SIE practice questioneasyAccount Types
Which account type is designed for the benefit of a minor, with an adult acting as custodian?
- ACustodial account✓ Correct answer
- BMargin account
- CCash account
- DOptions account
Explanation
Why A — Custodial account
A custodial account (e.g., UGMA or UTMA) is established for a minor with an adult manager. Margin, cash, and options accounts are not specifically for minors or under custodianship by default.
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