SIE practice questioneasyAccount Types - Custodial Accounts
Which account type is established for a minor and managed by an adult until the minor reaches legal age?
- ACustodial account✓ Correct answer
- BMargin account
- CJoint account
- DRetirement account
Explanation
Why A — Custodial account
A custodial account is for minors managed by adults. Margin and joint accounts are not specifically for minors; retirement accounts are for long-term savings.
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