Accredited Investment Fiduciary (AIF) Training Practice Test

All available safe harbors:

Require legal approval Are voluntary Protect the fiduciary from liability Were enacted prior to 2006

Correct Answer:

Are voluntary

Explanation:

Safe harbors in fiduciary practice are voluntary options that, when followed with the required procedures and documentation, can provide liability protection for the fiduciary in the areas they cover. They aren’t things you must obtain legal approval to use, and they aren’t tied to a single, fixed enactment date—they’ve developed over time. Because of this, the defining and universal trait across all available safe harbors is that using them is a voluntary choice.

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