CTFA Practice Questions - Certified Trust And Fiduciary Advisor (CTFA) Exam

When may a trustee reasonably hold an undiversified position without automatically violating fiduciary standards?

Whenever the trustee has a strong personal belief in the company Only when every beneficiary gives oral consent When trust terms or special circumstances justify retention and the fiduciary documents why the strategy still serves the beneficiaries Never, because diversification has no exceptions

Correct Answer:

When trust terms or special circumstances justify retention and the fiduciary documents why the strategy still serves the beneficiaries

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