects of the fiduciary duties of an agent in business:

  • Categories of fiduciary duties
  • Definitions of those duties
  • Occurrences of when the duties apply
  • Violation of fiduciary duties

Skills Practiced

This quiz and worksheet will help students to practice the following skills:

  • Making connections - use understanding of the concept of fiduciary duty in a business relationship
  • Problem solving - use acquired knowledge to solve fiduciary duty fact patterns
  • Defining key concepts - ensure that you can accurately define main phrases, such as principal and agent
  • Information recall - access the knowledge you've gained regarding the five categories of fiduciary duties

Additional Learning

Learn more about fiduciary duties required under the law in business relationships by reviewing the accompanying lesson Fiduciary Duties of an Agent in Business Law. This lesson covers the following objectives:

  • The definitions of principal and agent
  • Categories of fiduciary duties
  • Definitions of the duties
  • Violations of fiduciary duties
Support