In a Unit Trust Investment, which of the following is NOT a duty of the Trustee?

Study for the Variable Universal Life/Universal Life Plan (VUL/ULP) Exam. Prepare with flashcards and multiple choice questions, each question is accompanied by helpful hints and explanations. Ace your exam!

In a Unit Trust Investment, the Trustee's primary responsibilities include holding the pool of money and assets in trust, protecting the interests of unit holders, and selecting and managing the investments of the Trust.

Managing individual unit holders' accounts directly is not among the Trustee's duties. Instead, the Trustee acts as a fiduciary to ensure that the Trust operates according to the terms set out in its governing documents and complies with legal obligations. The investments are managed at the collective level for the benefit of all unit holders, rather than on an individual basis. Individual unit holders typically have their own accounts managed through the Trust's structure but do not have their accounts managed by the Trustee directly. Thus, this option accurately identifies a responsibility that does not fall under the Trustee's remit in a Unit Trust Investment.

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