PFAC Practice Exam 2 Questions +
Verified Answers 100% correct, Update
2026
Which statement is not true about Ethics?
a. Fiduciaries whose license is in good standing with the
Professional Fiduciaries Bureau may be considered as alternatives
to family members by probate judges.
b. An ethical person does the right thing by conforming to
professional standards of conduct.
c. Ethical conduct is considered a "lower" standard of conduct than
a legal standard.
d. Conservators, both family members and professional fiduciaries,
are expected to adhere to the Professional Fiduciaries Code of
Ethics. -
correct answer ✅Everyone appointed as a conservator,
professional or not, must sign and acknowledge Judicial Council
Form GC-348 DUTIES OF CONSERVATOR AND ACKNOWLEDGEMENT
OF RECEIPT OF CONSERVATORS HANDBOOK. Answer: C
In protecting the conservatee's confidentiality, which of the
following would the conservator not do?
a. Limit information disclosure only to what is necessary and
relevant.
b. Tell the conservatee's ex-wife about his terminal illness.
,PFAC Practice Exam 2 Questions +
Verified Answers 100% correct, Update
2026
c. Refuse to discuss information that may be detrimental to the
well-being of the client.
d. Assist the conservatee in communicating sensitive information. -
correct answer ✅The conservator "stands in the shoes" of the
conservatee. Only that information that is in the best interest of the
conservatee should be disclosed. Answer: B
Which one of the following is an ethical issue for the conservator?
a. Never exceeding your legal authority.
b. Taking extra money out of the conservatee's account for your
expenses.
c. Thorough and accurate documentation of your conservatee's
financial matters.
d. Not being influenced by the un-ethical behavior of fellow
professionals. -
correct answer ✅It's not your money. Don't touch it. Expenses for
the conservatorship estate should be paid with estate assets.
Conservators who incur out of pocket expenses must include those
in their petition for fees. Answer: B
In hiring an attorney for the trust, which one of the following
statements would not be a good choice?
, PFAC Practice Exam 2 Questions +
Verified Answers 100% correct, Update
2026
a. Hire an attorney with experience in trusts.
b. Get references from friends if you do not know an experienced
trust attorney.
c. Changing an attorney either in a court supervised trust requires
the filing and the court approval of a Substitution of Attorney.
d. An attorney with experience in real estate would be suitable. -
correct answer ✅Attorneys, like many professionals, specialize in
specific areas of the law. There are very few general practice
attorneys. Answer: D
The administrative duties of a fiduciary do not include which
statement?
a. Knowledge that, in some instances, the terms of the trust
override the CA Probate Code.
b. Terms of the trust are to be followed explicitly, even if those
terms dictate something illegal.
c. The Court will evaluate your decisions concerning trust
administration.
d. Trust administrator is expected to fulfill their duties using care,
skill and caution. -
correct answer ✅When in doubt—PETITION THE COURT FOR
INSTRUCTIONS. Answer: B
Verified Answers 100% correct, Update
2026
Which statement is not true about Ethics?
a. Fiduciaries whose license is in good standing with the
Professional Fiduciaries Bureau may be considered as alternatives
to family members by probate judges.
b. An ethical person does the right thing by conforming to
professional standards of conduct.
c. Ethical conduct is considered a "lower" standard of conduct than
a legal standard.
d. Conservators, both family members and professional fiduciaries,
are expected to adhere to the Professional Fiduciaries Code of
Ethics. -
correct answer ✅Everyone appointed as a conservator,
professional or not, must sign and acknowledge Judicial Council
Form GC-348 DUTIES OF CONSERVATOR AND ACKNOWLEDGEMENT
OF RECEIPT OF CONSERVATORS HANDBOOK. Answer: C
In protecting the conservatee's confidentiality, which of the
following would the conservator not do?
a. Limit information disclosure only to what is necessary and
relevant.
b. Tell the conservatee's ex-wife about his terminal illness.
,PFAC Practice Exam 2 Questions +
Verified Answers 100% correct, Update
2026
c. Refuse to discuss information that may be detrimental to the
well-being of the client.
d. Assist the conservatee in communicating sensitive information. -
correct answer ✅The conservator "stands in the shoes" of the
conservatee. Only that information that is in the best interest of the
conservatee should be disclosed. Answer: B
Which one of the following is an ethical issue for the conservator?
a. Never exceeding your legal authority.
b. Taking extra money out of the conservatee's account for your
expenses.
c. Thorough and accurate documentation of your conservatee's
financial matters.
d. Not being influenced by the un-ethical behavior of fellow
professionals. -
correct answer ✅It's not your money. Don't touch it. Expenses for
the conservatorship estate should be paid with estate assets.
Conservators who incur out of pocket expenses must include those
in their petition for fees. Answer: B
In hiring an attorney for the trust, which one of the following
statements would not be a good choice?
, PFAC Practice Exam 2 Questions +
Verified Answers 100% correct, Update
2026
a. Hire an attorney with experience in trusts.
b. Get references from friends if you do not know an experienced
trust attorney.
c. Changing an attorney either in a court supervised trust requires
the filing and the court approval of a Substitution of Attorney.
d. An attorney with experience in real estate would be suitable. -
correct answer ✅Attorneys, like many professionals, specialize in
specific areas of the law. There are very few general practice
attorneys. Answer: D
The administrative duties of a fiduciary do not include which
statement?
a. Knowledge that, in some instances, the terms of the trust
override the CA Probate Code.
b. Terms of the trust are to be followed explicitly, even if those
terms dictate something illegal.
c. The Court will evaluate your decisions concerning trust
administration.
d. Trust administrator is expected to fulfill their duties using care,
skill and caution. -
correct answer ✅When in doubt—PETITION THE COURT FOR
INSTRUCTIONS. Answer: B
