SIE practice questionmediumAccount Types – Investment Company Act
Under the Investment Company Act of 1940, which account type might hold mutual fund shares?
- AAny brokerage account type✓ Correct answer
- BOnly margin accounts
- COnly custodial accounts
- DOnly joint accounts
Explanation
Why A — Any brokerage account type
Mutual fund shares can be held in any brokerage account: individual, joint, custodial, retirement, etc. There is no restriction to margin, custodial, or joint accounts alone.
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