Please assist with this pretest. I only got 8.5 points out of 20 right

1.Which of the following is NOT an accurate statement specific to a fiduciary?

a.Financial planners are themselves fiduciaries when working in certain capacities with clients.

b.The fiduciary duty means acting in the client's best interests at all times and placing the client's interests above the interests of the adviser or planner.

c.This fiduciary relationship arises out of the trust and confidence the client places in the financial adviser or planner.

d.There are two basic types of fiduciary relationships in the planning process.

4.Which of the following is NOT a duty the fiduciary owes to beneficiaries:

a. To refrain from any self-dealing at the expense of the beneficiaries and to remain loyal to beneficiaries.

b.To discard unproductive property as desired.

c.To invest property prudently according to state laws that may consist of a prudent-person rule, legal-list statute, or Uniform Prudent Investor Act.

d.To refrain from delegating acts that can be performed by the fiduciary.

7.Which of the following is NOT a type of fiduciary relationships in financial planning.

a.Those providing advice regarding retirement plan and IRA assets have a duty to act in the best interests of the client.

b.Advisors to retirement plans have the duty to act in the best interests of the plan participants and beneficiaries.

c.Guardians are appointed to act in the best interests of the person who is their ward.

d. A professional banker discussion investments with her friends.

10.An individual has outstanding debt that consists of the following and files for Chapter 7. How much of the debt may be discharged?

Credit Card debt$32,000

Child Support$10,000

Subsidized Stafford loan$12,000

Unsubsidized Stafford loan$10,000

Outstanding Doctor Bills$ 7,500

Liability from drunkendriving$10,000

a. $32,000

b. $39,500

c. $49,500

d. $51,500