Guardianship Certification Practice Exam | 2025/2026
Latest|Actual Exam Questions and 100% Correct
Answers | Graded A+|Latest update|
What are the different duties owed by an agent to a
principal? - ANSWER--undivided loyalty to principal
-no secret bonuses
-act in best interest to principal
-honesty, confidentiality
-no conflict of interest
Galambos v Perez (2009 SCC) TEST - ANSWER-(1) the
existence of a discretionary power on the part of the
,fiduciary to affect the vulnerable party's legal or practical
interests that the fiduciary can exercise unilaterally; and
(2) an express or implied undertaking by the fiduciary itself
that it will exercise this discretionary power in the
vulnerable party's best interests
What are the three categories of professional duties and
how do they overlap and/or differ? - ANSWER--contractual
duties (common law): Where a relationship between the
parties is governed by a contract
-tort duties (common law): Where a duty of care, skill and
diligence is imposed in circumstances where there is no
contractual relationship between the parties
, -fiduciary duties (equity): Can be imposed in a relationship
based on trust, loyalty, fidelity and honor with or without a
contract and involves legal, moral and ethical duties
What are the three general characteristics that define a
fiduciary relationship? - ANSWER--fiduciary has scope for
the exercise of some discretion or power
-fiduciary can exercise power to affect beneficiary's legal
or practical interests
-beneficiary is peculiarly vulnerable to or at the mercy of
the fiduciary holding the
discretion or power.
Latest|Actual Exam Questions and 100% Correct
Answers | Graded A+|Latest update|
What are the different duties owed by an agent to a
principal? - ANSWER--undivided loyalty to principal
-no secret bonuses
-act in best interest to principal
-honesty, confidentiality
-no conflict of interest
Galambos v Perez (2009 SCC) TEST - ANSWER-(1) the
existence of a discretionary power on the part of the
,fiduciary to affect the vulnerable party's legal or practical
interests that the fiduciary can exercise unilaterally; and
(2) an express or implied undertaking by the fiduciary itself
that it will exercise this discretionary power in the
vulnerable party's best interests
What are the three categories of professional duties and
how do they overlap and/or differ? - ANSWER--contractual
duties (common law): Where a relationship between the
parties is governed by a contract
-tort duties (common law): Where a duty of care, skill and
diligence is imposed in circumstances where there is no
contractual relationship between the parties
, -fiduciary duties (equity): Can be imposed in a relationship
based on trust, loyalty, fidelity and honor with or without a
contract and involves legal, moral and ethical duties
What are the three general characteristics that define a
fiduciary relationship? - ANSWER--fiduciary has scope for
the exercise of some discretion or power
-fiduciary can exercise power to affect beneficiary's legal
or practical interests
-beneficiary is peculiarly vulnerable to or at the mercy of
the fiduciary holding the
discretion or power.
