Stewart's Fiduciary Duty in Managing Pension Fund | CFA Level 1 Exam Prep

Stewart's Fiduciary Duty

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Question

Stewart has been hired by Goodner Industries, Inc., to manage its pension fund. Stewart's fiduciary duty is owed to:

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A. B. C. D.

B

Under Standard IV (B.1), Fiduciary Duties, members who manage a company's pension funds owe a fiduciary duty to the participants and benefits of the plan, not the management of the company or the company shareholders.