Retirement Accounts
A plan fiduciary under ERISA must do all of the following EXCEPT:
ERISA fiduciaries must act prudently, loyally, and diversify investments, but they do NOT guarantee returns. Fiduciaries must use proper process and care in making investment decisions, but outcomes are not guaranteed. G
Complete Analysis & Legal Rationale
ERISA fiduciaries must act prudently, loyally, and diversify investments, but they do NOT guarantee returns. Fiduciaries must use proper process and care in making investment decisions, but outcomes are not guaranteed. Guaranteeing returns would be impossible and is not required.
Distractor Autopsy (Why Other Options Are Traps)
FINRA exam writers design incorrect distractors using specific calculation mistakes and regulatory misconceptions. Review why each option succeeds or fails:
Does not match the governing concept in the explanation.
Does not match the governing concept in the explanation.
Matches the verified teaching point in the explanation.
Does not match the governing concept in the explanation.
Official Standard: Outline-level citation pending rule-specific upgrade. Verify against current FINRA Series 7 outline.