Final answer:
To be considered a fiduciary activity, a non-trust agreement must not have direct administrative or financial involvement from the government.
Step-by-step explanation:
In order for a non-trust agreement to be considered a fiduciary activity, the government must not have direct administrative or financial involvement. A fiduciary activity refers to a relationship of trust and confidence where one party (the fiduciary) is responsible for acting in the best interest of another party (the beneficiary). If the government has direct administrative or financial involvement, it would compromise the independence and impartiality required for a fiduciary activity.