SIE practice questioneasyAccount Types – Trust Accounts
Which account type is established when one person manages assets for another per a formal legal agreement?
- A401(k) account
- BCash account
- CTrust account✓ Correct answer
- DMargin account
Explanation
Why C — Trust account
Trust accounts are created when a trustee manages assets for beneficiaries based on a trust agreement. Cash, 401(k), and margin accounts are not structured this way.
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