which of the following statements correctly describes fiduciary responsibility u

Question

which of the following statements correctly describes fiduciary responsibility under ERISA?

A. Individuals who sell investments to the plan usually are considered fiduciaries.

B. The exclusive-benefit rule requires that fiduciaries discharge their duties solely in the interest of the plan's participants and beneficiaries for the exclusive purpose of providing benefits and defraying reasonable expenses .

C. Fiduciaries must only act prudently when they are choosing risky investments.

D. A fiduciary can select an investment that benefits the fiduciary, as long as the investment is prudent.

Explanation / Answer

fiduciary responsibility under ERISA involves "Fiduciaries must only act prudently when they are choosing risky investments".

hence, option (C) is correct answer

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