SIE practice questioneasyAccount Types
A customer wants to buy stocks using borrowed funds. Which type of account must they open?
- AMargin account✓ Correct answer
- BCash account
- CRetirement account
- DCustodial account
Explanation
Why A — Margin account
A margin account is required to borrow funds to purchase securities. Cash accounts do not permit borrowing. Retirement and custodial accounts have different purposes.
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