Fiduciaries Study guides, Class notes & Summaries

What are the 4 basic fiduciary standards under the Fiduciary Standard of Care? (Section 404) - ANSWER-1.) Loyalty - (Exclusive purpose rule - Providing benefits to participants and their beneficiaries; and defraying reasonable expenses of administering the plan) 2.) Prudence - (Act with prudence by investigating before making any plan decisions, documenting the decision-making process, hiring experts when they don't possess the knowledge or skills to make a decision, and monitoring if their de...

ACHE BOG Practice Test Question 100% Verified Correct 2023 – 2024 A+ RATED Solution All of the following are commonly recognized to be a right of each patient, except: a. The right to considerate and respectful care b. The right to receive a reasonable response to his/her requests c. The right to communicate with a caregiver in the language of the patients choosing d. For dying patients, the right to receive pain management. - CORRECT ANS - C. Insurance companies an...

Equal Pay Act of 1963 - correct answerEnforced by EEOC. Prohibits discrimination in pay practices. Equal Pay for Equal Work. Title VII - Civil Rights Act of 1964 & 1991 - correct answerEnforced by EEOC. Prohibits discrimination based on: Race, Sex, Religion, Color, National Origin. In a discrimination suit, the EMPLOYER must prove that discrimination was not a factor in a personnel decision. Age Discrimination Act - correct answerProtects >40. Prohibits forcible retirement. OHSA - co...

NAB RCAL-Ohlsen Questions with complete solution 2024 Equal Pay Act of 1963 - correct answer Enforced by EEOC. Prohibits discrimination in pay practices. Equal Pay for Equal Work. Title VII - Civil Rights Act of 1964 & 1991 - correct answer Enforced by EEOC. Prohibits discrimination based on: Race, Sex, Religion, Color, National Origin. In a discrimination suit, the EMPLOYER must prove that discrimination was not a factor in a personnel decision. Age Discrimination Act - correct answe...

ERISA (Employee Retirement Income Security Act of 1974) -- regulates the retirement plan industry - defines who is a fiduciary - fiduciaries must meet a standard of conduct - protects interests of participants - provides participants with plan information - government reporting - civil enforcement provisions IRC 3(21)(A) -a person is a fiduciary with respect to a plan to the extent the person exercises discretion or renders investment advice for a fee

Equal Pay Act of 1963 - ️️Enforced by EEOC. Prohibits discrimination in pay practices. Equal Pay for Equal Work. Title VII - Civil Rights Act of 1964 & 1991 - ️️Enforced by EEOC. Prohibits discrimination based on: Race, Sex, Religion, Color, National Origin. In a discrimination suit, the EMPLOYER must prove that discrimination was not a factor in a personnel decision. Age Discrimination Act - ️️Protects >40. Prohibits forcible retirement. OHSA - ️️Requires employers to ...

Under the DOL regulation, many advisors to retirement plans and their participants will be -3(21) fiduciaries. They will act alongside other fiduciary service providers who are also not necessarily named in the plan document but who exercise discretionary control over plan provisions or plan investments. The advisor should educate the -plan sponsor about hiring fiduciary service providers, including the different roles service providers, including the different roles service providers may...

Champions Real Estate Exam: Law of Agency Latest Version Graded A+ This person hires an agent The Principal The agent works on behalf of this person the client (principal) This type of agency allows for the greatest range of authority Universal This is provided to the agent when there is written documentation that the agency relationship exists. Express authority This is the most limited of all the agency relationships Special agency This type of agency is created when a 3rd party believes ...

PA Real Estate Salesperson Exam - State Portion Exam Prep Latest 2023 Graded A AGENCY RELATIONSHIP A relationship whereby the broker or licensees in the employ of the broker act as fiduciaries for a consumer of real estate services by the express authority of the consumer of real estate services. ASSOCIATE BROKER A broker employed by another broker. BROKER Any person who, for another and for a fee, commission or other valuable consideration: (1) negotiates with or aids any person in locating ...

CEO Compensation should be based on: - Answer- what the institution would have to pay for a similarly prepared person if that person were employed elsewhere An essential function of the governing board is to: - Answer- approve the mission, vision, and long-range plan The key to enhancing board effectiveness is: - Answer- organizing the board's work Members of the medical staff are eligible for full membership on the governing board in the same manner as other individuals: - Answer- whe...