SIE practice questionmediumAccount Types
Which customer is eligible to open a margin account?
- AA trust established for a minor
- BA minor with a custodial account
- CAn individual over 18 with sufficient financial resources✓ Correct answer
- DAn account for a non-profit foundation
Explanation
Why C — An individual over 18 with sufficient financial resources
Only individuals who have reached the age of majority and have the financial sophistication and resources can open margin accounts. Minors, trusts for minors, and most foundation accounts are not eligible for margin trading.
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