SIE practice questioneasyFiduciary Accounts
A client has granted written authorization to a third party to make decisions in their account. This account is known as a:
- AUGMA account
- BMargin account
- CCash account
- DDiscretionary account✓ Correct answer
Explanation
Why D — Discretionary account
A discretionary account allows a person other than the account owner to make investment decisions. Margin, cash, or UGMA accounts do not necessarily involve third-party discretion.
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